Carson Valley 12 month Real Estate Update

An update of the Carson Valley real estate market for the past 12 months shows the number of residential sales declined 6% from 2018 figures, down to 748 units. Median sales prices during the same time period increased 4.2%. However the Lake Tahoe area of Douglas County heated up in 2019 with a 25% increase in the number of residential homes sold. The increase in numbers from 106 to 133 units does not include 6 lakefront sales. The median sales price for the lake area also increased 13.9% to $900,000. I’m seeing an increase in the number of families wanting to leave California. Happy Holidays! Sign up below for my future blog post.

Latest Real Estate Report

NAR

Here come the holidays. It’s the time of year for good cheer. It’s also the time of year when many sellers take their homes off the market, or wait until January to list them. But the smart money says they’re wrong to do so. For one thing, there’s usually less competition to attract would-be buyers during the holiday season. Busy with holiday parties, buying gifts and perhaps taking a family vacation, sellers don’t have the time to make their homes ready for sale, so they don’t even bother. But if they wait, other folks in the same boat will also be listing their houses. And before long, all of you could be vying for the same buyer. For another thing, people out looking at houses during the holiday season are not tire-kickers. They’re serious. They are just as busy as you are, but they’ve made buying a priority. Some need to find a place right away — maybe they’ve been transferred into the area, for example. And since they won’t have much inventory to choose from, you might be able to sell quicker — and at a higher price. Inside, your holiday decorations will make the house festive and welcoming. Yes, you’ll have to keep the place tidy. But nothing is as inviting as holiday decor. “Decorated homes engage the emotions,” says Debbie Reynolds of Platinum Properties in Clarksville, Tennessee. “Remember: Emotions buy.” Source: Lew Sichelman, The Housing Scene

A new survey by the National Association of Realtors found that 63% of those polled in Q3 2019 say they believe now is a good time to buy. Of those respondents, 34% said they “strongly” believe now is a good time to buy. “Interest rates are at historically low levels, so I see no sign of the optimism about home buying fading,” said NAR’s Chief Economist Lawrence Yun. The survey reported that of those who believe now is a good time to buy, the silent generation (born between 1925 and 1945) were most likely to believe now is a good time to buy, with 75% expressing that belief. Older baby boomers (those born between 1946 and 1954) followed as 72% believe now is a good time to buy a home. According to the NAR, 54% of respondents who have an income of under $54,000 said now is a good time to buy a home. The amount of people who believe now is a good time to buy increased as incomes went up, rising to 64% for those earning between $50,000 and $100,000. Seventy-two percent of those who make more than $100,000 say now is a good time to buy. “Not surprisingly, as incomes increase, the process of buying a home is less of a strain,” Yun said, “This has always been the case, but in this third quarter survey, we see it to an even greater extent – high earners are more open to buying a home.” Source: DS News

A strong economy, coupled with low interest rates, has jacked up the demand and the prices for vacation homes, according to data from the National Association of Realtors (NAR). The data focused on 206 counties, or 6.6 percent of the total housing market, identified by the U.S. Census Bureau as vacation home counties. The median sale prices within vacation home counties increased by 36 percent between 2013 and 2018, compared to the 31 percent increase during the same period on all existing and new home sales. “Some people may visualize the common popular vacation destinations in the U.S. when considering a vacation home, such as counties in Florida or California,” said NAR Chief Economist Lawrence Yun. “And although those locations have their share of vacation properties, we see that some homeowners prefer some of the other counties, including those in Massachusetts and New Jersey. These areas are often known for harsh weather conditions, but are popular nonetheless.” Source: NAR 

Carson Valley Real Estate Update for October 2019

Carson Valley Update

Days on market in October increased in both the 89410 zip code and the rest of the Carson Valley areas. However the total number of sales in the Carson Valley declined by 11% while the 89410 zip code remained the same as at this time last year. The median price in the 89410 zip increased by 2.7% over last year though while the entire Carson Valley declined by 6.3%. This last bit of information really only says that those with lower priced homes decided to sell outside the 89410 zip while those within the downtown, Ruhenstroth and Pinenut areas had sales from higher priced listings. The important figures to note here are the increase in the days on market and the decline in the total number of sales. This typically means a slowdown in the market place however we’ll watch to see what occurs over the next few months to see. Please call if I can help you with any real estate related questions or concerns. Robert Stiles, REALTOR® CHASE INTERNATIONAL NV BS.1001136

Saratoga Springs Estates Update

saratoga springs estates update

The community of Saratoga Springs Estates has been quite busy over the past year.  There have been 28 sales with a median sales price of $499,000.  Days on market has averaged 79.  There are currently 6 active listings as of September 29, 2019 with two more properties in escrow.  Saratoga Springs has a Homeowners Association which is currently managed by Incline Property Management.  Dues cover common area maintenance and are currently $240 annually.  For more information contact Robert Stiles, REALTOR® at 775-309-8454.

Homes Listed in The Ranchos

Ranchos Area

41 listings on the market as we head into the weekend.  Prices range from $279,900 for a 3/2 built in 1987 off of Victoria Drive to a $1,260,000 4/4 on Glenwood.  I will have an open house Saturday from 10 am to 1 pm at 619 Kathy Court.  Listed at $319,900 this 3/2 is located in a wonderful cul-de-sac location.  Contact me if you would like a list of those 41 properties.  Have a nice weekend!  Robert Stiles, Realtor® Chase International 775-309-8454

2019 Mid-Year Stats

Mid-Year Stats 2019

Mid-Year Stats for Chichester Estates and Heybourne Meadows. The larger percentages recognized in 2019 are due to increased sales this year at Heybourne.

Learn more about our area community by signing up for my website blog. It offers local news and events for those curious about our area.

Carson Valley Real Estate Update

4th of july banner

I’ll keep it short and sweet for the holiday.

Through the first two quarters of 2019 the median residential sales price for the Carson Valley increased 5.9% to $428,000 versus this same time period last year.  The average number of days a residential home stayed on market was 101 days (104 last year).  The total number of sales thus far in 2019 is 373.  Last year we had a similar number at 378.

For more information contact your community Realtor®, Robert Stiles of Chase International at 775-309-8454.  Serving the Carson Valley with pride, service and dependability.  NV BS.1001136. Happy 4th!

Carson Valley Real Estate Update

Carson Valley Update

Eighty four sales have been recorded in the Carson Valley since April 1st.  Property sales are really beginning to heat up this spring.  Most of the sales have occurred in the downtown Gardnerville-Minden areas.  However Johnson Lane and the Ranchos are not far behind.  The median sales price for our area has been at $429,000.  The average days on the market for these properties have been a little over three months.  The lowest priced property sold for $168,088 off of Gilman Avenue in Gardnerville.  The highest priced property sold for $910,000 in Summit Ridge at Genoa Lakes.  For more information on your community visit CarsonValleyCommunities.com.

Carson Valley Condominium Marketplace

So what’s going on this week in the condominium marketplace?  I know at times I wish I owned a condominium so I could get away from doing yard work this time of year.  As of May 9th we currently have seven listings within the Carson Valley.  Eight more are in escrow, and twenty units have sold thus far in 2019.

Where is most of this market activity occurring?  Well, downtown Minden and Gardnerville look to be the most popular places to purchase.  The median sales price of those sold units is currently $213,500 as compared to $162,000 last year.  The lowest priced unit sold for $100,000, and was a bank owned property located in the Ranchos area.  The most expensive unit sold at The Esplanade at the Ranch for $368,420.

Twice as many units have sold this year so expect some competition from other buyers if you’re out there looking.  As always please contact Robert Stiles, Realtor® for additional information on your local community.  He works strictly for you!

Carson Valley 1st Quarter Statistics

welcome-to-cv-sign-logo

153 housing units sold in the 1st quarter at the Carson Valley. The predominant amount of listings sold (50) were in the $350,000 to $500,000 price range. Last year there were 167 units sold. The median sales price of those sold units increased 5% to $420,000. Six residences sold for $1,000,000+ in the Carson Valley. If you’re thinking of selling it pays to price it right. Don’t worry about being priced too low in today’s market. There are enough buyers out there right now to notice your home, and if priced right you’ll more than likely obtain multiple offers. Wouldn’t it be nice to choose your buyer? Go to CarsonValleyCommunities.com for more information or to contact Robert Stiles, Realtor®.