Carson Valley Real Estate - January to June 2009 Sales - A Comparison

Carson Valley Real Estate - January to June 2009 Sales - A Comparison

Today, I received a question on my blog asking me about how asking prices have compared to actual selling prices in the Carson Valley for the first half of the year. Since it seems as though the market is moving at drastically different paces depending on price, I have pulled all Carson Valley sales and have broken them down by price to see if my instinct is correct. Here's the summary:

Price Bracket: $0 - $200,000

• 71 Homes Sold
• Average Asking Price: $166,405
• Average Selling Price: $160,510
• Percentage of Asking to Selling: 96.90%

Price Bracket: $200,001 - $300,000

• 84 Homes Sold
• Average Asking Price: $256,050
• Average Selling Price: $246,692
• Percentage of Asking to Selling: 96.54%

Price Bracket: $300,001 - $400,000

• 37 Homes Sold
• Average Asking Price: $364,331
• Average Selling Price: $342,245
• Percentage of Asking to Selling: 94.66%

Price Bracket: $401,000 - $500,000

• 18 Homes Sold
• Average Asking Price: $489,816
• Average Selling Price: $461,185
• Percentage of Asking to Selling: 94.50%

Price Bracket: $500,001 - $750,000

• 12 Homes Sold
• Average Asking Price: $658,023
• Average Selling Price: $591,486
• Percentage of Asking to Selling: 90.53%

Price Bracket: $750,001 +

• 6 Homes Sold
• Average Asking Price: $1,578,000
• Average Selling Price: $1,287,000
• Percentage of Asking to Selling: 86.98%

What do we see from all this data? It's clear that the higher the price bracket, the larger the difference between the asking and selling price, and thus, the softer the market. The reason I combined all sales above $750,000 was because there were only 2 between $750,000 and $1,000,000 which made for a very small data set.

I will do this same analysis at the beginning of January and then we can compare the first half of the year to the second half and see if we can find any trends to help us figure out if the market is strengthening or softening. Judy, thanks for the question, and keep them coming!

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