Carson Valley Real Estate – November and December 2012 Home Sales Report
The Carson Valley real estate market continued flattened for the last two months of 2012. Typically, this time of year, sales of homes in the Carson Valley hit their tell-tale cyclical drop-off with the beginning of the holiday season. However, sales remained strong through the last two months of the year, with an excellent 74 homes selling in December.
Carson Valley homes sales numbers for November 2012:
- 59 homes sold
- Median asking price is $185,000
- Median selling price is $179,000
- Median days on market is 118
Carson Valley homes sales numbers for December 2012:
- 74 homes sold
- Median asking price is $202,400
- Median selling price is $200,500
- Median days on market is 123
So what is the absorption rate for the Carson Valley?
- There are 185 homes for sale in the Carson Valley as of January 17, 2013
- An average of 66.50 homes sold over November and December
- 185 / 66.50 = 3.78 months of inventory
Calling all Buyers: This isn’t your real estate market anymore. Of the 185 homes available for sale, only 12 are short sales, and 13 are bank owned. That means 13.5% of our market is distressed. The number of homes that are distressed is significantly different than the 36+% numbers from a year 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.)