November 2012’s market report, provided by the Reno/Sparks Association of REALTORS®, has been released.
Commentary from November’s Reno/Sparks Market Report…
“Although we are experiencing a limited supply of homes for sale, we saw very little change from the number of homes sold in November in 2012 versus November 2011,” said Kevin Sigstad, 2012 president of Reno/Sparks Association of REALTORS. “We also are continuing to see the demand for homes on the rise as shown in the increase in median home price by 23 percent from November 2011 to the current level of $182,500. The high demand also continues to put pressure on the inventory of available homes for sale.” November 2012 median price was up .4% to $182,500 compared to $181,750 in October 2012 and up 22.5% compared to $149,012 in November 2011.
Click on either of the charts below to access the full report.
Here is a chart showing the median sales price in Reno/Sparks over the past thirteen months…
To put the above chart in perspective below is a chart showing the median sales price in Reno/Sparks over the past eight years…
Related post: RSAR Monthly Market Reports – August 2012
MikeZ
Looks to me like we’re in a solid upturn and have been for about a year now.
Frosting
Reno had a Huge Bubble. One of the biggest in the country. The burst of the Huge Bubble was dramatic, and brought in a substantial overcorrection. This past year saw much of the overcorrection removed, to the point where the median is now probably about where it ought to be given Reno’s median household income. Only a Fool from 2004 would suggest that the median is going up another 23% in 2013.
RSAR Monthly Market Report – December 2012 | Reno Real Estate Blog
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