The median home sales price in Reno and Sparks, Nevada remained unchanged in September. September’s median sales price came in at $310,000 — the same as August’s median sales price.
Year-over-year September’s median sales price is up 8.8 percent over September 2015’s median of $285,000.
September’s median sold price per square foot (ppsf) increased; to $174.52/sq.ft. — a 1.1 percent increase over August’s $172.67/sq.ft. Year-over-year the median sold ppsf is up 9.5 percent.
The number of houses sold in September also increased — to 620 units sold. That total represents a 5.9 percent increase over the 590 houses sold in August. Year-over-year, September’s total houses sold is up 8.2 percent from the 573 houses sold in September 2015.
September’s median days on market (DOM) increased by a week — coming in at 73 DOM. DOM has been trending upwards over the past few months. Compare September’s 73 DOM to May’s 58 DOM.
September’s median days to contract (DTC) metric [the number of days that a property was listed on the MLS before going into contract (e.g. pending)] came in at 7 days — an increase of 2 days over the 5 days observed in August.
Available inventory rose slightly. Currently 1,451 houses are listed and available for sale. Compare that number to the 1,440 houses available this time last month.
Pending home sales are off more sharply. Currently, there are 928 houses pending sale. Compare that August’s 1,031 pending sales this time last month — a 10 percent decrease.
September sales by type break out as follows:
- REO sales: 2% – unchanged from August’s 2%
- Short sales: 3% – unchanged from August’s 3%
- Equity sales: 92% – down from August’s 93%
September sales by price band break out as follows in the table below…
| sales price ($000’s) | units sold | cumulative % of sales |
| 0 – 99 | 2 | 0.3% |
| 100 – 199 | 33 | 5.6% |
| 200 – 299 | 254 | 46.6% |
| 300 – 399 | 180 | 75.6% |
| 400 – 499 | 77 | 88.1% |
| 500 – 599 | 26 | 92.3% |
| 600 – 699 | 18 | 95.2% |
| 700 – 799 | 8 | 96.5% |
| 800 – 899 | 8 | 97.7% |
| 900 – 999 | 4 | 98.4% |
| 1M+ | 10 | 100% |
| total | 620 |
September’s median sold price for houses and condos combined was $296,750 — a 2.9 percent one-month increase over August’s median sold price of $289,000 for combined sales of houses and condos.
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 |
| Sep 2016 | 620 | $310,000 | $174.52 | 73 | 1,451 | 928 |
| Aug 2016 | 590 | $310,000 | $172.67 | 66 | 1,440 | 1,031 |
| Jul 2016 | 596 | $319,250 | $173.60 | 64 | 1,434 | 1,036 |
| Jun 2016 | 660 | $312,650 | $175.49 | 61 | 1,299 | 1,072 |
| May 2016 | 600 | $310,000 | $172.09 | 58 | 1,156 | 1,228 |
| Apr 2016 | 571 | $295,000 | $167.86 | 58 | 840 | 1,142 |
| Mar 2016 | 578 | $295,000 | $165.09 | 64 | 833 | 1,037 |
| Feb 2016 | 369 | $290,000 | $162.77 | 85 | 765 | 1,010 |
| Jan 2016 | 387 | $278,000 | $153.10 | 87 | 762 | 853 |
| Dec 2015 | 501 | $290,000 | $157.20 | 76 | 819 | 749 |
| Nov 2015 | 423 | $292,000 | $158.97 | 72 | 925 | 890 |
| Oct 2015 | 540 | $279,950 | $158.99 | 65 | 1,105 | 886 |
| Sep 2015 | 573 | $285,000 | $159.42 | 63 | 1,231 | 931 |
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 – October 5, 2016. Note: This information is deemed reliable, but not guaranteed.
Related post: August median sales price, units sold, DOM, DTC and inventory
