Market Snapshot (SFRs and Condo/Townhomes)
Carson City’s real estate market in January 2026 presents a complex picture of slowing activity amidst ongoing price adjustments, with overall closed sales down 13.7% month-over-month and 10.2% year-over-year. While the median sale price saw a 7.3% month-over-month increase, this masks a more significant 6.5% year-over-year decline, indicating sellers are increasingly adjusting expectations as median days on market climbed to 79.
🏠 Single Family Residences
The Single Family Residence (SFR) market in Carson City continues to navigate a path towards rebalancing, characterized by declining sales volume and increasing time on market. January saw 40 SFR closed sales, a 9.1% drop from the previous month and a 4.8% decrease year-over-year, contributing to a total sales volume of $36,190,088. The median sale price for SFRs settled at $515,000, representing a 5.5% month-over-month decrease and a more substantial 10.8% decline compared to January of last year, suggesting a continued price correction in this segment.
Market timing metrics underscore this shift, with the median days on market holding at 79 and median days to contract at 42.5, both reflecting a 12.9% increase month-over-month and a 10.5% rise year-over-year. This indicates buyers are taking more time to make decisions, and properties are staying on the market longer before an offer is accepted. Inventory remains relatively tight with 96 active listings and 67 pending sales, leading to a Months of Supply (MoS) of 2.4. While this still points to a seller’s market, the MoS has seen a 21.2% increase year-over-year, signaling a gradual easing of competitive pressures.
Sellers are clearly responding to these market dynamics, as 55.0% of SFR sales involved a price reduction, with the median cut being 5.3% or $36,072. This high percentage of price adjustments, combined with a Sold/Original List Ratio of 96.2%, confirms that buyers hold more leverage than in recent booming periods. For SFR buyers, this translates to more options and a greater opportunity to negotiate on price, while sellers must be realistic with their initial pricing strategy and prepare for a longer sales cycle.
SFR Sales by Price Range
| Price Range | Sales | % of Total |
|---|---|---|
| Over $1M | 2 | 5.0% |
| $750K-$1M | 5 | 12.5% |
| $600K-$750K | 3 | 7.5% |
| $500K-$600K | 15 | 37.5% |
| $400K-$500K | 13 | 32.5% |
| $300K-$400K | 2 | 5.0% |
| Under $300K | 0 | 0.0% |
🏢 Condos & Townhomes
The Condos and Townhomes segment in Carson City paints a picture of heightened volatility and significantly slower activity compared to the SFR market. With only 4 closed sales in January, total sales volume reached $1,489,000, marking a sharp 42.9% decline both month-over-month and year-over-year. The median sale price, at $370,000, recorded a notable 28.3% month-over-month increase, but this is likely an anomaly due to the extremely low sales volume, as the year-over-year trend shows a substantial 17.4% decrease.
Market timing for condos and townhomes is considerably extended, with a median days on market of 144.5 and median days to contract at 111.0. These figures represent dramatic increases of 172.6% month-over-month and 57.1% year-over-year, indicating a much more challenging environment for sellers to secure a buyer quickly. Inventory levels are higher relative to demand, with 22 active listings and 14 pending, resulting in a Months of Supply of 5.5. This positions the condo/townhome market firmly in a balanced territory, nearing a buyer’s market, a stark contrast to the SFR segment’s tighter supply.
Price reductions are a dominant feature in this market, with 50.0% of sales involving a price cut. The median reduction was a significant 14.9% or $67,775, considerably higher than the adjustments seen in the SFR market. The Sold/Original List Ratio of 91.7% further underscores the need for sellers to make substantial concessions to close a deal. For condo/townhome buyers, this environment offers ample choice, extended negotiation power, and potentially significant discounts. Sellers in this segment face a more competitive landscape, requiring aggressive pricing and patience to attract offers, highlighting a clear divergence from the broader market trends affecting single-family homes.
Condo/Townhome Sales by Price Range
| Price Range | Sales | % of Total |
|---|---|---|
| Over $1M | 0 | 0% |
| $750K-$1M | 0 | 0% |
| $600K-$750K | 0 | 0% |
| $500K-$600K | 0 | 0% |
| $400K-$500K | 0 | 0% |
| $300K-$400K | 0 | 0% |
| Under $300K | 0 | 0% |
Financing Breakdown (All Properties)
| Loan Type | Sales | % of Total |
|---|---|---|
| Conventional | 19 | 43.2% |
| Cash | 14 | 31.8% |
| VA | 6 | 13.6% |
| FHA | 5 | 11.4% |
Sales by City
| City | Sales | Median Price |
|---|---|---|
| Carson City | 44 | $514,000 |
Market Outlook
Overall, the Carson City real estate market is navigating a period of adjustment, moving from a highly competitive seller’s market towards more balanced conditions, particularly for condos and townhomes. With an overall Months of Supply at 2.7, it technically remains a seller’s market, but the consistent increases in days on market, declining sales volumes, and prevalence of price reductions across both segments signal a cooling trend. Buyers are presented with increasing opportunities for negotiation and selection, while sellers must adopt a pragmatic approach to pricing and be prepared for longer marketing periods. The market is increasingly rewarding patience and strategic decision-making for all participants.