Carson City, NV Real Estate Market - At a Glance - March, 2008
If you are a regular reader here, please let me know if this blog post format for a market report is any more useful than prior formats. Please note: this post contains information for the period from October, 2007 to homes sold in February, 2008 and inventory levels in March, 2008.
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Carson City Real Estate Market Data
Note: all % changes are from the same period one year ago. Column headings - "Month - Year".
|Carson City||O - 07||N - 07||D - 07||J - 08||F - 08||M - 08|
|Homes Sold Change:||-38%||-26%||-12%||0%||4%|
|Median Price (Thousands)||$ 280||$ 246||$ 287||$ 237||$ 315|
|Median Price Change:||-7%||-9%||-10%||-21%||4%|
|Mo. Inv. Change (annual)||45%||35%||36%||40%||28%||22%|
What does this mean?
The Carson City real estate market will have continued downward pressure on pricing due to the high "Months of Inventory" at 10.5 months (this is much better than Dayton which is in the 17 month range). This number is 22% higher than it was a year ago which means the market is farther away from correcting than it was a year ago. If you need to sell now, you will probably need to settle for less than what you'd like. If you are buying now, stay disciplined and make sure you are buying something at a price which is "under the current market low" to give yourself some room for further price depreciation.
The Carson City median price showed a nice bounce back from the recent trough of $237K in January. I would expect this to continue to fluctuate but will probably reach levels below the $237K mark in January.
Related Links of Interest
- Search MLS - all listings, no registration!
- Foreclosure Home Alerts by Email
- Subscribe to The Greater Reno-Tahoe Real Estate Report
- Recent Homes Sold - by city
If you have any questions about buying or selling in this market, give me a call at 775-315-4424.
Broker - CalNeva Realty