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Fernley's Homes and Real Estate Report January 2014

The Acceleration in Median Price Seen in the First Half of 2013  has Slowed.  Since April of 2013, we Have Seen a Leveling Trend That Has Continued into January 2014. Fernley Homes Median Sales Price January 2014 median home price was down -5.7% to $130,000 compared to $137,900 in December 2013 and up 32.3% compared to $98,250 in January 2013. Fernley Number of Homes Sold January, 2014 homes sold was down -44.7% to 21 compared to 38 in December, 2013 and down -30.0% compared to 30 in January 2013. Fernley Homes New Listings January, 2014 new listings was up 42.4% to 47 compared to 33 in December, 2013 and down 21.7% compared to 60 in January 2013. Absorption Months Supply of Inventory  (Unsold Inventory Divided by Sales per Month) As of the end of month January, there were 6.7 months of inventory based on the January sales rate. The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply. Unsold inventory includes Active Pendings.  This method of reporting month's supply of inventory follows the industry standard of including all pending sales in the active inventory. Conclusion The acceleration in median home price seen in the ... more

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