This week’s real estate headlines

Here are a few national real estate-related stories and news pieces that came across my screen this week…

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RSAR Monthly Market Report for Fernley, Nevada – November 2018

The Reno/Sparks Association of REALTORS® (RSAR) has released its Fernley Market Report for November 2018.

From November’s report…

“The trend in rising median price is slowing which can be attributable to the winter season and an increase in interest rates as the Federal Reserve adjusts for inflation,” said Doug McIntyre, 2018 RSAR President. “All indicators point to a correction in the market as opposed to a real estate bubble.”

  • The median price at $265,000 is up 3% from October and up 8% from November 2017.
  • Fernley’s unit sales at 43 are down 7% from October and down 4% from November 2017.
  • November new listings at 30 are down 48% from October and down 47% from November 2017.
  • The Fernley market has 2.6 months supply of inventory, a seller’s market.

Click on the graph below to see the entire RSAR market report for November.

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RSAR Monthly Market Report for Reno-Sparks, Nevada – November 2018

The Reno/Sparks Association of REALTORS® (RSAR) has released its Reno-Sparks Market Report for November 2018.

From November’s report…

“The trend in rising median price is slowing which can be attributable to the winter season and the increase in interest rates as the Federal Reserve adjusts for inflation,” said Doug McIntyre, 2018 RSAR President. “All indicators point to a correction in the market as opposed to a real estate bubble.”

  • The November median price at $377,000 is down 2% from October and up 7% from a year ago.
  • November unit sales at 444 are down 5% from October and down 17% compared to November 2017.
  • November new listings are down 17% at 469 compared to October and up 20% from one year ago.
  • The Reno market is a seller’s market, at 3 months supply of inventory. Months supply of inventory is the time it would take to exhaust the active inventory at the current rate of sales.

Click on the graph below to see the entire RSAR market report for November…

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A few of my recent Facebook posts…

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In addition to posting on this blog, I also maintain a Facebook Page where I post daily content on the Reno, Sparks, Incline Village and northern Nevada real estate market and economy.

Below are a few recent posts from my Facebook Page.

To see my Facebook posts in real time as I post them please Like my FB Page

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Reno-Sparks and Las Vegas housing market comparison

The Greater Las Vegas Association of REALTORS® has released its housing market report for November. I thought it would be interesting to compare the Las Vegas, Nevada housing market numbers to those of Reno-Sparks, Nevada.

Let’s take a look…

Las Vegas and Reno-Sparks Housing Markets (November 2018)
Las Vegas, Nev. Reno-Sparks, Nev.
November median sold price $295,000 $377,000
October median sold price $295,025 $385,000
Month-over-month change down 0.01% down 2.0%
November 2017 median sold price $261,150 $353,500
Year-over-year change up 13.0% up 6.6%
November units sold 2,292 458
Month-over-month change down 14.7% down 1.9%
Year-over-year change down 11.6% down 14.2%
Available inventory 7,003 1,273
Month-over-month change up 1.2% down 4.8%
Year-over-year change up 54.3% up 61.3%

On a year-over-year basis, both markets are very similar — unit sales are down; inventory is up substantially; and home sale prices are up.

Your thoughts?


Note: Data in the table above pertains to existing site/stick built, single-family properties only. Data excludes condo/townhouse, manufactured/modular and shared ownership properties.
Reno-Sparks numbers sourced from the Northern Nevada Regional MLS.
Las Vegas numbers compiled from:

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This week’s real estate headlines

Here are a few national real estate-related stories and news pieces that came across my screen this week…

Posted in headlines, News | Tagged , | Leave a comment

Considering relocating to Reno, Nevada?


Are you considering relocating to Reno, Nevada? Or, are you simply new to the area? If so, the WhyReno.org website is a great resource to learn more about our beautiful area and amenities.

The WhyReno website has information on:

Check out WhyReno’s featured video below…

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November median sales price and other market metrics

November’s median home sales price was $377,250. This number was down 2.0 percent from October’s median sales price of $385,000. Year-over-year, November’s median sales price is up 6.7 percent.

November’s median sold price per square foot (PPSF) also fell — coming in at $211.65/sq.ft., down 1.1 percent from October’s median sold PPSF of $214.10/sq.ft. November’s median sold PPSF is up 8.7 percent year-over-year.

Units sales in November totaled 456 homes sold for the month — down 2.4 percent from October’s 467 units sold. Year-over-year, home sales are down 14.6 percent from the 534 homes sold in November 2017.

Regarding inventory, presently 1,237 homes are available for purchase in the Reno-Sparks market. Given the current rate of home sales, available inventory equates to about a 2.7 month supply. Currently, available inventory is down 4.8 percent from the 1,300 homes for sales this time last month. Year-over-year, the current number of available homes for purchase is up a whopping 61.3 percent.

However, despite the gains in the number of homes available for purchase only 34.5 percent are priced at, or below, the current median sales price.

Pending sales fell in November. Presently, 634 homes are pending sale in the Reno-Sparks market. That number is down 11.6 percent from the 717 homes pending sale this time last month. Year-over-year, current pending sales are down 11.1 percent from November 2017.

November’s median days on market (DOM) came in at 71 days — an increase of six days over October’s DOM. November’s DOM is up 14.5 percent year-over-year.

November sales by type, break out as follows:

  • REO sales: <1% – down from October’s 1%
  • Short sales: <1% – unchanged from October’s <1%
  • Subject to Court Approval sales: 1% – down from October’s 2%
  • Relocation sales: <1% – unchanged from October’s <1%
  • Equity sales: 97% – up from October’s 96%

November sales by price band, break out as follows in the table below…

Sales by Price Segment
sales price ($000’s) units sold cumulative % of sales
0 – 99 1 0.2%
100 – 199 7 1.8%
200 – 299 82 19.7%
300 – 399 161 55.0%
400 – 499 103 77.6%
500 – 599 50 88.6%
600 – 699 21 93.2%
700 – 799 9 95.2%
800 – 899 5 96.3%
900 – 999 5 97.4%
1M+ 12 100%
total 456

November’s median sold price for houses and condos combined was $355,000 — unchanged from October’s median sold price for combined sales of houses and condos.

The table below contains the past 13 months of data[1]

Past 13 Months of Home Sales Data
Month Year # Sold Median Sold Price Sold Price per Sq Ft Median DOM # of Actives # of Pendings
Nov 2018 456 $377,250 $211.65 71 1,237 634
Oct 2018 467 $385,000 $214.10 65 1,300 717
Sep 2018 458 $372,777 $210.92 60 1,333 725
Aug 2018 569 $370,000 $211.79 57 1,208 790
Jul 2018 566 $387,000 $216.32 53 1,154 838
Jun 2018 601 $381,900 $215.98 49 923 906
May 2018 574 $375,000 $209.04 49 725 920
Apr 2018 491 $374,000 $205.34 51 638 891
Mar 2018 548 $375,000 $200.88 50 529 814
Feb 2018 444 $370,000 $193.90 61 528 796
Jan 2018 406 $359,950 $191.74 68 514 782
Dec 2017 493 $345,000 $194.35 69 605 578
Nov 2017 534 $353,500 $197.03 62 767 713

Thank you for taking the time to read this market report. As always, your comments and questions are welcomed.


1. The medians table above is updated on a monthly basis. The median home price data reported covers the cities of Reno, Nevada and Sparks, Nevada [NNRMLS Area #100]. Residential data includes Site/Stick Built properties only. Data excludes Condo/Townhouse, Manufactured/Modular and Shared Ownership properties. Data courtesy of the Northern Nevada Regional MLS – December 6, 2018. For historical home sale data back to 1998 click here. Note: This information is deemed reliable, but not guaranteed.

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