Monday April 25, 2016
Western Title's
Executive Summary
MINDEN, NV
Single Family Homes
Courtesy of Laura Moline, RE/MAX Realty Affiliates
This Week
The median list price in MINDEN, NV this week is $399,000.
Inventory is up and Market Action is trending down recently. While
days-on-market appears to be trending lower, the overall
conditions are weakening a bit.
Real-Time Market Profile
Trend
Median List Price
$ 399,000
Asking Price Per Square Foot
$ 182
Average Days on Market (DOM)
125
Percent of Properties with Price Decrease
21 %
Percent Relisted (reset DOM)
1%
Percent Flip (price increased)
8%
Median House Size (sq ft)
2186
Median Lot Size
0.25 - 0.50 acre
Median Number of Bedrooms
3.0
±+
±+
≠≠
Median Number of Bathrooms
Supply and Demand
Market Action Index
The Market Action Index has been trending lower for several weeks
while prices have remained relatively stable. If inventory continues
to grow relative to demand however, it is likely that we will see
downward pressure on pricing.
±+
No change
3.0
Buyer's Advantage
27.3
≠≠
== Strong upward trend ≠≠ Strong downward trend
= Slight upward trend ≠ Slight downward trend
Price
Market Action Index
The market is hovering around this plateau. Look for a persistent
change in the Market Action Index before we see prices deviate
from these levels.
Price Trends
7-Day Rolling Average
90-Day Rolling Average
Buyer/Seller Cutoff
The Market Action Index answers the question "How's the
Market?" by measuring the current rate of sale versus the
amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.
Quartiles
7-Day Rolling Average
Characteristics per Quartile
Quartile
Median Price
Sq. Ft.
Top/First
$ 649,900
3183
Upper/Second
$ 449,900
Lower/Third
Bottom/Fourth
Lot Size
90-Day Rolling Average
Investigate the market in quartiles where each quartile is 25% of homes
ordered by price.
Beds
Baths
Age Inventory New Absorbed DOM
1.0 - 2.5
acres
4.0
4.0
11
25
1
0
151
Most expensive 25% of properties
2588
0.50 - 1.0
acre
3.0
3.0
14
25
1
0
162
Upper-middle 25% of properties
$ 352,500
1966
0.25 - 0.50
acre
3.0
2.0
18
26
2
2
86
Lower-middle 25% of properties
$ 284,750
1619
6,501 8,000 sqft
3.0
2.0
20
26
4
0
105
Least expensive 25% of properties
Western Title Company- Since 1902
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