Dayton Real Estate Market - At a Glance - March, 2008
I hope this new format for these posts is useful for you. If you like it, let me know below with a comment. If you hate it, tell me too. Please note: this post contains information for the period from October, 2007 to homes sold in February, 2008 and inventory levels in March, 2008.
Want all the data (and a monthly email update)? Subscribe to The Greater Reno-Tahoe Real Estate Report for free on my site.
Dayton Real Estate Market Data
Note: all % changes are from the same period one year ago. Column headings - "Month - Year".
|Dayton Real Estate||O - 07||N - 07||D - 07||J - 08||F - 08||M - 08|
|Inventory Change (annual)||25%||20%||23%||23%||7%||-2%|
|Sold Change (annual)||-33%||-55%||13%||-30%||-27%|
|Median Price (Thousands)||$ 232||$ 240||$ 239||$ 218||$ 226|
|Price Change (annual)||-4%||-20%||-4%||-11%||-3%|
|Months of Inventory||17.3||17.0||16.4||16.1||17.1||17.5|
|Mo. Inv. Change (annual)||82%||77%||84%||86%||48%||39%|
What does this mean?
If you are selling right now, you are not in an enviable position. Get a reality check and price your home aggressively or you may find yourself chasing the market down - pick your poison. Why is this so? Inventory is down 2% from one year ago - a good thing. Homes sold is down 20%+ in the most recent months from one year ago - a bad thing. The net result is an increase in Months of Inventory (tells you if it is a buyer or seller market - you can get all the details by subscriing to the report above) of 39% - that's huge - from one year ago. This number, currently at 17.5 months, will need to travel down to the 4 - 6 months range before we hit a market bottom.
The Dayton NV median home price was $226K - up a bit from the most recent trough of $218K. With the months of inventory mentioned above, it will go lower. Agree? Disagree? Leave a comment to see if we can spice things up here!
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