Today, there are 551 properties available for sale in the Carson Valley. The count does not include shared ownership or manufactured housing. Of the 551 properties available for sale, 28 homes are bank-owned and 52 are short sales. Back on October 18th, just over a month ago, we blogged about how 48 short sales available and 21 bank-owned properties available.

Clearly the number of distressed properties entering the market is trending upwards. As of today, there are 72 homes pending in the Multiple Listing Service. Of the 72 currently pending close of escrow, 32 of them are either short sales or bank-owned. Thus 44% – or almost half – of the properties selling in the valley right now are distressed.

24 properties have closed escrow this month, and 11 of them were distressed. That means 46% of the homes that sold this month were distressed. It’s a great time to be a buyer because there are some tremendous values in the market. Buyers have been watching the market with an eagle eye and are making deals on bank-owned properties with phenomenal values the likes that Gardnerville and Minden have not seen in years.