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.)