April median sales price, units sold, DOM and inventory

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April 2104 median home price chartApril’s median sales price increased to $230,000 — a 0.9 percent rise over March’s $227,999 median. Year-over-year, April’s median sales price is up 12.2 percent.

The Spring home buying season is upon us and sales continue to climb. 514 houses sold in April 2014, representing a 7.3 percent month-over-month increase from the 479 houses sold in March. April’s units sold were up 6.4 percent year-over-year.

April’s median sold price per square foot (ppsf) came in at $130.62/sq.ft. — an increase of 0.7 percent over March’s median sold ppsf of $129.72.

Days on market (DOM) is relatively unchanged and remains low. April’s median DOM was 65 days — an increase of one day from the March’s median 64 DOM.

Available inventory jumped in April, but still remains at less than a two-months supply. Currently, 945 houses are available for sale — a 12.9 percent increase from the 837 houses available for sale this time last month. Year-over-year, April’s inventory is up 95.7 percent.

April sales by type break out as follows:

  • REO sales: 6% – down from March’s 7%
  • Short sales: 15% – up from March’s 14%
  • Equity sales: 78% – up from March’s 77%

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

sales price ($000’s) units sold cumulative %
0 – 99 14 2.7%
100 – 199 182 38.1%
200 – 299 176 72.2%
300 – 399 69 85.6%
400 – 499 38 93.0%
500 – 599 7 94.4%
600 – 699 9 96.1%
700 – 799 8 97.7%
800 – 899 5 98.6%
900 – 999 1 98.8%
1M+ 6 100%
total 515

Six $1M+ homes sold in April. With 19 $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

April’s median sold price for houses and condos combined was $218,000 –- a 1.4 percent increase over March’s median sold price of $215,000 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
Apr 2014 514 $230,000 $130.62 65 945 1,198
Mar 2014 479 $227,999 $129.72 64 837 1,249
Feb 2014 387 $235,000 $126.43 91 864 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 532 $224,950 $123.60 59 859 1,527
May 2013 538 $218,500 $119.14 64 756 1,563
Apr 2013 483 $205,000 $112.53 77 579 1,519

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 2014. 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.
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