Carson City home prices, sales increase in July

The number of homes sold in Carson City went up in July, and the median sales price jumped above the $500,000 mark, according to data released by Sierra Nevada Realtors.

In July, Carson City saw 55 sales of existing single-family homes, an increase of 1.9 percent from the same month last year and also a 1.9 percent increase from June. The median sales price for an existing single-family residence was $510,000 in July, a decrease of 4.2 percent from the same month last year but a jump of 3.8 percent from June, which saw a median sales price of $491,471.

Approximately 65 new listings in the Carson City single-family market represent a 9.7 percent dip in new listings from the same time period last year but a 10.2 increase from June.

“We are seeing the market remain consistent from June to July, with market prices rising only slightly. That being said, the number of sales has increased in the last month, demonstrating the health of the market for buyers and sellers,” SNR co-President Sara Sharkey said in a news release.

Those in the market could be seeing some at least tentative signs of stability. Mortgage interest rates in the Silver State were around 7.5 percent as of Aug. 8, according to the U.S. Consumer Financial Protection Bureau. Rates have stayed consistent since July. Inflation held relatively steady in July as well, nationwide. According to the U.S. Bureau of Labor Statistics, the Consumer Price Index increased 3.2 percent for the 12 months ending in July, before seasonal adjustment. That is up slightly from a 3 percent rate in June.

Single-family wasn’t the only type of housing in the capital that saw a bounce. The existing condo/townhome median sales price in July was $320,000, an increase of 12.3 percent from both last year and last month. Seven closed sales of condos/townhomes for July means sales stayed flat from last year but rose by 40 percent since June.

In the release, SNR highlighted other regional data from July:

• Washoe County (excluding Incline Village)

Saw 509 new listings and 428 closed sales. The median sales price for an existing single-family residence was $574,475, a decrease of .1% from the previous month and down less than .1% from last year. The median sales price of an existing condo/townhome was $330,000, a decrease of 9.6 percent from last year.

• Lyon County

Had 34 sales of existing single-family homes, a decrease of 22.7 percent from the previous month and an increase of 17.2 percent from last year. The median sales price for an existing single-family residence was $424,495, a decrease of 10.1 percent from the previous month and a decrease of .1 percent from last year.

• Churchill County

Had 70 sales of existing single-family homes, a decrease of 7.9 percent from the previous month and an increase of 29.6 percent from last year. The median sales price for an existing single-family residence was $369,520, a decrease of 1.6 percent from the previous month and a decrease of 7.5 percent from last year.

• Storey County

Had 10 sales of existing single-family homes, an increase of 42.9 percent from the previous month and an increase of 100 percent from last year. The median sales price for an existing single-family residence was $487,500, a decrease of 11.2 percent from the previous year and a decrease of 4.4 percent from last month.

• Douglas County

Had 60 sales of existing single-family homes, a decrease of 15.5 percent from the previous month and an increase of 17.6 percent from last year. The median sales price for an existing single-family residence was $731,787, an increase of 18.8 percent from the previous month and an increase of .2 percent from last year.

For information, visit https://snr.realtor/.