Today there are 132 homes for sale in the Dayton Valley area. This is down from 146 homes available for sale from a month ago. Of the 132 homes available for sale, 21 are bank owned and 23 are short sale. That means 51 – or 33% – of the market is distressed.
How is the absorption rate looking for Dayton? Let’s take a look…
- Dayton currently has 132 homes on the market.
- In May, 22 homes have sold to date (and the month isn’t over yet!)
- 132 / 22 = 6 months
In April, the absorption rate was 6.6 months. In March, the absorption rate was 10.55 months. In February, the absorption rate was 14.46, and in January, the rate was 20.42. We now have 5 months of trend where the absorption rate is dropping in Dayton! This is great news!
The next trend to follow after supply stability is price appreciation. The Dayton market is the first market in Northern Nevada to report a ‘normal’ absorption rate, which is defined as 5-7 months of inventory on the market.
Today, there are 85 properties under contract / pending in Dayton. That’s a lot of homes to close escrow in the coming months further demonstrating the Dayton Valley real estate market’s recovery.
If you’re a buyer debating buying a home right now in Northern Nevada, don’t wait for these statistics to continue to trend upward. It may just cost you the house of your dreams.
(Our data is from the NNRMLS, Pulled all Active listings, Dayton Valley area (Area=420, 416, 414, 412, 410, 402.)