Happy New Year!
Let’s take a look at the housing market numbers for 2011.
5,839 houses were sold for the year. This total is up nearly nine percent from the 5,359 houses sold in 2010. It also represents the most number of sales since the peak bubble year of 2005 when 6,072 houses were sold. Units-wise, 2011 was a very good year.
On the other hand, the median sales price for 2011 was $154,000. This represents a 10.7 percent decline from 2010’s median sale price of $172,500. And represents a 55 percent fall from 2005’s median sale price of $342,000. Will we look back at 2011 as the year when the bottom (in terms of median sales price) was reached? Only time will tell, but since hitting a low of $148,250 in October, the median has continued to climb. [Stay tuned for more details when I post December’s numbers.]
2011’s median sold price per square foot came in at $88.66/sq.ft. — a 10.6 percent decrease from 2010’s median sold ppsf of $99.13.
The median size of the houses sold in 2011? 1,711 square feet.
2011’s median list price was $156,500. As with the median sales price, median list was similarly down 10.7 percent from 2010’s median list (of $175,230).
Average days on market came in at 136 days. This number was unchanged from 2010.
REO’s (bank-owned) sales comprised the largest sales type for 2011 — accounting for more than 36 percent of total sales. Although REO sales were up from 2010, look for this to change in 2012 due to the effects of AB284. 2011 sales by type were:
- REO sales: 36% – up from 2010’s 32%
- Short sales: 31% – down from 2010’s 35%
- Equity sales: 31% – down from 2010’s 32%
Broken out by price band, the 2011 sales look like…
| sales price ($000’s) | units sold |
| 0 – 99 | 1,031 |
| 100 – 199 | 3,015 |
| 200 – 299 | 1,088 |
| 300 – 399 | 348 |
| 400 – 499 | 144 |
| 500 – 599 | 75 |
| 600 – 699 | 40 |
| 700 – 799 | 20 |
| 800 – 899 | 16 |
| 900 – 999 | 19 |
| 1M+ | 43 |
| total | 5,839 |
If you would like to see any other housing market metrics for 2011 as a whole, let me know.
Lastly, recall that the winner of the “Guess the Medians” contest will be revealed next week.
Note: The median home price data reported above 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 – January 2012.
Note: This information is deemed reliable, but not guaranteed.
December median sold price, units, DOM, $/sq.ft. | RRB Home
[…] Wow! 2011 goes out with a nice uptick in the medians. December 2011′s median sold price was $155,400 – the highest monthly median we’ve seen since April last year. Not only was December’s median higher than the seven previous months, but it was also higher than the overall median sales price for all of 2011 — $154,000 (see 2011 by the numbers). […]