Dayton Nevada – Homes Sold in February and March 2010
Only 11 homes closed escrow in the Dayton Valley in February 2010, however, March saw a considerable increase with 25 homes sold.
Here are the statistics for Dayton Nevada Homes Sold in February:
- 11 homes sold
- Median asking price is $164,500
- Median selling price is $158,000
- Median days on market is 132
Here are the statistics for Dayton Nevada Homes Sold in March:
- 25 homes sold
- Median asking price is $144,000
- Median selling price is $145,700
- Median days on market is 84
So what is the absorption rate for the Dayton Valley?
- There are 114 homes on the market as of 4/13/10
- 25 homes sold in March
- 114/25 = 4.56 months of inventory
Of the 114 homes on the market, 24 are bank owned and 38 are short sales. The number of homes on the market continues to hold steady, however over 53% 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.)