As is typical for this time of year January’s numbers pulled back from December’s rally. 357 houses sold in January at a median sales price of $252,000.
The 357 houses sold in January was down 31 percent from December’s 518 houses sold; however it is on par with the 354 houses sold in January 2014.
January’s median sales price of $252,000 was down 3.8 percent from December’s median; however is up 14.5 year-over-year.
January’s median sold price per square foot (ppsf) came in at $139.89/sq.ft. —a slight drop from the $140.22/sq.ft. seen in December.
January’s median days on market (DOM) was 84 days — adding a week to December’s median DOM of 77 days.
Available inventory continues its downward slide since peaking last year in August. Currently, only 706 houses are available for sale. Available inventory has not been this low since April 2013. The Reno-Sparks market currently has approximately a 2-month supply of inventory.
On the bright side January’s pending sales jumped up more than 18 percent over December’s pendings. The holidays are behind us; the weather is warm; and the Spring homebuyers started early this year. We just need more inventory for them.
January sales by type break out as follows:
- REO sales: 6% – up from December’s 5%
- Short sales: 10% – up from December’s 8%
- Equity sales: 81% – down from December’s 85%
January sales by price band break out as follows in the table below…
| sales price ($000’s) | units sold | cumulative % of sales |
| 0 – 99 | 6 | 1.7% |
| 100 – 199 | 74 | 22.4% |
| 200 – 299 | 151 | 64.7% |
| 300 – 399 | 76 | 86.0% |
| 400 – 499 | 20 | 91.6% |
| 500 – 599 | 10 | 94.4% |
| 600 – 699 | 3 | 95.2% |
| 700 – 799 | 5 | 96.6% |
| 800 – 899 | 2 | 97.2% |
| 900 – 999 | 2 | 97.8% |
| 1M+ | 8 | 100% |
| total | 357 |
January’s median sold price for houses and condos combined was $242,500 — a 2.4 percent decrease over December’s median sold price of $248,500 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 |
| Jan 2015 | 357 | $252,000 | $139.89 | 84 | 706 | 933 |
| Dec 2014 | 518 | $261,995 | $140.22 | 77 | 806 | 789 |
| Nov 2014 | 470 | $260,000 | $138.36 | 70 | 940 | 977 |
| Oct 2014 | 489 | $260,000 | $139.77 | 73 | 1,083 | 1,075 |
| Sep 2014 | 504 | $239,000 | $136.68 | 70 | 1,325 | 999 |
| Aug 2014 | 576 | $250,000 | $138.38 | 60 | 1,390 | 1,015 |
| Jul 2014 | 530 | $249,950 | $140.26 | 61 | 1,365 | 1,117 |
| Jun 2014 | 564 | $250,000 | $135.97 | 61 | 1,234 | 1,098 |
| May 2014 | 546 | $240,000 | $134.60 | 65 | 1,076 | 1,190 |
| Apr 2014 | 535 | $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 | 354 | $220,000 | $125.31 | 87 | 817 | 1,084 |
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 – February 2015. Note: This information is deemed reliable, but not guaranteed.
Click here for historical data back to 1998.
Related post: December median sales price, units sold, DOM and inventory
