The Reno/Sparks Association of Realtors® came out with the April 2013 market statistics.
The full real estate statistics for Reno/Sparks can be viewed by clicking the picture to the right.
Below is a brief summary of the big points.
- Median sales price was $207,750. Up from $195,000 in March 2013 and up 37.5% from April 2012.
- Units sold hit 470 which was a dip from the 487 in March but can be expected due to lack of inventory.
- 655 new listings this month which will hopefully increase next month’s sales.
- 71% of those new listing were regular sales while only 26% were distressed (REO/short sale). More and more homeowners are realizing they can sell without doing a short sale.
- Month’s supply of inventory rose a little to 3.7 months. If you take out the pending properties there is around 1 months worth of homes to sell before we run out.
The numbers came in as expected. High seller’s market with buyers fighting for homes via multiple offers.
For more information on buying or selling a home in Reno and Sparks contact Broker Ricky Beach at (775) 750-1437 or Ricky@Resnv.com
Ticor Title sent out the updated historical foreclosure stats up to April 2013.
You can view the graph by clicking the picture to the right.
Below is an overview:
- NODs (Notice of Default) inched up to 287
- NOSs (Notices of Sale) were down a bit but still higher than the past 9 months
- TDs (Trustee’s Deeds) stayed about average for the past few months.
- New REO listings went up a few
Overall, pretty expected numbers. The NODs continue to stay in the 200′s so the banks are going ahead and beginning foreclosure before AB300 passes. Hopefully, this adds some inventory in 12-14 months.
For more information on buying or selling in Reno and Sparks contact Broker Ricky Beach at (775) 750-1437 or Ricky@Resnv.com
Ticor Title Company sent out the updated foreclosure stats for March 2013.
The full stats can be viewed by clicking the picture to the right.
- Notice of Defaults hit their highest point since September 2011 (start of AB 284)
- Notice of Sales (final recording before foreclosure) at their highest since February 2012
- Trustee’s Deeds were at their highest since July 2012 (small change)
- New REO listing have hit their lowest point (24) since Ticor began collecting the data
The increase of NODs and NOSs is a good sign for buyers though it’s going to take at least 9 months to get NODs into Trustee Deeds. Sellers may only have a limited time to name their price when selling their homes.
For more information on buying and selling in Reno or Sparks contact Broker Ricky Beach at (775) 750-1437 or Ricky@Resnv.com
Earlier this month the Reno/Sparks Assocation of Realtors published the market stats for February of 2013. View Here. The report showed that we have 3.9 months of inventory.
For whatever reason (most likely because NAR does it the same way), the Association chose to include pending homes in the mix. For buyers and seller this doesn’t give a true picture of the amount of active inventory we have.
Let’s do the stats in a more realistic way. In a way that buyers and sellers actually see the market.
There were 408 units sold with 420 active listings (at the time of report completion). You can view these stats by clicking the picture to the right.
So we take 420 actives / 408 solds and we end up with 1.03. That means we have a little over 30 days of inventory. If all new listings stopped tomorrow it would take less than 35 days to clear the market.
Now that is a seller’s market.
If you have questions about the timing of selling your home or the value of it contact Broker Ricky Beach at (775) 750-1437 or Ricky@Resnv.com