August saw a very nice 3.3 percent jump in the median sold price – $155,000 compared to July’s $150,000. The sold price per square foot also increased a healthy 4.4 percent, coming in at $91.32/sq.ft.
August also saw very strong units sold. 531 units for the month was the highest number of sales for an August since the bubble year of 2005; and represent an 18 percent increase in units sold over last August 2010. This was also the fourth consecutive month of sales exceeding 500 units for the month.
Bank-owned sales were down, and equity sales were up over July’s numbers. August’s sales breakout as follows:
- REO sale: 31% – down from July’s 37%
- Short sales: 30% – up from July’s 28%
- Equity sales: 35% – up from July’s 33%
August sales by price band break out as follows:
| sales price ($000’s) | units sold |
| 0 – 99 | 80 |
| 100 – 199 | 282 |
| 200 – 299 | 99 |
| 300 – 399 | 38 |
| 400 – 499 | 10 |
| 500 – 599 | 7 |
| 600 – 699 | 5 |
| 700 – 799 | 3 |
| 800 – 899 | 3 |
| 900 – 999 | 1 |
| 1M+ | 3 |
| total | 531 |
For those readers who prefer the median sold price for houses and condos combined, August’s 617 sold houses, condos and town homes exhibited a combined median sold price of $140,000 – up 1.45 percent from July’s combined median of $138,000 for 597 sales.
Historical data follows:
| Month Year | # Sold | Sold Price | Sold Price per Sq Ft | Average DOM | # of Listings | # of Pendings |
| Aug 2011 | 531 | $155,000 | $91.32 | 126 | 1,947 | 1,694 |
| July 2011 | 504 | $150,000 | $87.46 | 128 | 2,028 | 1,667 |
| June 2011 | 534 | $153,400 | $90.27 | 123 | 1,990 | 1,689 |
| May 2011 | 505 | $150,000 | $88.46 | 133 | 1,968 | 1,682 |
| Apr 2011 | 435 | $155,250 | $89.74 | 137 | 1,914 | 1,593 |
| Mar 2011 | 511 | $160,000 | $91.59 | 132 | 1,906 | 1,497 |
| Feb 2011 | 387 | $161,000 | $93.35 | 142 | 1,882 | 1,416 |
| Jan 2011 | 365 | $157,000 | $92.35 | 152 | 1,970 | 1,329 |
| Dec 2010 | 485 | $165,000 | $94.31 | 143 | 2,021 | 1,148 |
| Nov 2010 | 398 | $170,000 | $96.43 | 139 | 2,060 | 1,376 |
| Oct 2010 | 418 | $174,950 | $98.57 | 135 | 2,146 | 1,371 |
| Sep 2010 | 467 | $168,000 | $97.52 | 132 | 2,186 | 1,473 |
| Aug 2010 | 450 | $180,000 | $97.54 | 127 | 2,222 | 1,513 |
| Jul 2010 | 415 | $180,000 | $101.84 | 128 | 2,158 | 1,580 |
| Jun 2010 | 602 | $170,000 | $100.52 | 145 | 1,966 | 1,625 |
| May 2010 | 450 | $175,807 | $102.37 | 138 | 1,789 | 1,804 |
| Apr 2010 | 510 | $179,995 | $103.13 | 128 | ||
| Mar 2010 | 477 | $175,000 | $99.14 | 141 | ||
| Feb 2010 | 338 | $170,000 | $101.68 | 138 | ||
| Jan 2010 | 346 | $167,000 | $97.06 | 134 | ||
| Dec 2009 | 424 | $178,000 | $101.28 | 126 | ||
| Nov 2009 | 461 | $175,000 | $103.61 | 112 | ||
| Oct 2009 | 561 | $180,000 | $103.52 | 123 | ||
| Sep 2009 | 520 | $185,948 | $103.31 | 128 | ||
| Aug 2009 | 482 | $179,900 | $102.64 | 116 | ||
| Jul 2009 | 515 | $180,000 | $103.45 | 126 | ||
| Jun 2009 | 536 | $180,317 | $104.09 | 136 | ||
| May 2009 | 426 | $175,000 | $102.29 | 139 | ||
| Apr 2009 | 429 | $190,000 | $105.71 | 133 | ||
| Mar 2009 | 369 | $200,000 | $105.85 | 133 | ||
| Feb 2009 | 293 | $205,000 | $111.52 | 132 | ||
| Jan 2009 | 233 | $200,000 | $113.04 | 117 | ||
| 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 | ||
| Dec2007 | 228 | $283,950 | $167.22 | 143 | ||
| Nov2007 | 204 | $299,750 | $172.24 | 126 | ||
| Oct2007 | 241 | $296,000 | $173.55 | 116 | ||
| Sep2007 | 230 | $299,945 | $179.46 | 114 | ||
| Aug2007 | 311 | $305,000 | $182.49 | 118 | ||
| Jul2007 | 300 | $315,000 | $189.78 | 113 | ||
| Jun2007 | 329 | $320,000 | $196.78 | 104 | ||
| May2007 | 364 | $313,200 | $190.81 | 107 | ||
| Apr2007 | 320 | $309,500 | $193.93 | 121 | ||
| Mar2007 | 324 | $315,000 | $189.61 | 121 | ||
| Feb 2007 | 269 | $315,000 | $191.18 | 126 | ||
| Jan 2007 | 245 | $312,900 | $199.79 | 133 | ||
| Dec2006 | 291 | $309,000 | $193.51 | 114 | ||
| Nov2006 | 281 | $318,000 | $197.32 | 111 | ||
| Oct 2006 | 363 | $312,400 | $201.44 | 105 | ||
| Sep2006 | 344 | $314,950 | $198.08 | 98 | ||
| Aug2006 | 349 | $325,000 | $210.92 | 94 | ||
| Jul2006 | 373 | $335,000 | $210.62 | 93 | ||
| Jun2006 | 424 | $339,000 | $214.54 | 91 | ||
| May2006 | 374 | $339,950 | $219.05 | 99 | ||
| Apr2006 | 368 | $334,600 | $212.08 | 88 | ||
| Mar2006 | 387 | $340,000 | $215.54 | 99 | ||
| Feb 2006 | 283 | $335,000 | $217.29 | 101 | ||
| Jan 2006 | 274 | $365,000 | $216.38 | 98 | ||
| Dec2005 | 333 | $355,000 | $217.31 | 89 | ||
| Nov2005 | 385 | $349,000 | $220.00 | 81 | ||
| Oct2005 | 484 | $359,450 | $223.06 | 77 | ||
| Sep2005 | 531 | $354,500 | $219.26 | 77 | ||
| Aug2005 | 582 | $360,500 | $220.52 | 73 | ||
| Jul2005 | 608 | $353,000 | $218.99 | 71 | ||
| Jun2005 | 679 | $350,000 | $215.69 | 69 | ||
| May2005 | 644 | $333,250 | $209.95 | 68 | ||
| Apr2005 | 558 | $326,750 | $207.57 | 77 | ||
| Mar2005 | 584 | $325,000 | $200.17 | 81 | ||
| Feb 2005 | 342 | $318,500 | $197.54 | 88 | ||
| Jan 2005 | 341 | $310,000 | $195.19 | 85 | ||
| Dec2004 | 450 | $312,500 | $190.72 | 77 | ||
| Nov2004 | 448 | $309,950 | $191.62 | 63 | ||
| Oct2004 | 512 | $299,250 | $188.72 | 53 | ||
| Sep2004 | 496 | $292,750 | $185.78 | 61 | ||
| Aug2004 | 505 | $285,000 | $182.95 | 56 | ||
| Jul2004 | 544 | $304,300 | $179.28 | 61 | ||
| Jun2004 | 533 | $285,000 | $172.16 | 65 | ||
| May2004 | 476 | $278,750 | $169.64 | 65 | ||
| Apr2004 | 526 | $259,950 | $158.08 | 67 | ||
| Mar2004 | 508 | $245,000 | $142.56 | 71 | ||
| Feb 2004 | 365 | $237,000 | unavailable | 81 | ||
| Jan 2004 | 380 | $228,500 | unavailable | 78 | ||
| Dec2003 | 441 | $240,000 | unavailable | 82 | ||
| Nov2003 | 444 | $220,750 | unavailable | 78 | ||
| Oct2003 | 430 | $219,880 | unavailable | 76 | ||
| Sep2003 | 587 | $223,000 | unavailable | 71 | ||
| Aug2003 | 512 | $220,000 | unavailable | 75 | ||
| Jul2003 | 533 | $210,000 | unavailable | 77 | ||
| Jun2003 | 475 | $207,000 | unavailable | 77 | ||
| May2003 | 450 | $198,950 | unavailable | 85 | ||
| Apr2003 | 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 | 269 | $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 | 297 | $159,950 | unavailable | 104 | ||
| 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 | 248 | $148,000 | unavailable | 108 | ||
| Jan 2000 | 223 | $156,000 | unavailable | 113 | ||
| 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 | 280 | $152,800 | 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 | 167 | $149,490 | unavailable | 129 |
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 – September 2011. Note: This information is deemed reliable, but not guaranteed.
August median sold price, units, DOM, $/sq.ft.
[…] August saw a very nice 3.3 percent jump in the median sold price – $155,000 compared to July’s $150,000. The sold price per square foot also increased a healthy 4.4 percent, coming in at $91.32/sq.ft. August also saw very strong … Continue reading → […]
rrb_reader
Isn’t someone going to state that it looks like we hit bottom in July and now it’s time to buy before prices start to skyrocket?
Hudson
I’m going to pay off my existing 100K bal. mortgage over the next year and target new home buying next winter. I still think there more of a chance that a current 400K home will be 300K next year than there is that it will be worth 500K.
The banks are still proliferating the root cause. I have personal knowledge of some folks in an underwater 360 Underwater home being given a loan a new 300+K mortage, after which the underwater home was put up for short sale.
How long before they stop making the payment….any guesses?
MikeZ
This could be the bottom. But is it?
The Reno median home price has been affordable – with traditional lending guidelines – for the median household income for some months now. That particular pressure and imbalance is gone, in fact prices have arguably overcorrected, the limiting factor now seems to be the presence or absence of qualified buyers, which is also affected by our relatively high unemployment rate.
Joey canolli
Why is it that I can’t find ONE house for sale in the entire downtown core area?
Lynne B
Is there a bottom? I saw this on Zillow today, it’s about 1/2 mile from where I live and it sold for a whopping 20k more than they paid for it in 1994. http://www.zillow.com/homedetails/4559-Village-Green-Pkwy-Reno-NV-89519/7300114_zpid/
observer gadfly
MikeZ: “This could be the bottom….”
He’s been saying that for years now. Eventually, of course, he’ll be right. Then, he’ll say, “I told you so!”
Sure, he goes on to give his qualifiers, just to cover bases. But, seriously, gimme a break.
MikeZ
I feel so special, having my own obsessed stalker!
There’s help available for you, gadfly, but you have to seek it out. Good luck to you.
observer gadfly
Not obsessed … dismissive.
Seems you like the attention a bit too much… 😐
Joey canolli
Does anyone here know what type of development if any is slated for the empty lot on museum street in downtown Reno?
MikeZ
Please find some other target for your affection, gadfly, this has already crossed over into creepy.
Mike McGonagle
Joey, the site on Museum was supposed to become Grant’s Landing. Try a site search on Downtown Makeover for the history of the project
The property sold in January.
Deal closed 23 December 2010. It was for the entire parcel, 5.53 acres and the sales price was $2,304,977 and appears to be all cash.
CFCP LLC is an entity that has existed since 2003. It shares a director and an address with the Community Foundation of Western Nevada. They seem like a really odd match for the Grant’s Landing property, unless they are acting as a front for someone who is donating to buy the property, then have it assigned to the charity later. Doesn’t sound like high end row houses are in the future for the site.
Gadfly
Well, this is what I reap for not keeping up with the RRB. Another gadfly is buzzing around, I see. Imitation is the sincerest form of flattery, they say (although both who “they” are and whether this saying is true seem problematic to me), so have at it, gadfly the minor. Unlike the bear also known as Smarten’s Vanishing Equity (or SVE), who appears to have vanished along with smarten, I am not going to gainsay your use of a similar moniker to mine, especially if you continue to post the written equivalent of sticking out your tongue and saying, “neener-neener,” as the employment of such simplistic rhetoric likely precludes the possibility that any observant reader will be confused as to the source of a given comment by a poster whose moniker is or includes the word “gadfly.” Unfortunately, the target of your scathing attack is not that observant.
MikeZ, I am disappointed in you. I would think that you would by now recognize that I, Gadfly (the poster formerly known as MikeZ’s Vanishing Credibility), am unlikely to use words such as “gimme” or to craft one sentence paragraphs. You may even have noticed that I usually eschew the use of contractions in my writing, unlike gadfly the minor’s posts above, but that may be too subtle an analysis for you, and I think we have shown, quite conclusively, that subtleness is not your forte. After all, you are the person who actually thought that I might be the same person as Mr. SVE even though anyone with even a modicum of awareness of writing styles could easily distinguish my erudite prose from the playground rhetoric of Mr. SVE.
joey canolli
Mike,
Thank you for the reply on my questions about Museum Way. btw, you’ll have to excuse my crafty one sentence paragraphs as the grammar police seem to be here. Anyways, I was curious about that particular area because I am the new owner of a property in that exact area. While I do realize the area in itself is very much a transitional area, I couldn’t pass up on a great deal that was also zoned mixed use. I look forward to the revitalization of downtown Reno! Contrary to popular opinion I truly feel that is slowly yet surely turning into a downtown we can be proud of in the future! Again, thanks!
regards
Joey! hey hey
joey canolli
btw… Have a field day with my grammar gadfly! I may have had one too many double Grand marnier’s !