Carson City Nevada Real Estate Market Report – August and September 2009 Home Sales Results

35 homes sold in Carson City in August 2009 and , a 36% volume increase year over year when 42 homes sold in July 2008.

What were the key indicators for the August Carson City real estate market?

• 35 homes sold
• Average asking price is $206,399
• Average selling price is $200,551
• Average days on market was 94

And here are the stats for Carson City homes sold for September:

• 41 homes sold
• Average asking price is $260,239
• Average selling price is $248,140
• Average days on market was 126

So what is the absorption rate for Carson City?

• There are 268 homes on the market as of 10/07/09
• 41 homes sold in July
• 268/41 = 6.54 months of inventory

The absorption rate for the Carson City continues to be strong and is within 5-7 months considered a normal supply. This is a huge turnaround from the 15+ months of inventory we had on the market in February.

Of the 268 homes on the market, 26 are bank owned and 46 are short sales. That means that 26.8% of the Carson City real market is distressed. This percentage has held steady and is within just a few percentage points of February when it was 27.7%.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 200, known as Carson City.)