March recordings rose nicely over the previous month’s. Washoe County’s total recordings (resales, new home sales, and refinances) were up 28 percent month-over-month. New home sales more than doubled – up 110 percent.
[Click on the chart below to see the data.]
Thank you to our friends at Ticor Title for this data.
MikeZ
“Washoe County’s total recordings (resales, new home sales, and refinances) were up 28 percent month-over-month. New home sales more than doubled – up 110 percent.”
There’s your end-of-the-tax-credit acceleration, skeptical.
skeptical
a double from an all-time low doesn’t impress me too awful much. How old are those 74 “new homes” anyway? How many stood through a few years of weather before finally getting finished off? You won’t find me bottom fishing in those places.
Volume is up, though. Let’s see how this all plays out.
Looking forward to seeing median sales prices and $/sqft on the back of the increased volume.
skeptical
Upon further review, we already have the data for March. According to Guy on 4 Apr:
– $/sqft sits at $98.48
– Median sits at $176k (for SFR only, $160 for SFR and condos combined, which is at/near 10 year lows)
Near lows for the last ten years. Hardly anything to cheer about.
Problem though:
– Ticor Title shows 658 (SFR) + 74 (condo) = 732 sales for March
– 1st Centennial reports 410 (SFR) + 64 (condo) = 474 total sales in Reno/Sparks
– Guy reported 455 SFR sold in March on 4 Apr.
So, who’s right? Hard to come to conclusions when the data is inconsistent or flawed.
MikeZ
Step back, skeptical and take a good look at all the hoops you’re jumping through, to try to deny the validity of the data.
Now multiply that by the last 9 mos.
Guy Johnson
skeptical,
Ticor’s numbers are for the County (Washoe). My numbers are for MLS area #100 (Reno-Sparks). Hence the difference.