Carson Valley Real Estate - Homes Sold in November 2009

We had 57 homes sell in the Carson Valley in November 2009, compared to 29 sales in November 2008. With 59 homes sold in October 2009, we're still selling homes at an even pace, and we're much improved over the previous year. Sales volume was 193% higher in 2009 than it was in 2008.

Here is a snapshot of our market indicators for November:

• 57 homes sold
  
• Average asking price is $325,374
• Average selling price is $306,414
• Average days on market is 175

The average asking and selling price for Carson Valley Real Estate continued it's reasonable and historic average in November. 

So what is the absorption rate for the Carson Valley?

• There are 418 homes available for sale in the Carson Valley as of 12/16/09
• 57 homes sold in November
  
• 418/57 = 7.33 months of inventory

The absorption rate has remained essentially the same in November when compared to the previous month. As of December 16, 2009, we have 113 homes under contract in the Carson Valley. Of the 113 homes under contract, 60 are pending short sales (which are closing at a much higher success rate in the last 60 days) and 22 are bank owned properties.

Of the 418 homes on the market, 48 are bank owned, 49 are short sales, and an additional 3 are either Subject to Court Approval. That means that 24% of our market is distressed.

 (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.)

Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - REALTOR® with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate & Northern Nevada Homes.