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Reno/Sparks Homes and Real Estate Market Report November 2011

Summary
November sales are up 22% over last year and year-to-date home sales have exceeded 2010 by 10%. We have also seen relative stable prices for the past seven months. These are positive indicators for the residential housing market. Reno/Sparks Homes Median Sales Price
November 2011 median price was up less than 1% to $149,506 compared to $149,000 in October 2011. Median price is defined as the mid-point, where, for the time period identified, the price for one-half of the sales are higher and one-half are lower. Reno/Sparks Price per Square Foot Solds
Price per square foot is at $88.30. Price per square foot by area groups, as provided in the Detailed Report, is a good way to compare similar homes for current value. Reno/Sparks Number of Homes Sold
November ended the month with 488 sold transactions, down 1% from the prior month. Sales are up 22.3% from the same period last year. November 2011 is the second month of comparing year-over-year figures without the influence of tax incentives. Reno/Sparks Homes Average Days on Market
The average days on market are 146 days, slightly down from October 2011. Days on Market (DOM) by Special Conditions
Short sales continue to influence ... more

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