With March behind us we have now completed the 1st Quarter of 2012 and the statistics are in for Incline Village and Crystal Bay Real Estate Sales. You can view the details of that right here on our blog. Sadly March numbers for 2012 are down compared to 2011. Inventories are down across the board which is GREAT, but it would be wonderful to watch some sales skyrocket and pull us out of this dragging market.
Inventory for Single Family Homes is down -9% with only 110 active homes on the market. Just to give you some perspective at the height of the market in the Summer of 2005 & 2006 we were averaging around 225 active homes on the market. PUD’s are down -17% over 2011 and Condominiums are down -12% over 2011.
Escrows are up 11% for Single Family Homes, down -350% over 2011 and down -6% for Condominiums.
Sales are down -22% for Single Family Homes, down -200% for PUD’s and down -17% for Condominiums.
These numbers seem rather bleak considering our sales remain steady month to month, but it is what it is. Hopefully the downturn in supply and the good interest rates will stimulate some additional sales in the market and begin pulling us in the right direction.
Click here for a full breakdown of numbers in each price band and category. This is most important when shopping for real estate or figuring out pricing on the sales side of things. Market Data Retrieval March 2012