Hard to believe the 1st Quarter of 2012 is behind us. I know many of you are still scrambling to get your taxes done in the last 12 days before they are due. Sooooooo, what was happening in Incline Village and Crystal Bay Real Estate for the first three months of the year? Well…
2012 Sales By Month
Single Family Residences reported 11 Sales in January, 10 sales in February and 9 sales in March for a total of 30 sales this year, up by 36% over 2011 for the same time frame.
PUD-Planned Unit Developments or Freestanding Condominiums reported 3 sales in January, 2 in February and 1 in March for a total of 6 sales this year, even with last year.
Condominiums reported 8 sales in January, 4 sales in February and 6 sales in March for a total of 18 sales this year, even with last year.
Total Volume is down -18% over last year from $50, 979,300 in 2011 to $41,959,600 in 2012
Average Days on Market (DOM) is up 13% over 2011 from 250 average days on market to over 283
Median Price is down -22% overall. Single Family Residences are down -28% from $900,000 in 2011 to $650,000 in 2012 (OUCH!), PUD’s are even with last year hovering right around $701,500 and Condominiums are down -43% from $440,000 in 2011 to $250,000 in 2012 (That is HUGE!).
Average Price is down -35% overall. Single Family Residences are down -38% from $1,704,950 in 2011 to $1,062,917 in 2012, PUD’s are up 9% (Yeah!) with $615,250 in 2011 to $670,817 in 2012 and Condominiums are down -43% from $543,272 to $311,233.
The first Investment Residential property, a triplex sold this year for $445,000. The same property sold in 2005 for $850,000, for those of you bad at math that is almost 1/2 price!