For all you data junkies out there the 2008 Annual Existing Home Sales Statistics for Reno, Sparks and Rural Northern Nevada is now available. 45 pages of data broken out by city, county and MLS area. Enjoy.
Some takeaways:
2008 Median sales price:
- Dropped 19% for single family/stick built homes
- Dropped 20% for manufactured/modular
- Dropped 20% for condos/townhouses
- Average # of active listings dropped 5%
- Average days on market increase 11%
Steve
So YUCK. If we take the median drop from 7/05 of 43%, until Jan that is right about 1% a month.
HOWEVER looky here we had an 18% drop yoy for 2008 or 1.5% a month!
OUCH the Lokeymotive is picking up steam.
I hope that some of the details that lil’ Timmy Geithner said will be released in a couple of weeks include vigorous principal reductions cause the Lokeymotive ain’t gonna slow down other wise.