What’s Up with Real Estate Prices in the Carson Valley?

This report includes the areas from Johnson Lane to the north, to our western state border, to Ruhenstroth south, and to the Pinenut areas out east.

There were 68 single family residential homes sold in April. The median sales price was $547,500 with an average of 84 days on market. Compared to April 2020 when we had 62 sales and a median sales price of $415,000 all I can say is, WOW. A 31.9% increase from one year ago.

I have calls from all over the United States inquiring about our area and I must say I see prices continuing to increase throughout 2021. Most homeowners are incredibly happy about their increased home values but a lack of rental property is also making for some tough decisions from those homeowners wanting to cash out. There is simply very few choices if you want to rent or stay within the Carson Valley.


Inflation seems to have reared its ugly head and crept into our local real estate market.

Sweeten the Deal!

home wanted

Waiving one or more contingencies isn’t the only way a buyer can entice a seller to accept their offer over others in a competitive situation. Buyers offering to pay a portion of the seller’s closing costs and taxes, or releasing the earnest money deposit early could help. Offering the seller a flexible timeline or allowing them to rent back the property temporarily after closing could be attractive too. Another option, instead of waiving the inspection, would be to offer a shorter window for it to take place to speed up the buying process. Working with a local lender rather than a larger, national company, in order to get a better appraisal could also help.

February Real Estate Update

The Carson Valley saw a similar number of single-family residential homes sold as compared to last year at this time. The median sales price however increased substantially to $580,000 with an average day on market of 73. Last year the median sales price was $399,000 with an average day on market of 89. Nearly half of February sales occurred in the Downtown areas of Minden-Gardnerville and the Johnson Lane community. March is starting off strong with 17 sales on the books outpacing February thus far. I’d be happy to sit down with you and discuss what your home is worth if you’re considering a move this year. Be safe!

Single Family Sales Have Declined

Single family sales have declined thus far this year in the Carson Valley. We have only had 71 home sales this year as compared to 90 in 2020. This is quite a change as compared to Douglas County up at the Lake where sales have more than doubled this year. Lack of inventory is the likely culprit as there are only 34 properties currently on the market starting at a price point of $228,000. To learn more about our local communities visit www.CarsonValleyCommunities.com.

Valley Knolls Subdivision

Valley Knolls Subdivision

The Valley Knolls Subdivision has begun some construction and grading work, according to Douglas County’s Public Information Officer Melissa Blosser.

The Valley Knolls Development is located in north Douglas County at the east end of Topsy Lane. It will have up to 178 single family units and 96 triplex units.

The development was approved in 2018 and also included a community center and recreational facilities; however, it is unclear if these buildings are still planned.

Building of the Valley Knolls Development should begin in a few months, said Blosser.

Learn more about our local communities by visiting our Communities page.

January Real Estate Update

January 2021 sales started off to a slow start compared to 2020 in the Carson Valley.  Total sales declined from 61 units in 2020 to only 43 last month.  The largest drop in sales occurred in the Downtown areas of Minden/Gardnerville.  The good news for current homeowners was the median sales price increase from $457,000 in January 2020 to $520,000 last month.  Days on market for those looking to sell declined from 108 days last January to 79 days last month.  Unfortunately for those looking to purchase I expect the upward price trend to continue into 2021.  For assistance in your area call Robert Stiles at 775-309-8454.

RUHENSTROTH

Located four miles south of Gardnerville, this area is known for being horse friendly. You won’t need a trailer to take off riding here. Many of the homes have private well and septic systems, but most are connected to natural gas. Home prices in 2020 have ranged from $379,000 to $865,000 with lot sizes averaging 1 to 5 acres. Learn more about our local communities by visiting our community link.

Nevada Open Houses

NV REALTORS®

Nevada’s Governor announced a plan to commence all in-person showings and open houses of single family and multi-family residences currently occupied and on the market for sale, effective at 12:01 a.m. on October 1, subject to the following limitations:

  1. Showings and open houses of properties may not take place with the occupant present.
  2. Showings of properties are limited to one prospective buyer and one real estate professional for both the seller and prospective buyer at a time. For the purposes of this provision, “a prospective buyer” includes the buyer and the buyer’s spouse, domestic partner, business partner, or family members.
  3. Sellers conducting an open house are responsible for ensuring that there will not be more than one prospective buyer viewing a property at any given time. This may require having an individual present to properly meter prospective buyers entering an open house.
  4. Sellers are encouraged to utilize appointments for in-person showings and open houses to the greatest extent practicable.
  5. Real estate professionals are encouraged to utilize three-dimensional interactive property scans, virtual tours, and virtual staging to the greatest extent possible.
  6. Real estate professionals are encouraged to avoid in-person transactions and services to the greatest extent practicable.
  7. Real estate professionals must require all participants at in-person showings and open houses to wear face coverings at all times pursuant to Directive 024 and must follow CDC guidelines for in-person showings and open houses.
    Some additional guidelines recommended by the CDC and Nevada REALTORS® are as follows:
    • All visitors maintain 6ft;
    • Real estate professionals have available gloves and hand sanitizer for use and remind clients to not touch surfaces when viewing property as well as wipe down surfaces as frequently as possible.

Chichester Estates Update

Chichester Estates Update

Chichester Estates has had 33 homes sold within its community this year. Last year through the same time period (1/1 – 9/26) we had 30 sales. Homeowners will be happy to know the median sales price also increased from $374,500 to $387,000 this year. If you’re looking to sell, the average days on market is 48 as compared to 63 last year. Chichester Estates has a homeowners association with annual dues of only $60. This money goes to pay their management company which oversees their CC & R’s.

For more information on this community or others within the Carson Valley contact Robert Stiles, REALTOR®, Broker NV.B1001136 at 775-309-8454. Visit our website at https://www.carsonvalleycommunities.com/.

NV Governor Reverses Course

In a disappointing move this evening, Governor Sisolak extended the eviction moratorium. (See the Original Directive #25 here)

This extension would continue the prohibition on evictions based on non-payment of rent. Other types of evictions such as those due to damage, crime or danger to a tenant or other occupant, were lifted August 1, and are not affected by this recent extension. Nevada REALTORS® recognizes the hardship that this places on landlords. 

The extremely short time notice given thrusts landlords planning a valid eviction for non-payment into a skidding halt. Further, while tenants have had access to financial relief from many sources, landlords have gone over 5 months in some cases without seeing rent from the very tenants who are receiving the government relief.
 
Open houses and in-person showings of tenant-occupied properties are still prohibited.