Carson City Nevada Real Estate Market Report - October 2009 Home Sales Results

44 homes sold in Carson City in October 2009, a 43% volume increase year over year when only 28 homes sold in October 2008.

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

• 44 homes sold
  
• Average asking price is $211,504
• Average selling price is $209,243
• Average days on market was 144

So what is the absorption rate for Carson City?

• There are 274 homes on the market as of 11/13/09
• 44 homes sold in October
  
• 274/44 = 6.23 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 274 homes on the market, 45 are bank owned, 50 are short sales and 4 are subject to court approval. That means that 36% of the Carson City real market is distressed.

(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.)