Reno/Sparks Market Update For November 2012 (Video)

The Reno/Sparks Association of Realtors sent out their November 2012 market stats this week.

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.

 

 

Ricky Beach

Broker|Owner|Realtor®|CDPE®|SFR®

 

Renown Real Estate Services

6900 South McCarran Blvd., Suite 3040

Reno, NV 89509

 

| Cell: (775) 750-1437 | Fax: (775) 562-4779 |

| Ricky@Resnv.com | Blog | Search For Homes | Foreclosure Help |

 

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