Reno Real Estate Stats for June 2012

The Reno/Sparks Association of Realtors have posted the market stats for June. You can view the report by clicking on the picture or if you’re feeling lazy read the summary below.

• The median sales price rose to $170,000. That’s a 20% increase since January of 2012 or over 3% per month. To put this in perspective a typical market appreciation is 3-4% per year!
• Number of sold properties down to 492 from 519 due to lower inventory to sell.
• Average days on market for solds is 145 thanks to continued lack of communication in short sale.
• Average days on market for sold short sales was 218, 110 for regular sales, and 89 for REOs.
• 35 more new listings in June compared to May
• 318 of of the 641 new listings were regular sales. I guess sellers are starting to get it.
• 4.8 months of inventory meaning seller’s market. See above about equity sellers getting it.

For more information about buying or selling a home contact Ricky at (775) 750-1437 or Ricky@Resnv.com.