July median sold price, units, DOM, and $/sq.ft.

It may be a bit early to report July’s sales numbers (as a few sales may still need to be entered into our MLS), but I was eager to see if July’s units were going to exceed 500, as we saw in June. That doesn’t appear to be the case; however 457 units sold for the month of July is not too shabby.

At the moment it appears July’s median sold price of $180,000 held relatively stable compared to June’s $180,750. July’s average days on market fell; going from 137 in June to 127 in July, a 7.3% decrease.

The make-up of July sales is as follows:

  • Bank-owned properties – 46%
  • Short sales – 21%
  • Equity sales – 32%

For those readers who prefer the median sold price for houses and condos combined, July’s combined median sold price was $175,000; up from June’s combined median of $170,804.

Month Year

# Sold

Sold Price

Sold Price per SqFt

Average DOM

Jul 2009

457

$180,000

$103.90

126

Jun 2009

526

$180,750

$104.02

137

May 2009

422

$175,000

$102.38

139

Apr 2009

428

$189,950

$105.55

133

Mar 2009

367

$200,000

$105.94

133

Feb 2009

294

$204,000

$111.45

133

Jan 2009

232

$200,000

$113.15

119

 Dec 2008

294

$218,950

$121.74

145

Nov 2008

269

$220,000

$122.24

152

 Oct 2008

354

$230,000

$131.43

144

 Sep 2008

358

$239,250

$136.72

145

 Aug 2008

321

$250,000

$142.14

140

 Jul 2008

397

$251,000

$145.48

139

 Jun 2008

369

$262,500

$148.05

142

 May 2008

314

$260,215

$152.30

134

 Apr 2008

314

$275,000

$154.05

172

 Mar 2008

238

$274,000

$150.93

166

 Feb 2008

195

$289,000

$156.48

149

 Jan 2008

165

$285,000

$170.23

146

Dec 2007

228

$283,950

$167.22

143

Nov 2007

204

$299,750

$172.24

126

Oct 2007

241

$296,000

$173.55

116

Sep 2007

230

$299,945

$179.46

114

Aug 2007

311

$305,000

$182.49

118

Jul 2007

300

$315,000

$189.78

113

Jun 2007

329

$320,000

$196.78

104

May 2007

364

$313,200

$190.81

107

Apr 2007

320

$309,500

$193.93

121

Mar 2007

324

$315,000

$189.61

121

 Feb 2007

269

$315,000

$191.18

126

 Jan 2007

245

$312,900

$199.79

133

Dec 2006

291

$309,000

$193.51

114

Nov 2006

281

$318,000

$197.32

111

 Oct 2006

363

$312,400

$201.44

105

Sep 2006

344

$314,950

$198.08

98

Aug 2006

349

$325,000

$210.92

94

Jul 2006

373

$335,000

$210.62

93

Jun 2006

424

$339,000

$214.54

91

May 2006

374

$339,950

$219.05

99

Apr 2006

368

$334,600

$212.08

88

Mar 2006

387

$340,000

$215.54

99

 Feb 2006

283

$335,000

$217.29

101

 Jan 2006

274

$365,000

$216.38

98

Dec 2005

333

$355,000

$217.31

89

Nov 2005

385

$349,000

$220.00

81

Oct 2005

484

$359,450

$223.06

77

Sep 2005

531

$354,500

$219.26

77

Aug 2005

582

$360,500

$220.52

73

Jul 2005

608

$353,000

$218.99

71

Jun 2005

679

$350,000

$215.69

69

May 2005

644

$333,250

$209.95

68

Apr 2005

558

$326,750

$207.57

77

Mar 2005

584

$325,000

$200.17

81

 Feb 2005

342

$318,500

$197.54

88

 Jan 2005

341

$310,000

$195.19

85

Dec 2004

450

$312,500

$190.72

77

Nov 2004

448

$309,950

$191.62

63

Oct 2004

512

$299,250

$188.72

53

Sep 2004

496

$292,750

$185.78

61

Aug 2004

505

$285,000

$182.95

56

Jul 2004

544

$304,300

$179.28

61

Jun 2004

533

$285,000

$172.16

65

May 2004

476

$278,750

$169.64

65

Apr 2004

526

$259,950

$158.08

67

Mar 2004

508

$245,000

$142.56

71

 Feb 2004

365

$237,000

unavailable

81

 Jan 2004

379

$229,000

unavailable

78

Dec 2003

441

$240,000

unavailable

82

Nov 2003

444

$220,750

unavailable

78

Oct 2003

430

$219,880

unavailable

76

Sep 2003

587

$223,000

unavailable

71

Aug 2003

512

$220,000

unavailable

75

Jul 2003

533

$210,000

unavailable

77

Jun 2003

475

$207,000

unavailable

77

May 2003

450

$198,950

unavailable

85

Apr 2003

478

$197,750

unavailable

82

 Mar 2003

428

$192,000

unavailable

77

 Feb 2003

321

$186,895

unavailable

79

 Jan 2003

316

$186,000

unavailable

96

Dec 2002

379

$193,500

unavailable

93

Nov 2002

423

$190,000

unavailable

82

Oct 2002

483

$189,900

unavailable

83

Sep 2002

410

$174,000

unavailable

85

Aug 2002

459

$180,000

unavailable

74

Jul 2002

469

$176,000

unavailable

83

Jun 2002

445

$185,000

unavailable

80

May 2002

470

$178,450

unavailable

77

Apr 2002

360

$169,500

unavailable

93

 Mar 2002

377

$169,000

unavailable

84

 Feb 2002

323

$170,900

unavailable

89

 Jan 2002

268

$172,475

unavailable

99

Dec 2001

287

$182,000

unavailable

86

Nov 2001

323

$161,500

unavailable

85

Oct 2001

357

$166,500

unavailable

79

Sep 2001

355

$168,000

unavailable

81

Aug 2001

448

$160,350

unavailable

84

Jul 2001

433

$169,900

unavailable

90

Jun 2001

426

$166,225

unavailable

96

May 2001

404

$162,050

unavailable

97

Apr 2001

370

$158,750

unavailable

94

 Mar 2001

385

$159,900

unavailable

97

 Feb 2001

294

$159,950

unavailable

103

 Jan 2001

264

$165,000

unavailable

102

Dec 2000

272

$156,500

unavailable

100

Nov 2000

355

$154,500

unavailable

93

 Oct 2000

348

$153,000

unavailable

98

Sep 2000

356

$160,000

unavailable

104

Aug 2000

412

$163,375

unavailable

94

Jul 2000

368

$155,000

unavailable

110

Jun 2000

466

$165,845

unavailable

104

May 2000

363

$158,000

unavailable

105

Apr 2000

312

$155,000

unavailable

113

 Mar 2000

339

$162,700

unavailable

102

 Feb 2000

244

$149,620

unavailable

110

 Jan 2000

217

$156,000

unavailable

112

Dec 1999

264

$155,000

unavailable

118

Nov 1999

293

$149,900

unavailable

98

Oct 1999

289

$147,895

unavailable

108

Sep 1999

311

$157,000

unavailable

106

Aug 1999

360

$148,500

unavailable

112

Jul 1999

375

$147,800

unavailable

105

Jun 1999

372

$150,000

unavailable

103

May 1999

307

$145,500

unavailable

106

Apr 1999

324

$151,700

unavailable

111

Mar 1999

308

$151,000

unavailable

121

Feb 1999

249

$148,900

unavailable

120

Jan 1999

210

$143,000

unavailable

115

 Dec 1998

265

$140,000

unavailable

118

 Nov 1998

279

$153,000

unavailable

126

Oct 1998

286

$142,825

unavailable

115

Sep 1998

279

$144,500

unavailable

102

Aug 1998

331

$145,000

unavailable

113

Jul 1998

335

$150,000

unavailable

108

Jun 1998

351

$148,500

unavailable

103

May 1998

302

$145,500

unavailable

99

Apr 1998

235

$149,000

unavailable

111

 Mar 1998

267

$142,500

unavailable

114

Feb 1998

201

$139,900

unavailable

126

 Jan 1998

165

$149,490

unavailable

131

 

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 – August 2009.

 

3 comments

  1. Reno Ignoramus

    457 properties sold last month, of which 46% were REOs. Which means 210 REOs sold last month. There were 409 TDs recorded last month. In other words, the REO inventory grew last month by around 199 houses. (I say around because a few of the TDs did not go back to the bank, but only a few).

    This has now happened for two months in a row (maybe more, but I don’t have the numbers).This is not a good trend for those looking for a market bottom. A growing REo inventory does not signal a recovering market.

    And these numbers, of course, do not in any way account for the thousands of properties in some stage of foreclosure at the present time in Reno-Sparks.

  2. RRB Fan

    I 100% agree with RI … there has to be a lot of shadow inventory.

    If I could buy a nice house in SW, Old SW, or Somersett at $100/sq ft then I would. In SW and Old SW I cannot beleive how small and junky all the homes priced below $200K are.

  3. Reno Ignoramus

    RRB Fan:

    I appreciate your frustration and I also appreciate your talking about trying to buy around $100 sq. ft. Sometimes, IMHO, too much of the blog’s time is spent talking about $1 million properties when buying in at that price is something less than 1% of folks could ever even consider.

    Sometimes we can lose our perspective and forget where we used to be. Two years ago, there was NOTHING for sale in the old SW or SW for under $200K. NOTHING. So while what is available in that price range in those neighborhoods may not be all that attractive right now, the fact that there is anything at all is a testament to the slow moving collapse of the bubble.

    Try to be patient, RRB Fan. This bubble’s collapse is not over.

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