775-473-9531Dayton Real Estate Market - What's Happening - March, 2008
Posted by Mitch Argon / CalNeva Realty on Tuesday, March 11th, 2008 at 7:31pm.
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 | 253 | 237 | 221 | 200 | 211 | 213 |
| Inventory Change (annual) | 25% | 20% | 23% | 23% | 7% | -2% |
| Sold | 10 | 10 | 9 | 7 | 8 | |
| 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