Carson Valley Real Estate – Homes Sold in August/September/October 2010
Here are the sales numbers for August 2010:
34 homes sold
Median asking price is $219,500
Median selling price is $215,000
Median days on market is 84
Here are the sales numbers for September 2010:
60 homes sold
Median asking price is $205,000
Median selling price is $190,200
Median days on market is 120
Here are the sales numbers for October 2010:
44 homes sold
Median asking price is $244,500
Median selling price is $221,250
Median days on market is 109
So what is the absorption rate for the Carson Valley?
There are 405 homes for sale in the Carson Valley as of November 12, 2010
44 homes sold in October
384/44 = 9.20 months of inventory
(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 300, known as the Carson Valley which includes Gardnerville, Genoa, Minden, Indian Hills area of Carson City, China Springs, Spring Valley, Topaz Ranch Estates and outlying areas.)
Carson Valley Real Estate – Homes Sold in May/June/July 2010
Hi everyone! First, let me apologize for the lack of recent blog posts and data I’m sure you all hang on baited breath to read! Steve, Jana and I have been very busy helping people buy and sell homes, and if we close out the year as we anticipate, we will have sold over $13,500,000 in homes this year (that’s over 60 properties!) In an effort to catch up, I am going to post two posts for the last 6 months to get us caught up. So without any further delay, let’s see how the market has changed below!
Here are the sales numbers for May 2010:
56 homes sold
Median asking price is $224,000
Median selling price is $217,450
Median days on market is 117
Here are the sales numbers for June 2010:
53 homes sold
Median asking price is $225,000
Median selling price is $215,000
Median days on market is 85
Here are the sales numbers for July 2010:
46 homes sold
Median asking price is $255,000
Median selling price is $235,000
Median days on market is 108
So what does this data tell us exactly? It is pretty clear that our market appears to have stabilized. The fluctuation from month to month from all four indicators is negligible. With our next post, we’ll evaluate August, September and October to determine if the trend continued and if we can demonstrate further market stability.
(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 300, known as the Carson Valley which includes Gardnerville, Genoa, Minden, Indian Hills area of Carson City, China Springs, Spring Valley, Topaz Ranch Estates and outlying areas.)
Carson Valley Real Estate – Homes Sold in April 2010
We had 55 homes sell in the Carson Valley in April 2010, on pace with the 61 homes sold in March. In contrast, only 38 homes sold in April 2009. We have been seeing this trend for months now and I think it’s safe to say that the volume of home sales is now holding steadily at a more reasonable level. I think the glut of low volume of home sales is behind us.
Here is a snapshot of our market indicators for April:
55 homes sold
Median asking price is $244,000
Median selling price is $215,000
Median days on market is 118
So what is the absorption rate for the Carson Valley?
There are 384 homes available for sale in the Carson Valley as of 5/7/2010
55 homes sold in April
384/55 = 6.98 months of inventory
Of the 384 homes on the market, 30 are bank owned, 58 are short sales, and 1 is Subject to Court Approval. That means that 23% of our market is distressed. Our market has also been holding steady at this distress level for several quarters as well. That means that although there is an appetite for buyers to purchase bank owned and distressed short sale homes, they continue to enter the market. Over the lat 10 days, our team alone has received over 10 new REO assignments (listings that are in their pre-marketing stages). For us, it looks like the new wave of REO’s everyone predicted at the beginning of the year is finally starting to hit the market. The question will be whether or not there is sufficient buyer demand to continue to buy them at the current rate. If not, they will put downward pressure on our pricing and the stability we’ve enjoyed over the last few quarters may begin to slide once again.
(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 300, known as the Carson Valley which includes Gardnerville, Genoa, Minden, Indian Hills area of Carson City, China Springs, Spring Valley, Topaz Ranch Estates and outlying areas.)
Carson Valley Real Estate – Homes Sold in March 2010
We had 61 homes sell in the Carson Valley in March 2010, up from 29 in February 2010. In contrast, 40 homes sold in March 2009. It seems as though the market has definitely picked up in terms of sales volume.
Here is a snapshot of our market indicators for March:
61 homes sold
Median asking price is $248,000
Median selling price is $248,000
Median days on market is 161
So what is the absorption rate for the Carson Valley?
There are 404 homes available for sale in the Carson Valley as of 4/12/2010
61 homes sold in March
404/61 = 6.6 months of inventory
Of the 404 homes on the market, 26 are bank owned, 66 are short sales, and 1 is Subject to Court Approval. That means that 23% of our market is distressed. Slowly but surely our distressed property percentage of the market is shrinking? Will that continue? I’m not sure – my instinct tells me the next wave will be jumbo loan defaults and foreclosures in our area – how that will affect our market is anyone’s guess.
(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 300, known as the Carson Valley which includes Gardnerville, Genoa, Minden, Indian Hills area of Carson City, China Springs, Spring Valley, Topaz Ranch Estates and outlying areas.)
Carson Valley Real Estate – Homes Sold in February 2010
We had 29 homes sell in the Carson Valley in February 2010, up from 26 in January 2010. We’ve had a very busy winter, with almost 60 homes selling already during winter – a time when most people are not thinking about moving!
Here is a snapshot of our market indicators for February:
29 homes sold
Median asking price is $199,900
Median selling price is $210,000
Median days on market is 141
So what is the absorption rate for the Carson Valley?
There are 383 homes available for sale in the Carson Valley as of 3/8/2010
29 homes sold in January
383/29 = 13.2 months of inventory
Since the number of sales slowed in February from our (recent) normal average of 40-50 homes per month, our absorption rate has increased a few perentage points. It is still better than the 14.5 from January. A more telling indicator of the activity in the market is the question “How many homes are pending right now?” As of today, there are 128 homes under contract – a 3 month high. This is much more indicative of what we are seeing in our office – Since January 1, 2010, the RE/MAX Gardnerville office has opened 92 escrows. That’s an incredible volume when you consider the fact that it’s still Winter! Of the 128 pending home sales, 22 are bank owned, 59 are short sales, and 1 is subject to court approval.
Of the 383 homes on the market, 29 are bank owned, 58 are short sales, and an additional 3 are Subject to Court Approval. That means that 23% of our market is distressed. Slowly but surely our distressed property percentage of the market is shrinking? Will that continue? I’m not sure – my instinct tells me the next wave will be jumbo loan defaults and foreclosures in our area – how that will affect our market is anyone’s guess.
(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 300, known as the Carson Valley which includes Gardnerville, Genoa, Minden, Indian Hills area of Carson City, China Springs, Spring Valley, Topaz Ranch Estates and outlying areas.)
Carson Valley Real Estate – Homes Sold in January 2010
We had 26 homes sell in the Carson Valley in January 2010, compared to 21 sales in January 2009. January historically is a slow month for home sales, so this is not altogether surprising, and certainly nothing to be alarmed over. Most escrows take 45 days to close and that means home buyers would need to be out shopping for homes in December. Instead, people were enjoying their Winter Holidays.Â
Here is a snapshot of our market indicators for January:
26 homes sold
Median asking price is $236,400
Median selling price is $233,000
Average days on market is 120
So what is the absorption rate for the Carson Valley?
There are 377 homes available for sale in the Carson Valley as of 2/4/2010
25 homes sold in January
377/26 = 14.5 months of inventory
Since sales slowed in January, our absorption rate slipped a few perentage points. The key indicator we need to inquire is how many homes are pending right now? As of January 4, 2010, we had 84 homes under contract in the Carson Valley. As of today, there are 115 homes under contract. That’s an increase of 37% and clearly demonstrates that as soon as the holidays ended, the buyers came back out into the marketplace. Of the 115 pending home sales, 57 are pending short sales and 23 are bank owned properties.
Of the 377 homes on the market, 43 are bank owned, 53 are short sales, and an additional 4 are Subject to Court Approval. That means that 25% of our market is distressed.
(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 300, known as the Carson Valley which includes Gardnerville, Genoa, Minden, Indian Hills area of Carson City, China Springs, Spring Valley, Topaz Ranch Estates and outlying areas.)
Minden and Gardnerville, Nevada
Minden and Gardnerville real estate fits many lifestyles. Whether you prefer country and ranch estates, private luxury communities, seasonal homes, rural locations, or in-town communities, the real estate for sale in Minden and Gardnerville provides a solution to meet your individual lifestyle.
Minden Village Homes Sold Since June 1, 2010
1320 Highway 395 N