Fernley Homes and Real Estate Market Report June 2012

By
Real Estate Agent with RE/MAX 4000

fernley homes and real estate

Fernley Homes and Real Estate Market Report, Your Guide To Buying or Selling Real Estate in Fernley, Nevada

Fernley Homes Median Sales Price

  • June 2012 median home price increased 2.2% to $92,000 compared to $90,000 in May 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.

Fernley Number of Homes Sold

  • June ended the month with 41 sold transactions, down 16.3% from the prior month, and down 21.2% from June 2011.

Fernley Average Days on Market

  • The average days on market are up to 143 days, an increase of 48.3% from the prior month.

Fernley Homes New Listings

  • 43 new listings were taken in June down 23% from May, and a 38% decrease from the prior year.
  • Distressed listings represented 70% of the market, up from May 2012 at 46%.

Fernley Homes Months Supply of Inventory (Unsold Inventory divided by Sales per Month)

  • As of June 30 there was 4.7 months of inventory based on the June 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 past two months, we have seen a steady decline in the number of sales month-over-month. Demand and buyer confidence is strong, but inventory levels remain low. This is a contributing factor in the declining sales.
  • June 2012 is the second consecutive month that the median home sales price was up significantly year-over-year. Median price is up 8% over June 2011. Low inventory and buyer demand is putting upward pressure on median sales price.
  • Active inventory is down 17.5% from a year ago. For the fourth consecutive month, the Fernley market has remained a seller's market. We believe this trend will continue as banks continue to adjust to state legislation and the National Mortgage Settlement.
  • Current Month's Supply of Inventory in the Fernley market is at 4.7 MSI showing the market as a seller's market.

To read the full report complete with charts, graphs and 5 year history Fernley Market Report June 2012

To read Fernley Homes and Real Estate Market Report May 2012 and previous months and years.

Report courtesy of Reno/Sparks Association of REALTORS® with data supplied by Northern Nevada Regional MLS.

 

Posted by

Sandra Mathewson

CRS ABR GRI SFR CDPE

RE/MAX 4000 Inc.

call or text (970) 261-1686

I am Sandra Mathewson, a full-time Realtor working both as a listing agent and a buyer's agent. I love using the internet to meet people and keep in touch with friends and clients. I write this blog to show you why Grand Junction, Fruita, Palisade and surrounding real estate is truly something to be desired.

Visit my GrandJunctionHomesGuide.com website if you are considering buying or selling. You will find it as your best online source of information. How is the market doing? I'll keep you posted with the most current MLS reports. You can also search for homes for sale in Grand Junction (including Fruita, Palisade and surrounding areas). Read about the communities, events and things to do in this great Grand Junction, Colorado Lifestyle.

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Rainmaker
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Team Honeycutt
Allen Tate - Concord, NC

Thanks for sharing your informative statistics for June with us. I enjoy looking at other area statistics and then compare to ours.

Betty

Jul 15, 2012 05:45 AM #1
Rainmaker
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Sandra Mathewson
RE/MAX 4000 - Grand Junction, CO
CRS,ABR,SRES,GRI,CDPE RE/MAX

Thanks for stopping Betty!

Our market is still recovering, so the uptick is positive news for us.

Sandra

Jul 15, 2012 05:58 AM #2
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Rainmaker
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Sandra Mathewson

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