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

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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One Response to June median sales price, units sold, DOM and inventory

  1. Random Residential Real Estate Investor says:

    Thanks as always for the valuable info Guy!

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