Carson City Homes for Sale - 2006 to 2007

Posted by Mitch Argon / CalNeva Realty on Sunday, December 2nd, 2007 at 2:42pm.

Hello  -  

Tracking the Carson City real estate market?  If you are contemplating Buying or Selling in the next 12 months, you may be wondering if the Carson City real estate market is moving towards a "buyer" or "seller" market?

Carson City Homes For Sale

Last December (2006), there were 396 Carson City Homes for Sale in the local MLS.  Currently (as of this post date), there are 402 Carson City Homes for Sale in the local MLS.  This represents a negligible increase of 6 homes compared to last year.  This would lead you to believe the Carson City real estate market is just a "tad bit" further into Buyer market territory from one year ago.

Months of Inventory

A better indicator is the months of inventory in the Carson City housing market has changed.  Last December (2006), the Carson City Months of Inventory was 9.0 (this means it would take 9.0 months to fully deplete the, then current, number of homes on the market - with no new additions).  Currently, the Carson City months of inventory is at about 12.2 months.  This represents a 36% increase.

Summary

In short, the Carson City market has moved 36% in favor of the home buyers in the last year.  The months inventory will need to get down to the 4 to 6 months range to reach a "neutral market".  With the expected amount of foreclosure sales in 2008, we will probably not likely see a "neutral market" until sometime in 2009 - at the ABSOLUTE earliest.  My point here is to educate with real numbers - I know this is not great news for sellers but still very useful information.

Want to dig deeper?  Subscribe to The Greater Reno-Tahoe Real Estate Report.  It is the best way to stay up on the Carson City real estate market.

Mitch Argon
Broker - CalNeva Realty

2 Responses to "Carson City Homes for Sale - 2006 to 2007"

Wally Murray wrote: As with all of the information on this site, this data is very useful to those of us with an interest in the real estate market. It is a very good resource for helping determine the local trends not only in Carson City, but throughout northwest Nevada.

Posted on Thursday, December 6th, 2007 at 11:48am.

Dianne M. Lucius wrote: Since I will be buying a home in the Carson City area, this is a very helpful tool to follow the trend in the housing market. Thank you

Posted on Wednesday, December 12th, 2007 at 1:43pm.

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