Dayton NV Homes - Homes Sold in November 2009
We had 27 homes sell in the Dayton Valley in November 2009, another marked increase over November 2008 when 15 homes sold. November makes the fourth month in a row where sales volume has (nearly) doubled year over year.
Here are the statistics for Dayton Nevada Homes Sold in November 2009:
- 27 homes sold
- Average asking price is $166,572
- Average selling price is $165,652
- Average days on market is 151
This is remarkable because the gap between average asking and average selling price is less than $1,000, attesting to the tightness of the real estate market in the Dayton Valley.
So what is the absorption rate for the Dayton Valley?
- There are 105 homes on the market as of 12/21/09
- 27 homes sold in October
- 106/27 = 3.89 months of inventory
The absorption rate for the Dayton Valley continues to be strong and under the 5-7 months considered a normal supply. Dayton's affordability over neighboring Carson City, Reno / Sparks or the Carson Valley continues to be a big attraction over the higher priced areas.
Of the 105 homes on the market, 26 are bank owned and 31 are short sales. The number of homes on the market continues to hold steady, however over 50% of the market is distressed. So, the message with Dayton is loud and clear: If you want to get a good deal on a home, be patient. It's likely a short sale. It may take several months. But - if it's all you can afford, what are your other options? They are not plentiful in this tight market.
(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.)