A full set of stats can be viewed here, November 2012 Real Estate Market Stats.
The important points are listed below along with a video of explanations.
For more information on buying or selling in Reno and Sparks contact Broker Ricky Beach at (775) 750-1437 or Ricky@Resnv.com.
- The median sales price was $182,500. Only up .4% since last month but up 22.5% from November 2011.
- The monthly supply of inventory was at 3.9 months. This is one full month below a balanced market. In November of 2011, one months after AB 284, the month’s supply of inventory was 6.4 months.
- The median sales price will probably keep rising (or at least stay where it is) as there were only 378 new listings. 19.19% less than October and down? 25% from November 2011.
- 57% of these new listings were regular sales (good for everyone) but 29% were short sales which means home owners are still going delinquent on payments.