Dayton NV Homes - October 2009 Real Estate Market Update

Dayton NV Homes - October 2009 Dayton Valley NV Real Estate Market Update

We had 32 home sales in the Dayton Valley in October 2009, another marked increase over October 2008 when 18 homes sold. October makes the third month in a row where sales volume has (nearly) doubled year over year.

Here are the statistics for Dayton Nevada Homes Sold in October 2009:

• 32 homes sold
  
• Average asking price is $171,161
• Average selling price is $166,584
• Average days on market is121

So what is the absorption rate for the Dayton Valley?

• There are 100 homes on the market as of 11/4/09
• 32 homes sold in October
  
• 106/27 = 3.13 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 100 homes on the market, 24 are bank owned and 20 are short sales. The number of homes on the market continues to shrink and buying activity is holding steady. This is why we're seeing increases in the asking prices and selling prices in Dayton. With such low inventory, the Dayton Valley Nevada real estate market is furthering our opinion that it has become a seller's 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.)