As of January 26, 2009, there are 485 homes for sale in the greater Gardnerville, Minden and Genoa area. The total number of homes available for sale continues to decrease from 3 months ago when there were 574 homes on the market. A decrease in supply is one of the key factors that will help stabilize prices in our valley. One of the most basic principles in economics is the function of supply and demand. (Data is according to the Multiple Listing Service and excludes any shared ownership or manufactured housing.)

Of the 485 homes currently being marketed for sale, 39 homes are bank-owned properties and 48 are short sales. That means there are 87 homes out of the 485, or 17.9% of the total number of homes currently for sale, are distressed. That is up from 14.4% a month ago.