Carson Valley Real Estate – May 2012 Home Sales Report
The Carson Valley real estate market is continuing its upward trend and that is good news for our region. In May 2012, the Gardnerville/Minden region saw 67 homes close escrow. As long as inventory continues to be at record low levels, any home that is priced appropriately in decent condition is selling almost overnight.
Here are Carson Valley homes sales numbers for May 2012:
- 67 homes sold
- Median asking price is $184,500
- Median selling price is $175,000
- Median days on market is 98
So what is the absorption rate for the Carson Valley?
- There are 295 homes for sale in the Carson Valley as of June 8, 2012
- 67 homes sold in May
- 295 / 67 = 4.40 months of inventory
Buyers hear this! Our market has shifted course. It is quickly becoming a seller’s market. Of the 295 homes available for sale, only 36 are short sales, and 16 are bank owned. That means 18% of our market is distressed. The number of homes that are distressed is half what it was 18 months ago. With fewer bank owned and short sale homes available for sale, buyers are realizing that the days of the smoking hot below-market-value buys are gone. If you are going to try to buy a home in this market, be prepared for multiple offers, and even paying above asking price if you need seller to pay your closing costs.
(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.)