2019 Housing Market Recap and 2020 Outlook
The temperatures may be dropping outside—but for house hunters, things are just about to start heating up.
First, let’s look at the numbers for Carson City in 2019:
How did the housing market do in 2019?
In Carson City for 2019, the number of houses sold was 836. This included 670 Stick Built homes, 112 Condo and Townhomes, and 54 manufactured homes. The median price overall was $327,250 which is a 10% increase over 2018's median price of $295,000. The lowest price home to sell in 2019 was a 3 bed 2 bath home for $75,000. The most expensive home to sell in Carson City was a 5 bedroom 3 bath home at $1,300,000. Overall the housing market was steady and leaned towards a seller's market.
So what does this mean for the housing market now?
A recent analysis from realtor.com found that while most people believe spring to be the hottest season for homebuyers, house hunters are starting their search earlier in the year—and January has become one of the most active times of the year for potential buyers on the market for a new home.
20 out of the 100 largest metros in the US saw their highest number of listing views online in January 2019 (based on average monthly views per listing on realtor.com 2015 to 2019)—compared to just three in 2018. And according to the realtor.com team, this trend is poised to continue in January 2020.
“As shoppers modify their strategies for navigating a housing market that has become more competitive due to rising prices and low inventory, the search for a home is beginning earlier and earlier,” said realtor.com® Senior Economist George Ratiu in the analysis’ press release. “With housing inventory across the U.S. expected to reach record lows in 2020, we expect to see this trend continue into the new year.”
The Takeaway:
So, what does this mean for you? If you’re thinking about buying a home in 2020, don’t wait until spring to start your search—because as it turns out, January is the perfect season for house hunting! And, if you’re thinking about selling, it’s not a bad idea to get your house on the market before the actual Spring market. For more information and a FREE Guide to selling your home, please call 775-400-6650 or email me at krisha@nvhomedreams.com