Douglas County Update

DOUGLAS COUNTY MARKET INFORMATION

This topic is important to you whether you are buying or selling in teh Carson Valley area. If you are buying, it is helpful to know what the average time on the market is and whether or not it is still abuyer's market, to help with your negotiation standpoint. If you are a seller, knowing about market time and average prices helps you understand what to expect out of your real estate agent now and what expectations you may have that aren't realistic. Everybody is happier when they are well informed!!

Here is some data about Douglas County in the past 60 days:

57% of Residential listings have expired, that is they were on the market for a time specified in the listing agreement with the Broker and did not sell. 35% of Residential listings have sold, this is consistent with the last market update I did. The average time on the market for those listings that sold was 151 days.

There is a total of 728 homes on the market currently in Douglas County. 186 of those came onto the market in the past 60 days. There were 65 sales in the past 60 days. If this sounds dishearteing to you as a seller, cheer up over this: MLS listings continue to sell at an average of 94% of asking price. This is excellent because even in a seller's market we see an average sale to list price ratio of the mid nineties. This tells us that Realtors are assisting sellers in pricing their appropriately and that when an offer is made, our negotiation skills are standing strong.

It is a great time to buy with so much to choose from on the market today. A great time to buy makes a great time to sell.