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.
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!
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®.
The Minden-Gardnerville area had 41 sales during this year’s first quarter as compared to 43 last year. Average days on market increased slightly to 95 days from 89 days. The only significant change was the increase in the areas median sales price. Attributed mostly to a lack of housing inventory we saw a 7.1% increase in the median sales price from $350,000 last year to $375,000 during the first quarter of 2019. The least expensive home sold for $167,500 and was located in downtown Minden off of Mono Avenue. The highest priced home was at the newer development of La Costa at Monte Vista in Minden and sold for $584,950. If you need assistance obtaining real estate related documents, or obtaining an estimate of your homes current value please don’t hesitate to contact me.
There are currently 15 active listings, and 15 pending listings in Gardnerville. Five sales have closed thus far this year. Its been busy considering the changes in weather but time waits for no one, said my father.
Minden is busy as well with 13 current residential listings. Three more are currently pending sale. Minden has also had 8 sales close this year as compared to five in Gardnerville. I expect prices to continue their upward trend but at a slower pace than 2018.
Single Family home values in 2018 continued their climb in the Carson Valley. As a result lack of inventory contributed to price increases as shown below. What happens in 2019 will be determined by home values and inventory levels. There were very few bank owned listings in 2018 and I expect home values to stabilize this year. Real estate is a safer bet in my opinion as compared to stocks and bonds. For specific information on your area or neighborhood please feel free to contact me at RStiles@ChaseInternational.com.