It may be a bit early to report July’s sales numbers (as a few sales may still need to be entered into our MLS), but I was eager to see if July’s units were going to exceed 500, as we saw in June. That doesn’t appear to be the case; however 457 units sold for the month of July is not too shabby.
At the moment it appears July’s median sold price of $180,000 held relatively stable compared to June’s $180,750. July’s average days on market fell; going from 137 in June to 127 in July, a 7.3% decrease.
The make-up of July sales is as follows:
- Bank-owned properties – 46%
- Short sales – 21%
- Equity sales – 32%
For those readers who prefer the median sold price for houses and condos combined, July’s combined median sold price was $175,000; up from June’s combined median of $170,804.
|
Month Year |
# Sold |
Sold Price |
Sold Price per SqFt |
Average DOM |
|
Jul 2009 |
457 |
$180,000 |
$103.90 |
126 |
|
Jun 2009 |
526 |
$180,750 |
$104.02 |
137 |
|
May 2009 |
422 |
$175,000 |
$102.38 |
139 |
|
Apr 2009 |
428 |
$189,950 |
$105.55 |
133 |
|
Mar 2009 |
367 |
$200,000 |
$105.94 |
133 |
|
Feb 2009 |
294 |
$204,000 |
$111.45 |
133 |
|
Jan 2009 |
232 |
$200,000 |
$113.15 |
119 |
|
Dec 2008 |
294 |
$218,950 |
$121.74 |
145 |
|
Nov 2008 |
269 |
$220,000 |
$122.24 |
152 |
|
Oct 2008 |
354 |
$230,000 |
$131.43 |
144 |
|
Sep 2008 |
358 |
$239,250 |
$136.72 |
145 |
|
Aug 2008 |
321 |
$250,000 |
$142.14 |
140 |
|
Jul 2008 |
397 |
$251,000 |
$145.48 |
139 |
|
Jun 2008 |
369 |
$262,500 |
$148.05 |
142 |
|
May 2008 |
314 |
$260,215 |
$152.30 |
134 |
|
Apr 2008 |
314 |
$275,000 |
$154.05 |
172 |
|
Mar 2008 |
238 |
$274,000 |
$150.93 |
166 |
|
Feb 2008 |
195 |
$289,000 |
$156.48 |
149 |
|
Jan 2008 |
165 |
$285,000 |
$170.23 |
146 |
|
Dec 2007 |
228 |
$283,950 |
$167.22 |
143 |
|
Nov 2007 |
204 |
$299,750 |
$172.24 |
126 |
|
Oct 2007 |
241 |
$296,000 |
$173.55 |
116 |
|
Sep 2007 |
230 |
$299,945 |
$179.46 |
114 |
|
Aug 2007 |
311 |
$305,000 |
$182.49 |
118 |
|
Jul 2007 |
300 |
$315,000 |
$189.78 |
113 |
|
Jun 2007 |
329 |
$320,000 |
$196.78 |
104 |
|
May 2007 |
364 |
$313,200 |
$190.81 |
107 |
|
Apr 2007 |
320 |
$309,500 |
$193.93 |
121 |
|
Mar 2007 |
324 |
$315,000 |
$189.61 |
121 |
|
Feb 2007 |
269 |
$315,000 |
$191.18 |
126 |
|
Jan 2007 |
245 |
$312,900 |
$199.79 |
133 |
|
Dec 2006 |
291 |
$309,000 |
$193.51 |
114 |
|
Nov 2006 |
281 |
$318,000 |
$197.32 |
111 |
|
Oct 2006 |
363 |
$312,400 |
$201.44 |
105 |
|
Sep 2006 |
344 |
$314,950 |
$198.08 |
98 |
|
Aug 2006 |
349 |
$325,000 |
$210.92 |
94 |
|
Jul 2006 |
373 |
$335,000 |
$210.62 |
93 |
|
Jun 2006 |
424 |
$339,000 |
$214.54 |
91 |
|
May 2006 |
374 |
$339,950 |
$219.05 |
99 |
|
Apr 2006 |
368 |
$334,600 |
$212.08 |
88 |
|
Mar 2006 |
387 |
$340,000 |
$215.54 |
99 |
|
Feb 2006 |
283 |
$335,000 |
$217.29 |
101 |
|
Jan 2006 |
274 |
$365,000 |
$216.38 |
98 |
|
Dec 2005 |
333 |
$355,000 |
$217.31 |
89 |
|
Nov 2005 |
385 |
$349,000 |
$220.00 |
81 |
|
Oct 2005 |
484 |
$359,450 |
$223.06 |
77 |
|
Sep 2005 |
531 |
$354,500 |
$219.26 |
77 |
|
Aug 2005 |
582 |
$360,500 |
$220.52 |
73 |
|
Jul 2005 |
608 |
$353,000 |
$218.99 |
71 |
|
Jun 2005 |
679 |
$350,000 |
$215.69 |
69 |
|
May 2005 |
644 |
$333,250 |
$209.95 |
68 |
|
Apr 2005 |
558 |
$326,750 |
$207.57 |
77 |
|
Mar 2005 |
584 |
$325,000 |
$200.17 |
81 |
|
Feb 2005 |
342 |
$318,500 |
$197.54 |
88 |
|
Jan 2005 |
341 |
$310,000 |
$195.19 |
85 |
|
Dec 2004 |
450 |
$312,500 |
$190.72 |
77 |
|
Nov 2004 |
448 |
$309,950 |
$191.62 |
63 |
|
Oct 2004 |
512 |
$299,250 |
$188.72 |
53 |
|
Sep 2004 |
496 |
$292,750 |
$185.78 |
61 |
|
Aug 2004 |
505 |
$285,000 |
$182.95 |
56 |
|
Jul 2004 |
544 |
$304,300 |
$179.28 |
61 |
|
Jun 2004 |
533 |
$285,000 |
$172.16 |
65 |
|
May 2004 |
476 |
$278,750 |
$169.64 |
65 |
|
Apr 2004 |
526 |
$259,950 |
$158.08 |
67 |
|
Mar 2004 |
508 |
$245,000 |
$142.56 |
71 |
|
Feb 2004 |
365 |
$237,000 |
unavailable |
81 |
|
Jan 2004 |
379 |
$229,000 |
unavailable |
78 |
|
Dec 2003 |
441 |
$240,000 |
unavailable |
82 |
|
Nov 2003 |
444 |
$220,750 |
unavailable |
78 |
|
Oct 2003 |
430 |
$219,880 |
unavailable |
76 |
|
Sep 2003 |
587 |
$223,000 |
unavailable |
71 |
|
Aug 2003 |
512 |
$220,000 |
unavailable |
75 |
|
Jul 2003 |
533 |
$210,000 |
unavailable |
77 |
|
Jun 2003 |
475 |
$207,000 |
unavailable |
77 |
|
May 2003 |
450 |
$198,950 |
unavailable |
85 |
|
Apr 2003 |
478 |
$197,750 |
unavailable |
82 |
|
Mar 2003 |
428 |
$192,000 |
unavailable |
77 |
|
Feb 2003 |
321 |
$186,895 |
unavailable |
79 |
|
Jan 2003 |
316 |
$186,000 |
unavailable |
96 |
|
Dec 2002 |
379 |
$193,500 |
unavailable |
93 |
|
Nov 2002 |
423 |
$190,000 |
unavailable |
82 |
|
Oct 2002 |
483 |
$189,900 |
unavailable |
83 |
|
Sep 2002 |
410 |
$174,000 |
unavailable |
85 |
|
Aug 2002 |
459 |
$180,000 |
unavailable |
74 |
|
Jul 2002 |
469 |
$176,000 |
unavailable |
83 |
|
Jun 2002 |
445 |
$185,000 |
unavailable |
80 |
|
May 2002 |
470 |
$178,450 |
unavailable |
77 |
|
Apr 2002 |
360 |
$169,500 |
unavailable |
93 |
|
Mar 2002 |
377 |
$169,000 |
unavailable |
84 |
|
Feb 2002 |
323 |
$170,900 |
unavailable |
89 |
|
Jan 2002 |
268 |
$172,475 |
unavailable |
99 |
|
Dec 2001 |
287 |
$182,000 |
unavailable |
86 |
|
Nov 2001 |
323 |
$161,500 |
unavailable |
85 |
|
Oct 2001 |
357 |
$166,500 |
unavailable |
79 |
|
Sep 2001 |
355 |
$168,000 |
unavailable |
81 |
|
Aug 2001 |
448 |
$160,350 |
unavailable |
84 |
|
Jul 2001 |
433 |
$169,900 |
unavailable |
90 |
|
Jun 2001 |
426 |
$166,225 |
unavailable |
96 |
|
May 2001 |
404 |
$162,050 |
unavailable |
97 |
|
Apr 2001 |
370 |
$158,750 |
unavailable |
94 |
|
Mar 2001 |
385 |
$159,900 |
unavailable |
97 |
|
Feb 2001 |
294 |
$159,950 |
unavailable |
103 |
|
Jan 2001 |
264 |
$165,000 |
unavailable |
102 |
|
Dec 2000 |
272 |
$156,500 |
unavailable |
100 |
|
Nov 2000 |
355 |
$154,500 |
unavailable |
93 |
|
Oct 2000 |
348 |
$153,000 |
unavailable |
98 |
|
Sep 2000 |
356 |
$160,000 |
unavailable |
104 |
|
Aug 2000 |
412 |
$163,375 |
unavailable |
94 |
|
Jul 2000 |
368 |
$155,000 |
unavailable |
110 |
|
Jun 2000 |
466 |
$165,845 |
unavailable |
104 |
|
May 2000 |
363 |
$158,000 |
unavailable |
105 |
|
Apr 2000 |
312 |
$155,000 |
unavailable |
113 |
|
Mar 2000 |
339 |
$162,700 |
unavailable |
102 |
|
Feb 2000 |
244 |
$149,620 |
unavailable |
110 |
|
Jan 2000 |
217 |
$156,000 |
unavailable |
112 |
|
Dec 1999 |
264 |
$155,000 |
unavailable |
118 |
|
Nov 1999 |
293 |
$149,900 |
unavailable |
98 |
|
Oct 1999 |
289 |
$147,895 |
unavailable |
108 |
|
Sep 1999 |
311 |
$157,000 |
unavailable |
106 |
|
Aug 1999 |
360 |
$148,500 |
unavailable |
112 |
|
Jul 1999 |
375 |
$147,800 |
unavailable |
105 |
|
Jun 1999 |
372 |
$150,000 |
unavailable |
103 |
|
May 1999 |
307 |
$145,500 |
unavailable |
106 |
|
Apr 1999 |
324 |
$151,700 |
unavailable |
111 |
|
Mar 1999 |
308 |
$151,000 |
unavailable |
121 |
|
Feb 1999 |
249 |
$148,900 |
unavailable |
120 |
|
Jan 1999 |
210 |
$143,000 |
unavailable |
115 |
|
Dec 1998 |
265 |
$140,000 |
unavailable |
118 |
|
Nov 1998 |
279 |
$153,000 |
unavailable |
126 |
|
Oct 1998 |
286 |
$142,825 |
unavailable |
115 |
|
Sep 1998 |
279 |
$144,500 |
unavailable |
102 |
|
Aug 1998 |
331 |
$145,000 |
unavailable |
113 |
|
Jul 1998 |
335 |
$150,000 |
unavailable |
108 |
|
Jun 1998 |
351 |
$148,500 |
unavailable |
103 |
|
May 1998 |
302 |
$145,500 |
unavailable |
99 |
|
Apr 1998 |
235 |
$149,000 |
unavailable |
111 |
|
Mar 1998 |
267 |
$142,500 |
unavailable |
114 |
|
Feb 1998 |
201 |
$139,900 |
unavailable |
126 |
|
Jan 1998 |
165 |
$149,490 |
unavailable |
131 |
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 – August 2009.
Reno Ignoramus
457 properties sold last month, of which 46% were REOs. Which means 210 REOs sold last month. There were 409 TDs recorded last month. In other words, the REO inventory grew last month by around 199 houses. (I say around because a few of the TDs did not go back to the bank, but only a few).
This has now happened for two months in a row (maybe more, but I don’t have the numbers).This is not a good trend for those looking for a market bottom. A growing REo inventory does not signal a recovering market.
And these numbers, of course, do not in any way account for the thousands of properties in some stage of foreclosure at the present time in Reno-Sparks.
RRB Fan
I 100% agree with RI … there has to be a lot of shadow inventory.
If I could buy a nice house in SW, Old SW, or Somersett at $100/sq ft then I would. In SW and Old SW I cannot beleive how small and junky all the homes priced below $200K are.
Reno Ignoramus
RRB Fan:
I appreciate your frustration and I also appreciate your talking about trying to buy around $100 sq. ft. Sometimes, IMHO, too much of the blog’s time is spent talking about $1 million properties when buying in at that price is something less than 1% of folks could ever even consider.
Sometimes we can lose our perspective and forget where we used to be. Two years ago, there was NOTHING for sale in the old SW or SW for under $200K. NOTHING. So while what is available in that price range in those neighborhoods may not be all that attractive right now, the fact that there is anything at all is a testament to the slow moving collapse of the bubble.
Try to be patient, RRB Fan. This bubble’s collapse is not over.