Today there are 107 homes for sale in the Dayton Valley area. This is down from 136 homes available for sale from a month ago and 146 from two months ago. Of the 107 homes available for sale, 16 are bank owned and 23 are short sale. That means 39 - or 36% - of the market is distressed. This is the same as last month when the numbers were different, but 35% of the market was distressed. It appears as though the Dayton market is no longer suffering from excess inventory - not to mention excess distressed inventory - dragging prices down.
How is the absorption rate looking for Dayton? Let's take a look...
- Dayton currently has 107 homes on the market.
- In June, 39 homes sold
- 107 / 39 = 2.74 months
In May, the absorption rate was 4.85 months. We now have 6 months of trend where the absorption rate is dropping in Dayton! This is great news!
With only 2.74 months of inventory on the market, it sounds ridiculous to even say this, but this is the second consecutive month of inventory shortage in the Dayton, Nevada area. Look to builders in the Dayton area to begin new construction again to feed the demand for product in this small, centrally located valley.
Today, there are 179 properties under contract / pending in Dayton. That's more than double the number of homes that were under contract at this same time last month (83).
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. And if you're a first time homebuyer, you only have until December 1, 2009, to take advantage of the $8,000 tax credit. It's a great time to be a homebuyer but the market winds are shifting. Don't miss the boat!
(Our data is from the NNRMLS, Dayton Valley area (Area=420, 416, 414, 412, 410, 402.)
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - Realtor with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate and Northern Nevada Real Estate.
_____________________________________________________________________________________________________________
Christianne Gordon, REALTOR®, CDPE, SFR, , PSC, e-PRO
Certified Distressed Property Expert - Short Sales & Foreclosure Resource - Pre-Foreclosure Certified
RE/MAX Realty Affiliates - Great Nevada Homes, Inc.
Direct: (775) 881-8223
Visit us online at GreatNevadaHomes.com or CarsonValleyShortsales.com
The information in Christianne Gordon's blog is deemed accurate but not guaranteed. Any individual considering a short sale should also seek independent tax and legal advice to get specific information as it relates to their personal situation. Christianne Gordon is a licensed real estate agent with RE/MAX Realty Affiliates serving the entire Northern Nevada region including Reno, Sparks, Carson City, Washoe Valley, North Valleys, Fernley, Dayton, Stagecoach, Minden, Genoa, Gardnerville, Smith Valley and Yerington.
Search the Northern Nevada Regional MLS Just Like An Agent - No Registration!
Read Our Northern Nevada Real Estate Blog
Notable Blog Posts You May Want to Read:
Northern Nevada Bank Owned Homes: What Is An REO?
