April’s sales metrics were all up compared to March’s numbers.
April’s median sales price of $208,000 represents:
- a 6.7 percent month-over-month increase from March’s $195,000
- a 37.7 percent year-over-year increase over April 2012’s median of $151,100
- a four-year high; the median sales price for the Reno-Sparks market has not been this high since February 2009.
The median sold price per square foot (ppsf) continues to skyrocket. April’s median sold ppsf of $112.42/sf increased 3.3 percent month-over-month.
463 houses sold in April representing a 3.5 percent decrease in month-over-month number of sales. April’s number of sales is down 12 percent from a year ago.
Median days on market (DOM) dropped to 79 days – from 92 days in March. That represents nearly two weeks shorter time on market.
Inventory remains in short supply. With only 579 available houses the market currently has only a five-week supply of inventory. Despite the low inventory, the number of active available listings has been trending upward since January.
April sales by type break out as follows:
- REO sales: 8% – down from March’s 9%
- Short sales: 33% – up slightly from March’s 32%
- Equity sales: 59% – up slightly from March’s 58%
“Equity” sales now consistently account for more than half of monthly sales.
April sales by price band break out as follows in the table below…
| sales price ($000’s) | units sold | cumulative % |
| 0 – 99 | 27 | 5.8% |
| 100 – 199 | 187 | 46.2% |
| 200 – 299 | 136 | 75.6% |
| 300 – 399 | 55 | 87.5% |
| 400 – 499 | 16 | 90.9% |
| 500 – 599 | 16 | 94.5% |
| 600 – 699 | 12 | 97.0% |
| 700 – 799 | 7 | 98.5% |
| 800 – 899 | 0 | 98.5% |
| 900 – 999 | 1 | 98.7% |
| 1M+ | 6 | 100% |
| total | 463 |
For those readers who prefer the median sold price for houses and condos combined, April’s 541 sold houses, condos and town homes exhibited a combined median sold price of $188,000 – Up 7.4 percent from March’s median sold price of $175,000 for 557 combined sales.
The table below contains the past 13 months of data…
| Month Year | # Sold | Median Sold Price | Sold Price per Sq Ft | Median DOM | # of Actives | # of Pendings |
| Apr 2013 | 463 | $208,000 | $112.42 | 79 | 579 | 1,519 |
| Mar 2013 | 487 | $195,000 | $108.79 | 92 | 502 | 1,479 |
| Feb 2013 | 419 | $190,200 | $105.03 | 104 | 474 | 1,485 |
| Jan 2013 | 360 | $181,300 | $102.48 | 114 | 465 | 1,462 |
| Dec 2012 | 492 | $186,500 | $102.42 | 107 | 539 | 1,421 |
| Nov 2012 | 524 | $181,000 | $99.61 | 105 | 640 | 1,646 |
| Oct 2012 | 537 | $180,000 | $97.79 | 102 | 728 | 1,772 |
| Sep 2012 | 473 | $175,000 | $98.41 | 92 | 836 | 1,811 |
| Aug 2012 | 536 | $175,500 | $98.52 | 86 | 882 | 1,846 |
| July 2012 | 514 | $165,000 | $94.59 | 88 | 832 | 1,873 |
| Jun 2012 | 515 | $170,000 | $91.43 | 92 | 759 | 1,891 |
| May 2012 | 524 | $164,750 | $90.56 | 99 | 783 | 1,873 |
| Apr 2012 | 526 | $151,100 | $87.04 | 95 | 785 | 1,885 |
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 – May 2013. Note: This information is deemed reliable, but not guaranteed.
Click here for historical data back to 1998.
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