It’s that time again…time to provide you with the November sales results for Carson Valley real estate. 29 homes sold in the Carson Valley in November. The median sales price was $244,000 which was slightly lower than August, the record-holder for lowest median sales price this year. November’s sales were just slightly up from October when you consider volume, but down on average sales price. Most all the other statistics we track, such as price per square foot, or days on market, have been ebbing and flowing for months now.

The good news is there are some FANTASTIC steals in the market right now. And the market seems to be stabilizing. Take a look at the spreadsheet and you can see that over the last few months the deviation from month to month has lessened substantially.

This may mean the market is beginning to show signs of levelling out. As of today, there are only 518 homes on the market, so the total number of homes available continues to drop. Just  two weeks ago, there were 551 homes on the market. There are 70 homes that are pending sale right now as well, so it appears as though a steady number of homes continues to go under contract. If that volume remains the same, and inventory continues to decrease, we will be well on our way towards a healthier, more stable market.

In the meantime, there are some great deals out there! Of the 70 homes that are under contract, 32 of them are distressed (either bank owned or short sale). Of the 518 homes that are on the market, 80 of them are distressed. On November 25th, there were 72 distressed properties on the market. Over the last two weeks, the distressed property volume has increased 11%. And there are more to come. Many of the distressed properties are in decent shape, and have rock bottom prices, making them a fantastic deal for a buyer who can see past some of the cosmetic work that needs to be done to make them wonderful!

For example, there are 40 properties under $200,000 available for sale in the Carson Valley. There are an additional 102 properties that are priced between $200,000 and $300,000. That means 27% of the total number of homes available for sale are under $300,000. What a great market to be a buyer!