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Reno/Sparks Real Estate Stats for November 2014
Thanks to the Reno/Sparks Association of Realtors for the updated stats.
You can view the whole report here.
Below is an overview of the main points with commentary.
The median sales price held at $260,000. Still up 15.6% from November 2013. Hopefully, this is a sign that the market is straightening out. Number of units sold dropped to 464 from 489 in October. Typical of this time of year. Average days on market for sold properties was 97. Short sales took an average of 286 days while regular sales took 83 days. It seems short sales are getting longer and regular sales are still a little overpriced as they're taking 50 or so days to get an accepted offer. There were 378 new listings which is a major drop from the 483 in November of 2013. Much of this can be attributed to sellers worried about finding a home once they sell. Month's supply of inventory dove to 3.8 months. A strong seller's market tough buyers aren't biting as much on initial list prices. For more information on homes for sale and what your home is worth visit the websites below or give me a call at (775) 393-9601.
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