Lahontan Real Estate Market Outlook: 2013 is showing signs that the housing market is truly on the rebound. There is a national trend toward fewer price reductions and tighter than normal inventory in markets across the country. Lahontan home inventories are almost at historical lows and truly reflecting these national trends. A signal that “times are a changing” is a total of 8 homes went into escrow or sold from December 2012 to January 2013 of this year!!!
Lahontan Home Sales: 2012 was relatively unchanged from 2011, for both years we sold 11 homes in Lahontan. The sales price range was from a low of $725,000 to a high of $2.18M. The median home price was $1.56M which was a 13% increase from $1.4M in 2011. The average sales price was relatively unchanged and the price per square foot dropped by almost 10% from $382 to $346 per square foot.
Lahontan Lot Sales: In 2012 we experienced a 55% increase in lot sales, going from 20 lots sold in 2011 to 31 in 2012. The average sales price remained almost unchanged year over year. The median sales price dropped considerably, over 32% decrease from 2011 to 2012, $127,000 to $86,000 respectively. The major contributing factor was 28 sales under $100,000, establishing a new price point for entry level lots. The sales price range of lots was from a low of $49,000 to a high of $410,000.
Lahontan Homes for Sale (Listings): There are only 8 single family residences for sale as of this writing. The median price of a home is approximately $1.92M and the average asking price is $1.83M. The price range of homes starts at $1.1M and tops out at $2.8M.
Lahontan Lots for Sale (Listings): There are currently 44 lots for sale, at a median price of $169,000 and an average price of $215,000. The lots listed for sale range in price from a low of $50,000 to a high of $215,000.