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Fernley, Nevada Homes and Real Estate Report October 2013

 
Fernley has seen a steady increase in median home sales price since February 2012.   Fernley Median Home Sales Price October 2013 median home price was up 12.0% to $140,000 compared to $125,000 in September 2013 and up 44.3% compared to $96,999 in October 2012. 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. Number of Homes Sold October, 2013 homes sold was up 72.0% to 43 compared to 25 in September, 2013 and down-10.4% compared to 48 in October 2012. Fernley New Listings October, 2013 new listings was down -1.9% to 51 compared to 52 in September, 2013 and up 10.9% compared to 46 in October 2012. Absorption Months Supply of Inventory (Unsold Inventory divided by Sales per Month) As of end of the month, there were 3.4 months of inventory based on the October sales rate. The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply. Unsold inventory includes Active Pending's.  This method of reporting month's supply of inventory follows the industry standard of including all pending sales in the active inventory. Conclusion Fernley ... more

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