November median sales price and other market metrics

November’s median home sales price was $377,250. This number was down 2.0 percent from October’s median sales price of $385,000. Year-over-year, November’s median sales price is up 6.7 percent.

November’s median sold price per square foot (PPSF) also fell — coming in at $211.65/sq.ft., down 1.1 percent from October’s median sold PPSF of $214.10/sq.ft. November’s median sold PPSF is up 8.7 percent year-over-year.

Units sales in November totaled 456 homes sold for the month — down 2.4 percent from October’s 467 units sold. Year-over-year, home sales are down 14.6 percent from the 534 homes sold in November 2017.

Regarding inventory, presently 1,237 homes are available for purchase in the Reno-Sparks market. Given the current rate of home sales, available inventory equates to about a 2.7 month supply. Currently, available inventory is down 4.8 percent from the 1,300 homes for sales this time last month. Year-over-year, the current number of available homes for purchase is up a whopping 61.3 percent.

However, despite the gains in the number of homes available for purchase only 34.5 percent are priced at, or below, the current median sales price.

Pending sales fell in November. Presently, 634 homes are pending sale in the Reno-Sparks market. That number is down 11.6 percent from the 717 homes pending sale this time last month. Year-over-year, current pending sales are down 11.1 percent from November 2017.

November’s median days on market (DOM) came in at 71 days — an increase of six days over October’s DOM. November’s DOM is up 14.5 percent year-over-year.

November sales by type, break out as follows:

  • REO sales: <1% – down from October’s 1%
  • Short sales: <1% – unchanged from October’s <1%
  • Subject to Court Approval sales: 1% – down from October’s 2%
  • Relocation sales: <1% – unchanged from October’s <1%
  • Equity sales: 97% – up from October’s 96%

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

Sales by Price Segment
sales price ($000’s) units sold cumulative % of sales
0 – 99 1 0.2%
100 – 199 7 1.8%
200 – 299 82 19.7%
300 – 399 161 55.0%
400 – 499 103 77.6%
500 – 599 50 88.6%
600 – 699 21 93.2%
700 – 799 9 95.2%
800 – 899 5 96.3%
900 – 999 5 97.4%
1M+ 12 100%
total 456

November’s median sold price for houses and condos combined was $355,000 — unchanged from October’s median sold price for combined sales of houses and condos.

The table below contains the past 13 months of data[1]

Past 13 Months of Home Sales Data
Month Year # Sold Median Sold Price Sold Price per Sq Ft Median DOM # of Actives # of Pendings
Nov 2018 456 $377,250 $211.65 71 1,237 634
Oct 2018 467 $385,000 $214.10 65 1,300 717
Sep 2018 458 $372,777 $210.92 60 1,333 725
Aug 2018 569 $370,000 $211.79 57 1,208 790
Jul 2018 566 $387,000 $216.32 53 1,154 838
Jun 2018 601 $381,900 $215.98 49 923 906
May 2018 574 $375,000 $209.04 49 725 920
Apr 2018 491 $374,000 $205.34 51 638 891
Mar 2018 548 $375,000 $200.88 50 529 814
Feb 2018 444 $370,000 $193.90 61 528 796
Jan 2018 406 $359,950 $191.74 68 514 782
Dec 2017 493 $345,000 $194.35 69 605 578
Nov 2017 534 $353,500 $197.03 62 767 713

Thank you for taking the time to read this market report. As always, your comments and questions are welcomed.


1. 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 – December 6, 2018. For historical home sale data back to 1998 click here. Note: This information is deemed reliable, but not guaranteed.

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.

4 Responses to November median sales price and other market metrics

  1. Guy Johnson says:

    Thank you for sharing the link Goin2NV.

  2. Timothy Scott Weber says:

    Any info for Fernley this month, Guy?

  3. Guy Johnson says:

    Hello Tim,

    I’ll be posting the Reno/Sparks’ Association of REALTORS® Fernley Market Report as soon as they publish it (…likely sometime next week). In the meantime here is an infographic for Fernley’s November numbers…

    RSAR Quicksheet - November 2018 - Fernley, Nevada

Leave a Reply