This week’s real estate headlines

national real estate headlines - 2014Here are a few national real estate-related stories that came across my screen this week…

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June median sales price, units sold, DOM and inventory

June 2014 medianThe median sales price for the Reno and Sparks, Nevada housing market continues to climb. June’s median sales price rose to $250,000, hitting another new high for the year. In fact, June’s median sales price is the highest median for the Reno-Sparks’ market in over five years. June’s median sales price represents a 4.2 percent one-month increase over May’s median of $240,000. Year-over-year, June’s median sales price is up 11 percent.

The Summer home buying season is in full swing. 550 houses sold in June 2014 — up 1.5 percent from the 542 sold in May, and up 3.6 percent from the 531 houses sold in June of last year.

June’s median sold price per square foot (ppsf) came in at $135.90/sq.ft. — an increase of 1.6 percent over May’s median sold ppsf of $133.75.

June’s median days on market (DOM) dropped to 61 days — a decrease of five days from the May’s median 66 DOM.

Available inventory continues to climb, but remains at a “Seller’s market” level at the lower price points. Currently, 1,234 houses are available for sale — a 14.7 percent increase from the 1,076 houses available for sale this time last month. Year-over-year, June’s inventory is up 43.7 percent.

June sales by type break out as follows:

  • REO sales: 7% – up slightly from May’s 6%
  • Short sales: 10% – down slightly from May’s 11%
  • Equity sales: 82% – unchanged from May’s 82%

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

sales price ($000′s) units sold cumulative %
0 – 99 11 2.0%
100 – 199 161 31.3%
200 – 299 199 67.5%
300 – 399 105 86.5%
400 – 499 33 92.5%
500 – 599 19 96.0%
600 – 699 11 98.0%
700 – 799 4 98.7%
800 – 899 0 98.7%
900 – 999 1 98.9%
1M+ 6 100%
total 550

Six $1M+ homes sold in June. With 31 $1M+ sales year-to-date 2014 is continuing 2013’s increasing trend of million-dollar home sales – See Million dollar (and above) home sales double in 2013

June’s median sold price for houses and condos combined was $235,000–- a 4.4 percent increase over May’s median sold price of $225,000 for combined sales of houses and condos.

The table below contains the past 13 months of data…

Month Year # Sold Median Sold Price Sold Price per Sq Ft Median DOM # of Actives # of Pendings
June 2014 550 $250,000 $135.90 61 1,234 1,098
May 2014 542 $240,000 $133.75 66 1,076 1,190
Apr 2014 534 $230,000 $130.37 65 945 1,198
Mar 2014 482 $227,499 $129.72 64 837 1,249
Feb 2014 388 $233,500 $126.42 90 864 1,169
Jan 2014 353 $220,000 $125.32 87 817 1,084
Dec 2013 492 $231,000 $120.80 76 828 953
Nov 2013 475 $224,900 $126.51 71 974 1,171
Oct 2013 537 $214,750 $125.45 63 1,052 1,224
Sep 2013 513 $224,900 $126.53 70 1,019 1,305
Aug 2013 638 $220,000 $124.56 62 1,028 1,361
Jul 2013 593 $215,000 $123.25 64 920 1,455
Jun 2013 531 $225,000 $123.57 59 859 1,527

Note: 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 – July 2014. Note: This information is deemed reliable, but not guaranteed.

Click here for historical data back to 1998.

Related post: May median sales price, units sold, DOM and inventory

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Reno in the New York Times

In case you missed it, Reno, Nevada and its economy was featured in the New York Times. Take a couple of minutes to read this positive piece from the NYT: Reno Rolls the Dice on High-Tech

From the story:

Reno exemplifies how cities not far from California, including Boise, Idaho, and Tucson, are trying to poach the state’s technology culture to help diversify their economies, marketing themselves as places where taxes are lower and environmental regulations are less onerous.

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Happy Fourth of July

firework-2

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This week’s real estate headlines

national real estate headlines - 2014Here are a few national real estate-related stories that came across my screen this week…

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Artown is here

Artown 2014It’s that time of year again — Artown is back for the next 32 days.

What is Artown? Artown is Reno, Nevada’s month-long summer arts festival featuring nearly 500 events produced by more than 100 organizations and businesses in nearly 100 locations Reno-wide. And best of all, most of the events are free.

To see a day-by-day schedule of Artown events and performances check out the Reno News and Review’s Daily Dose of Artown. Or check out Reno Is Artown for more info.

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This week’s real estate headlines

national real estate headlines - 2014Here are a few national real estate-related stories that came across my screen this week…

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Washoe County foreclosure-related recordings – May 2014

Below please find Washoe County, Nevada Notices of Default (NODs), Notices of Sale (NOSs), Trustees Deed Filings (TDs) and New SFR REO Listings statistics for May 2014 provided to us by our friends at Ticor Title of Nevada, Inc. [Click on the chart below to enlarge.]

Ticor Title MAY 2014 Foreclosure Statistics

Ticor Title’s commentary accompanying these foreclosure statistics…

Notices of Defaults (NOD) decreased significantly from 93 in April to 65 recordings in May. Notices of Sale and Trustees Deed recordings followed suit and significantly dropped in May. There is no determination of why the decrease, if anything it has been predicted that these numbers would increase as the banks have sorted out the requirements of AB300 and SB321. One reason for the decrease is with the Nevada Law SB321 in place, homeowners facing foreclosure are opting for Loan Modifications instead of Short Sale or Deed in Lieu. The future of Foreclosure Recordings is unpredictable.

related post: Washoe County foreclosure-related recordings – April 2014

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