Is Penn Valley, CA 95946 a buyer’s or seller’s market?
Penn Valley is a balanced market. With about 4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 35% of U.S. ZIP codes, and #921 of 1069 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Penn Valley housing market right now
In the three months ending August 31, 2026, 16% of homes in Penn Valley, CA 95946 sold above their list price, the typical home went under contract in 47 days and there were 4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 60 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (15% then), homes sold more slowly (45 days then) and the median sale price held steady to $483,541. Overall, Penn Valley is about as competitive as it was a year ago.
Within Nevada County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county. On our competition score, Penn Valley ranks #921 of 1,069 CA ZIP codes with enough sales (score 37 out of 100).
Nearby, Rough And Ready 95975 (50% sold over asking) and Grass Valley 95945 (35% sold over asking) are even more competitive.
Run the numbers for 95946
Nearby markets
Floriston 96111 — /sq ftGrass Valley 95945Seller’s market $336 /sq ftGrass Valley 95949Seller’s market $302 /sq ftNevada City 95959Seller’s market $324 /sq ft Browse all markets →Towns like Penn Valley nearby
Find towns like Penn Valley in other states →Where Penn Valley is
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Questions about Penn Valley real estate
Is Penn Valley a buyer’s or seller’s market?
A balanced market: there were 4 months of supply in Penn Valley, CA 95946 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Penn Valley?
The typical home went under contract in 47 days in the latest three months.
Do homes in Penn Valley sell over asking?
16% of homes sold above their original list price, and the typical sale closed at 98.2% of the list price.
What are property taxes in Penn Valley?
About 1.15% of a home’s value a year in Nevada County, or roughly $4,600 on a $400,000 home.
What is the median home price in Penn Valley?
The median sale price was $483,541 in the three months ending August 31, 2026, about $257 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology