The Carson City real estate market continues to be volatile, fluctuating from month to month. Each statistic we track – number of homes sold, median sales price, average per square foot price – is not on any easily visible and steady trend upward, downward. Here is the chart showing the sales history for Carson City for the last 14 months. (Data provided as per the Multiple Listing Service and excludes and manufactured or shared ownership housing.)

So – What does this chart mean? Well, if we take a closer look at the median sales price column, you’ll see that although there have been some dips from month to month, it looks as though overall, the median sales price for Carson City real estate is holding steady. We won’t know for sure for several more months, but it appears that Carson City hit it’s low in April 2008, when the median sales price was $235,000.

What homes are selling and in what price ranges? Here is the breakdown for August:

61% of the Carson City homes sold in August sold for under $299,000. When will prices start to trend back up? In order for prices to stabilize, the market needs to absorb the distressed properties, which are deflating prices. The distressed properties are the bank-owned foreclosures (REO’s) and short sales. Next post, we’ll answer the question: Just how many REO’s and short sales are there in Carson City?