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Dayton Nevada – Homes Sold in January 2010

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.)