Carson City saw a marked increase in the number of homes sold in May compared to April. In May, 40 homes sold, a 33% increase over April when 30 homes sold.
85% of the homes that sold in May sold for less than $300,000, demonstrating that home affordability is back in our state's Capitol. Half of the homes that sold in May sold for less than $200,000, so the lower-end is where the majority of the sales are occurring.
Today there are 275 homes for sale in the Carson City area. Of the 275 homes available for sale, 15 are bank owned and 36 are short sale. That means 51 - or 18.5% - of the market is distressed.
How is the absorption rate looking for Carson City? Let's take a look...
- Carson City currently has 275 homes on the market.
- In May, 40 homes sold
- 275 / 40 = 6.88 months
It's official - the Carson City real estate market is officially 'normal'! A normal market is defined as 5-7 months of inventory available for sale, determined by the absorption rate. This is the second market in Northern Nevada to 'normalize'.
If you're a buyer debating buying a home right now in Northern Nevada, don't wait for these statistics to continue to trend upward. It may just cost you the house of your dreams.
(Our data is from the NNRMLS, excluding all shared ownership or manufactured housing in Area 200.)
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - Realtor with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate and Northern Nevada Real Estate .
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Christianne Gordon, REALTOR®, CDPE, SFR, , PSC, e-PRO
Certified Distressed Property Expert - Short Sales & Foreclosure Resource - Pre-Foreclosure Certified
RE/MAX Realty Affiliates - Great Nevada Homes, Inc.
Direct: (775) 881-8223
Visit us online at GreatNevadaHomes.com or CarsonValleyShortsales.com
The information in Christianne Gordon's blog is deemed accurate but not guaranteed. Any individual considering a short sale should also seek independent tax and legal advice to get specific information as it relates to their personal situation. Christianne Gordon is a licensed real estate agent with RE/MAX Realty Affiliates serving the entire Northern Nevada region including Reno, Sparks, Carson City, Washoe Valley, North Valleys, Fernley, Dayton, Stagecoach, Minden, Genoa, Gardnerville, Smith Valley and Yerington.
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