Pendings Watch

Pending status homes in the last 24 hours = 486 at an average $414K and a median $325K. Current number of single family homes offered for sale = 4003. Compare this to Apr 20’s random pendings check at 500 for an average $420K and a median $329K with 3501homes offered for sale and Mar 11’s random pendings check at 459 for an average $399K with 3064 homes offered for sale at the time. So in this moment, if these pendings close, we have an eight month supply of homes in our market, up from seven. My goodness, the inventory just keeps on coming.

These figures were pulled from the Northern Nevada MLS and do not include builder direct sales, for sale by owners or other private transfers. These are single family homes including condos, stick built and manufactured homes pulled from Area 100, the Reno-Sparks metro area. Active listings include actives, new, back on market, price raised and priced reduced. Pending classifications include pending no show, active pending call, active pending loan and active pending house. Pendings were pulled looking at a 24 hour period of time to provide a market snapshot of recent activity.