Could it be true? Could the Carson Valley Nevada Real Estate market be nearing the bottom and stabilizing? I say, YES, and here’s why I think so.
As I have said in previous posts, I like to follow the numbers, because to me, the numbers donâ€™t lie. I have pulled data from the Multiple Listing Service and here’s what I see:
The graph starts in June 2007 and shows an average sales price for each month. If you look closely, you’ll see that January 2009 appears to be a low spot.
The most important thing to see is the very end on the right hand side. Do you see it? Not only is it not flat, it’s creeping up ever so slightly. Over the last 3 months, the average selling price has stayed within $10,000 of the previous month’s number. So basically, the average selling price held steady. I believe this indicator is predicting the bottom of the market.
Here is my chart that I update every month with these statistics:
If you look at the average sales price for February, March, and April, you’ll see what I’m saying. You’ll also see that the per square foot price seems to be hanging in right around $140-145 as well.
Of course, only time will tell if my prognostication is right. One thing you CAN count on is I will share this information with you again next month and we’ll see if the glass really is half full and it’s time to be optimistic!
(Data provided courtesy of the Northern Nevada Multiple Listing Service and covered Area 300 which is all of Gardnerville, Minden, Genoa and outlying Carson Valley areas.)