Below please find Washoe County, Nevada resale, new home sale, and refinance insured recordings statistics for May 2014 provided by our friends at Ticor Title of Nevada, Inc. [Click on the chart below to enlarge.]
Ticor Title’s commentary accompanying the statistics…
For May 2014, Total New MLS listings increased. Non Conditioned Sales were relatively the same as April. Short Sale and REO New Listings are continuing to trend down each month. Short Sale and REO sold transactions decreased as well. Median Sales Price went up slightly to $236,000. In Ticor’s chart attached, there is a steady increase in overall real estate transactions and refinance activity. New Home sales are relatively the same month over month. Builders are still being cautious, not overbuilding, and are acquiring land again. Quality and unique developments are coming onto the market but builders must be cautious not to overprice and stay within an affordable price point. Nevada is still in recovery so it’s important that we don’t make the same mistakes as we did before and create the BUBBLE. Commercial real estate is healthy and is contributing to the real estate market recovery. Out of 740 resale transactions in May, 35% were cash transactions.
related post: Washoe County insured recordings statistics – April 2014