Carson City saw a bit of a derease in the number of homes sold in June compared to May. In June, 33 homes sold compared to 40 in May. However, when you compare June 2008 to June 2009, year over year volume is up. In June 2008 only 27 homes sold. Some pundits think that year over year is a better comparison that month over month because it compares a similar time of year.
A whopping 88% of the homes (or 26 homes) that sold in June went for less than $200,000, demonstrating that home affordability is back in our state's Capitol. To further demonstrate the changing dynamic of prices in Carson City, there was not a single sale over $500,000, only one over $400,000, and three between $300,000 and $400,000. There were also three sales between $200,000 and $300,000. It's clear that buyers simply are not interested in buying in Carson City when the price goes above $200,000.
Today there are 283 homes for sale in the Carson City area. Of the 283 homes available for sale, 21 are bank owned and 35 are short sale. That means 56 - or 19.8% - of the market is distressed.
How is the absorption rate looking for Carson City? Let's take a look...
- Carson City currently has 283 homes on the market.
- In June, 33 homes sold
- 283 / 33 = 8.57 months
June marked a slip just outside the 'normal' range when considering the absorption rate. A normal market is defined as 5-7 months of inventory available for sale, determined by the absorption rate. The Carson City real estate market continues to struggle to determine it's price floor and a steady sales volume.
(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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