April median sales price, units sold, DOM and inventory

Share this:

April’s sales metrics were all up compared to March’s numbers.

April’s median sales price of $208,000 represents:

  • a 6.7 percent month-over-month increase from March’s $195,000
  • a 37.7 percent year-over-year increase over April 2012’s median of $151,100
  • a four-year high; the median sales price for the Reno-Sparks market has not been this high since February 2009.

The median sold price per square foot (ppsf) continues to skyrocket. April’s median sold ppsf of $112.42/sf increased 3.3 percent month-over-month.

463 houses sold in April representing a 3.5 percent decrease in month-over-month number of sales. April’s number of sales is down 12 percent from a year ago.

Median days on market (DOM) dropped to 79 days – from 92 days in March. That represents nearly two weeks shorter time on market.

Inventory remains in short supply. With only 579 available houses the market currently has only a five-week supply of inventory. Despite the low inventory, the number of active available listings has been trending upward since January.

April sales by type break out as follows:

  • REO sales: 8% – down from March’s 9%
  • Short sales: 33% – up slightly from March’s 32%
  • Equity sales: 59% – up slightly from March’s 58%

“Equity” sales now consistently account for more than half of monthly sales.

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

sales price ($000’s) units sold cumulative %
0 – 99 27 5.8%
100 – 199 187 46.2%
200 – 299 136 75.6%
300 – 399 55 87.5%
400 – 499 16 90.9%
500 – 599 16 94.5%
600 – 699 12 97.0%
700 – 799 7 98.5%
800 – 899 0 98.5%
900 – 999 1 98.7%
1M+ 6 100%
total 463

For those readers who prefer the median sold price for houses and condos combined, April’s 541 sold houses, condos and town homes exhibited a combined median sold price of $188,000 – Up 7.4 percent from March’s median sold price of $175,000 for 557 combined sales.

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
Apr 2013 463 $208,000 $112.42 79 579 1,519
Mar 2013 487 $195,000 $108.79 92 502 1,479
Feb 2013 419 $190,200 $105.03 104 474 1,485
Jan 2013 360 $181,300 $102.48 114 465 1,462
Dec 2012 492 $186,500 $102.42 107 539 1,421
Nov 2012 524 $181,000 $99.61 105 640 1,646
Oct 2012 537 $180,000 $97.79 102 728 1,772
Sep 2012 473 $175,000 $98.41 92 836 1,811
Aug 2012 536 $175,500 $98.52 86 882 1,846
July 2012 514 $165,000 $94.59 88 832 1,873
Jun 2012 515 $170,000 $91.43 92 759 1,891
May 2012 524 $164,750 $90.56 99 783 1,873
Apr 2012 526 $151,100 $87.04 95 785 1,885

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 – May 2013. Note: This information is deemed reliable, but not guaranteed.

Click here for historical data back to 1998.

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

About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
This entry was posted in Agent Insights, Market Trends and tagged , , , . Bookmark the permalink.

2 Responses to April median sales price, units sold, DOM and inventory

  1. Pingback: Additional inventory in the pipeline | Reno Real Estate Blog

  2. Pingback: May median sales price, units sold, DOM and inventory | Reno Real Estate Blog

Leave a Reply

Your email address will not be published. Required fields are marked *