Only 11 homes closed escrow in the Dayton Valley in February 2010, however, March saw a considerable increase with 25 homes sold.

Here are the statistics for Dayton Nevada Homes Sold in February:

• 11 homes sold
• Median asking price is $164,500
• Median selling price is $158,000
• Median days on market is 132

Here are the statistics for Dayton Nevada Homes Sold in March:

• 25 homes sold
• Median asking price is $144,000
• Median selling price is $145,700
• Median days on market is 84

So what is the absorption rate for the Dayton Valley?

• There are 114 homes on the market as of 4/13/10
• 25 homes sold in March
• 114/25 = 4.56 months of inventory

Of the 114 homes on the market, 24 are bank owned and 38 are short sales. The number of homes on the market continues to hold steady, however over 53% of the market is distressed. So, the message with Dayton continues to be loud and clear: If you’re looking to buy in Dayton, it’s likely a distress sale and will either be a while to get escrow closed, or may have deferred maintenance and you’ll need to do some repairs if it’s bank-owned. However, the market has never been lower and you can buy a fabulous home for less than it costs to build.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Areas 420, 416, 414, 412, 410, 402, and 403 known as the Dayton Valley and the outlying areas.)

Only 10 homes closed escrow in the Dayton Valley in January 2010, compared to 12 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.

Here are the statistics for Dayton Nevada Homes Sold in January:

• 10 homes sold
• Median asking price is $144,500
• Median selling price is $142,000
• Median days on market is 88

So what is the absorption rate for the Dayton Valley?

• There are 114 homes on the market as of 2/4/10
• 10 homes sold in October
• 114/10 = 11.4 months of inventory

Of the 114 homes on the market, 25 are bank owned and 34 are short sales. The number of homes on the market continues to hold steady, however over 51% of the market is distressed. So, the message with Dayton continues to be loud and clear: If you’re looking to buy in Dayton, it’s likely a distress sale and will either be a while to get escrow closed, or may have deferred maintenance and you’ll need to do some repairs if it’s bank-owned. However, the market has never been lower and you can buy a fabulous home for less than it costs to build.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Areas 420, 416, 414, 412, 410, 402, and 403 known as the Dayton Valley and the outlying areas.)

Only 16 homes closed escrow in the Dayton Valley in December 2009, compared to 27 sales in November, and 13 sales in December 2008.

The Dayton Valley Nevada real estate market ended the year with 308 sales for all of 2009, substantially higher than the 176 sales in all of 2008. Indicators show that our market has definitively moved through the low point in sales volume. Basic economic models tell us that when sales volume improves and supply diminishes, price appreciation typically follows. We’ll continue to watch 2010 trends closely to see if this indeed is the case in the Dayton Valley.

Here are the statistics for Dayton Nevada Homes Sold in December 2009:

• 16 homes sold
• Median asking price is $129,900
• Median selling price is $127,450
• Median days on market is 92

While volume may have been lower than in previous months, that’s not too particularly surprising. The real estate market often enters a ‘quiet period’ between Thanksgiving and Superbowl Sunday when people focusing their attention on the holidays and traveling to see family over winter break.

So what is the absorption rate for the Dayton Valley?

• There are 109 homes on the market as of 1/8/10
• 16 homes sold in October
• 109/16 = 6.8 months of inventory

The absorption rate fluctuated this cycle because of the decrease in the number of closed escrows during December. Look to the absorption rate to start trending back down in January and be back below 4 months in February if inventory levels remain constant. Dayton’s enduring affordability over neighboring Carson City, Reno, Sparks or the Carson Valley continues to be a big draw for homebuyers.

Of the 109 homes on the market, 27 are bank owned and 35 are short sales.The number of homes on the market continues to hold steady, however over 56% of the market is distressed. So, the message with Dayton is loud and clear: If you’re looking to buy in Dayton, it’s likely a distress sale and will either be a while to get escrow closed, or may have deferred maintenance and you’ll need to do some repairs if it’s bank-owned. However, the market has never been lower and you can buy a fabulous home for less than it costs to build.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Areas 420, 416, 414, 412, 410, 402, and 403 known as the Dayton Valley and the outlying areas.)

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If you enjoyed my blog post, I invite you to connect with me on social networks, subscribe to my blog, and watch my videos?

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About The Author

Christianne Gordon, REALTOR®, CDPE, SFR is a Northern Nevada Real Estate Specialist that can assist you with the purchase or sale of real estate in Gardnerville, Minden, Genoa, Carson City, Dayton, and Reno/Sparks.

To search all available homes for sale in the Northern Nevada area, please visit GreatNevadaHomes.com or contact us for a FREE ListingBook account!

This home was previously under contract but financing fell through, so now it’s back on the market! Better yet, the price was just reduced by the bank today to $179,900!!!

Enjoy this lovely home on the Dayton Valley Golf course, featuring an expansive Great Room with Kitchen, Dining Area, Ceiling Fan and Fireplace. The home features 3 bedrooms, 2 baths and a 2 car garage. The rear yard opens up onto the fairway of the golf course, providing exquisite views. The Master Bedroom incudes an alcove ideal for a library, study, office or just to enjoy a private living zone. The Kitchen features an island with breakfast bar, gas range, built in microwave and dishwasher.

If you’re interested in homes in Dayton, please call Christy at (775) 881-8223 or Steve at (775) 690-0685.

_____________________________________________________________________

If you enjoyed my blog post, I invite you to connect with me on social networks, subscribe to my blog, and watch my videos?

_____________________________________________________________________

About The Author

Christianne Gordon, REALTOR®, CDPE, SFR is a Northern Nevada Real Estate Specialist that can assist you with the purchase or sale of real estate in Gardnerville, Minden, Genoa, Carson City, Dayton, and Reno/Sparks.

To search all available homes for sale in the Northern Nevada area, please visit GreatNevadaHomes.com or contact us for a FREE ListingBook account!

We had 27 home sell in the Dayton Valley in November 2009, another marked increase over November 2008 when 15 homes sold. November makes the fourth month in a row where sales volume has (nearly) doubled year over year.

Here are the statistics for Dayton Nevada Homes Sold in November 2009:

• 27 homes sold
• Average asking price is $166,572
• Average selling price is $165,652
• Average days on market is 151

This is remarkable because the gap between average asking and average selling price is less than $1,000, attesting to the tightness of the real estate market in the Dayton Valley.

So what is the absorption rate for the Dayton Valley?

• There are 105 homes on the market as of 12/21/09
• 27 homes sold in October
• 106/27 = 3.89 months of inventory

The absorption rate for the Dayton Valley continues to be strong and under the 5-7 months considered a normal supply. Dayton’s affordability over neighboring Carson City, Reno / Sparks or the Carson Valley continues to be a big attraction over the higher priced areas.

Of the 105 homes on the market, 26 are bank owned and 31 are short sales. The number of homes on the market continues to hold steady, however over 50% of the market is distressed. So, the message with Dayton is loud and clear: If you want to get a good deal on a home, be patient. It’s likely a short sale. It may take several months. But – if it’s all you can afford, what are your other options? They are not plentiful in this tight market.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Areas 420, 416, 414, 412, 410, 402, and 403 known as the Dayton Valley and the outlying areas.)

For up to the minute information on homes available for sale from Reno to the Carson Valley, check out our links to the right. Search for homes, read our blog, and see other great videos about Northern Nevada neighborhoods and community events. If you’d like to speak to someone right away, please call Steve Orear at (775) 690-0685 or Christy Gordon at (775) 881-8223. Steve and Christy are REALTORS® with RE/MAX Realty Affiliates and deliver results for buyers and sellers across the Carson Valley, Northern Nevada and beyond.

We had 32 home sales in the Dayton Valley in October 2009, another marked increase over October 2008 when 18 homes sold. October makes the third month in a row where sales volume has (nearly) doubled year over year.

Here are the statistics for Dayton Nevada Homes Sold in October 2009:

• 32 homes sold
• Average asking price is $171,161
• Average selling price is $166,584
• Average days on market is121

So what is the absorption rate for the Dayton Valley?

• There are 100 homes on the market as of 11/4/09
• 32 homes sold in October
• 106/27 = 3.13 months of inventory

The absorption rate for the Dayton Valley continues to be strong and under the 5-7 months considered a normal supply. Dayton’s affordability over neighboring Carson City, Reno / Sparks or the Carson Valley continues to be a big attraction over the higher priced areas.

Of the 100 homes on the market, 24 are bank owned and 20 are short sales. The number of homes on the market continues to shrink and buying activity is holding steady. This is why we’re seeing increases in the asking prices and selling prices in Dayton. With such low inventory, the Dayton Valley Nevada real estate market is furthering our opinion that it has become a seller’s market.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Areas 420, 416, 414, 412, 410, 402, and 403 known as the Dayton Valley and the outlying areas.)

We had 27 home sales in the Dayton Valley in Sepmteber 2009, another 100%+ volume increasxe over September 2008 when 13 homes sold. September makes the second month in a row where sales volume has doubled year over year.

Here is a snapshot of our market indicators for September:

• 27 homes sold
• Average asking price is $176,081
• Average selling price is $172,301
• Average days on market is 160

So what is the absorption rate for the Dayton Valley?

• There are 106 homes on the market as of 10/7/09
• 27 homes sold in September
• 106/27 = 3.93 months of inventory

The absorption rate for the Dayton Valley continues to be strong and under the 5-7 months considered a normal supply. Dayton’s affordability over neighboring Carson City, Reno / Sparks or the Carson Valley continues to be a big attraction over the higher priced areas.

Of the 106 homes on the market, 14 are bank owned and 22 are short sales. The number of homes on the market continues to shrink and buying activity is holding steady. This is why we’re seeing increases in the asking prices and selling prices in Dayton. With such low inventory, the Dayton Valley Nevada real estate market is furthering our opinion that it has become a seller’s market.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Areas 420, 416, 414, 412, 410, 402, and 403 known as the Dayton Valley and the outlying areas.)

We had 30 home sales in the Dayton Valley in August 2009, a whopping 200% volume increase year over year when only 10 homes sold in July 2008.

Here is a snapshot of our market indicators for August:

• 30 homes sold
• Average asking price is $192,775
• Average selling price is $184,528
• Average days on market is 148

These numbers are an increase in the average asking and selling prices in Dayton compared to July.

So what is the absorption rate for the Dayton Valley?

• There are 111 homes on the market as of 9/6/09
• 30 homes sold in August
• 111/30 = 3.70 months of inventory

The absorption rate for the Dayton Valley continues to be strong and under the 5-7 months considered a normal supply. This is a huge turnaround from the 30+ months of inventory we had at the beginning of the year. Dayton’s affordability continue to be a big attraction over the higher priced areas of Reno, Carson City and the Carson Valley.

Of the 111 homes on the market, 14 are bank owned and 27 are short sales. The number of homes on the market has shrunk from July’s 119 homes available for sale, and buying activity is holding steady. This is why we’re seeing increases in the asking prices and selling prices in Dayton. With such low inventory available, the Dayton Valley Nevada real estate market is quickly becoming a seller’s market.

With the first time homebuyer credit expiring on December 1, 2008, there’s a big incentive for homebuyers to get out there and buy a home. Will it be extended? Who knows??? If you’re a buyer debating buying a home right now in Northern Nevada, don’t wait for these statistics to continue to trend upward. It may just cost you the house of your dreams.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Areas 420, 416, 414, 412, 410, 402, and 403 known as the Dayton Valley and the outlying areas. Dayton Valley photograph courtesy of JeffMoser – Flickr.com)

In the first post, we covered the topics “Why Should I Own A Home?” and “Why Should I Use a REALTOR®?”. In the second post, we covered “Real Estate Commissions Explained” and “7 Steps to Prepare for Home Ownership”.

Whether you’ve owned a Northern Nevada home before, or you are a first time Northern Nevada home buyer, having a Buyer’s Guide can be a very helpful tool before, during, and even after the homebuying process.

Since most people don’t buy and sell homes every month, let alone every year, we have put together a fantastic 36-page Northern Nevada “Just For Buyers” Guide.

In this post, we’ll be covering “Your New Northern Nevada Home Wish List” and “Tips to Finding the Perfect Neighborhood”.

Your New Northern Nevada Home Wish List

While opinions on the type of home you want to own may change during the home buying process, use this easy checklist to help you prioritize and make the shopping process less time consuming.

How close do you need to be to:

• Public transportation

• Schools

• Airports

• Freeways

• Neighborhood shopping

• Recreational pursuits

• Other?______________________________________________

Other questions to Consider:

• What neighborhoods would you prefer?

• What are your future plans? (Growing the size of your family, kids moving out?)

• What school systems do you want to be near?

• What architectural style(s) of homes do you prefer?

• Do you want a one-story or a two-story house?

• How old a home would you consider?

• How much repair or renovation would you be willing to do?

• Do you have special facilities or needs that your home must meet?

• Do you require a fenced yard or other amenities for your pets?

Tips for Finding the Perfect Northern Nevada Neighborhood

The Northern Nevada neighborhood you choose can have a big impact on your lifestyle – safety, available amenities, and convenience all play their part.

1. Make a list of each of your Northern Nevada activities – your commute to work, health club, church – you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engaging in your most common activities.
2. Want to know more about the school district? The Department of Education in your town can probably provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. If you have school-age children, also consider paying a visit to schools in the neighborhoods you’re considering. Even if you don’t have children, a house in a good school district will be easier to sell in the future.
3. Have questions about crime? Ask the police department for neighborhood crime statistics. Consider not only the number of crimes but also the type – burglaries, armed robberies – and the trend of increasing or decreasing crime. Also, is crime centered in only one part of the neighborhood, such as near a retail area?
4. Determine if the neighborhood is economically stable. Check with your local city economic development office to see if income and property values in the neighborhood are stable or rising. What is the percentage of homes to apartments? Apartments don’t necessarily diminish value, but they do mean a more transient population. Do you see vacant businesses that have been for sale for months?
5. See for yourself. Once you’ve narrowed your focus to two or three neighborhoods, go there and walk around. Are homes tidy and well maintained? Are streets quiet? Pick a warm day if you can and chat with the people working or playing outside. Are they friendly? Are there children to play with your family? Visit the neighborhood at different times – daytime during the week, at night during the week, on weekends in the evenings, and at other times.

In the fourth post in this series, we’ll discuss your “Get Your Finances In Order” and “Think Like a Lender: Let’s Do The Math”. If you’d like a FREE copy of our complete 36 page Northern Nevada “Just for Buyers Guide” just let us know. We’re happy to provide you with one to assist you on your road to home ownership.