Dayton Real Estate Update - December, 2007

Posted by Mitch Argon / CalNeva Realty on Monday, December 10th, 2007 at 7:36pm.

Dayton, NV Real Estate - Update for December, 2007

This post provides some narrative insights into the Dayton Nevada real estate market.  If you are interested in tracking the market, subscribe to  The Greater Reno-Tahoe Real Estate Report, a free, monthly e-report showing charts and graphs of key Dayton Nevada real estate market trends and statistics. Please note: this post contains information for homes sold in November, 2007 and inventory levels in December, 2007.

Dayton Median Home Price

The Dayton median home price for November, 2007 was $240,000.  This is down 20% from the Dayton median home price in November of 2006.  Interestingly enough, the Carson City median home price in November was $246,000.  If the Carson City prices stay anywhere close to the Dayton prices, it's likely to keep more buyers in Carson City until the Dayton median home price re-adjusts downward.

Dayton NV Homes For Sale

There are approximately 221 homes for sale in Dayton in December, 2007.  Last December there were 179 homes listed - this represents a 23% increase.  Compared to other markets in the region, Dayton home inventories have risen much faster through most of 2007.

Dayton Homes Sold

There were 10 Dayton homes sold in November, 2007.  This is down 55% from November, 2006.  This decrease in the number of homes sold combined with increasing inventories is the driving force behind downward median home pricing pressure. 

Dayton Real Estate - Buyer or Seller Market?

The Dayton real estate market is still a solid Buyer's Market with months of inventory at 16.4 months (up from 8.9 months in December, 2006).  Again, this is good information for well qualified home buyers.  For those needing to sell a Dayton home in the near term, this is not good news.

Mitch Argon
Broker - CalNeva Realty

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