Carson Valley Real Estate – January 2011 Home Sales Report
The Carson Valley real estate market typically is pretty quiet in January. Winter is upon us, and most people are bundled up, storing away holiday decorations, and trying to live up to all those New Year’s Resolutions! However, in January 2011, we saw a phenomenon from long ago come back around…home sales! That’s right, the Carson Valley area saw 44 home sales in January 2011. That is really big news when you consider sales volume for January’s of the past. In 2009, we saw a mere 22 home sales. In 2010, we had 27 homes sell in January. Home sales volume is UP, and that is really good news.
Here are Carson Valley homes sales numbers for January 2011:
- 44 homes sold
- Median asking price is $171,900
- Median selling price is $169,950
- Median days on market is 129
So what is the absorption rate for the Carson Valley?
- There are 340 homes for sale in the Carson Valley as of February 22, 2011
- 44 homes sold in February
- 340 / 44 = 7.73 months of inventory
It’s official – We are officially having a normal market in the Carson Valley.Of the 340 homes available for sale, 84 are short sales, and 33 are bank owned. That means 34% of our market is distressed. However, 12 of the 44 sales in the Carson Valley during January were short sales, accounting for 27% of the sales. That’s good news. Short Sales in the Carson Valley are getting approved more and more quickly, and buyers are coming to understand that short sale listings are not impossible.
(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.)
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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.
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Christianne - Great real estate market report for Carson Valley. I think most areas are slow in January, including down here in sunny Florida.
Hi Christianne--I like the format you use for your market report. So nice to hear about your shortage! I view that as a sign that sales have picked up! Similar stats here in Indianapolis!
Hi Michelle - When our market was "normal" (what a misnomer!) we used to have 100 homes per month sell. The winter months averaged around 50. This is a really good sign for us. We'll see if we can average 70 home sales during the spring, summer and fall. That would be fantastic!
Pat - Thanks for the compliment. Glad to hear Indianapolis is trending the same. I wonder if that is something we'll start seeing in micro-markets all over the country. Could be the best indicator yet!