Thanks to the Reno/Sparks Association of Realtors for providing the December 2013 market stats.
You can view the whole report by clicking the link to the right or watch the video below. Below is a brief overview…
- The median sales price rose to $229,500. $4,600 above November and up 23.1% from December 2012.
- Units sold was up 1.9% from November and down 1.6% from December 2012.
- Average days on market was up 7.1% from November and down 1.6% from December 2012. Regular sales average 83 days on market before closing.
- The average sold price per sqft. fell a little to $128 per sqft. If you’ve been watching properties you’ll notice that many properties are using price reductions to sell. Too many months of home sellers trying to out do the market and their neighbors.
- New listings were down 42.9% compared to November and down 10.1% compared to December 2012. This is not helping buyers as competition is still high.
- Current months supply of inventory is 3.3 months. Down from November’s 4.3 and December 2013’s 4 months. 3.3 months is a strong seller’s market.
Comparing these stats with the foreclosure stats shows that the seller’s market will continue for the foreseeable future.
For questions or more information on buying or selling in Reno and Sparks contact me at (775) 750-1437 or Ricky@RickyBeach.com