April’s median sales price increased to $230,000 — a 0.9 percent rise over March’s $227,999 median. Year-over-year, April’s median sales price is up 12.2 percent.
The Spring home buying season is upon us and sales continue to climb. 514 houses sold in April 2014, representing a 7.3 percent month-over-month increase from the 479 houses sold in March. April’s units sold were up 6.4 percent year-over-year.
April’s median sold price per square foot (ppsf) came in at $130.62/sq.ft. — an increase of 0.7 percent over March’s median sold ppsf of $129.72.
Days on market (DOM) is relatively unchanged and remains low. April’s median DOM was 65 days — an increase of one day from the March’s median 64 DOM.
Available inventory jumped in April, but still remains at less than a two-months supply. Currently, 945 houses are available for sale — a 12.9 percent increase from the 837 houses available for sale this time last month. Year-over-year, April’s inventory is up 95.7 percent.
April sales by type break out as follows:
- REO sales: 6% – down from March’s 7%
- Short sales: 15% – up from March’s 14%
- Equity sales: 78% – up from March’s 77%
April sales by price band break out as follows in the table below…
| sales price ($000’s) | units sold | cumulative % |
| 0 – 99 | 14 | 2.7% |
| 100 – 199 | 182 | 38.1% |
| 200 – 299 | 176 | 72.2% |
| 300 – 399 | 69 | 85.6% |
| 400 – 499 | 38 | 93.0% |
| 500 – 599 | 7 | 94.4% |
| 600 – 699 | 9 | 96.1% |
| 700 – 799 | 8 | 97.7% |
| 800 – 899 | 5 | 98.6% |
| 900 – 999 | 1 | 98.8% |
| 1M+ | 6 | 100% |
| total | 515 |
Six $1M+ homes sold in April. With 19 $1M+ sales year-to-date 2014 is continuing 2013’s increasing trend of million-dollar home sales – See Million dollar (and above) home sales double in 2013
April’s median sold price for houses and condos combined was $218,000 –- a 1.4 percent increase over March’s median sold price of $215,000 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 |
| Apr 2014 | 514 | $230,000 | $130.62 | 65 | 945 | 1,198 |
| Mar 2014 | 479 | $227,999 | $129.72 | 64 | 837 | 1,249 |
| Feb 2014 | 387 | $235,000 | $126.43 | 91 | 864 | 1,169 |
| Jan 2014 | 353 | $220,000 | $125.32 | 87 | 817 | 1,084 |
| Dec 2013 | 492 | $231,000 | $120.80 | 76 | 828 | 953 |
| Nov 2013 | 475 | $224,900 | $126.51 | 71 | 974 | 1,171 |
| Oct 2013 | 537 | $214,750 | $125.45 | 63 | 1,052 | 1,224 |
| Sep 2013 | 513 | $224,900 | $126.53 | 70 | 1,019 | 1,305 |
| Aug 2013 | 638 | $220,000 | $124.56 | 62 | 1,028 | 1,361 |
| Jul 2013 | 593 | $215,000 | $123.25 | 64 | 920 | 1,455 |
| Jun 2013 | 532 | $224,950 | $123.60 | 59 | 859 | 1,527 |
| May 2013 | 538 | $218,500 | $119.14 | 64 | 756 | 1,563 |
| Apr 2013 | 483 | $205,000 | $112.53 | 77 | 579 | 1,519 |
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 2014. Note: This information is deemed reliable, but not guaranteed.
Click here for historical data back to 1998.
Related post: March median sales price, units sold, DOM and inventory
