Fernley, Nevada Homes and Real Estate Report October 2013

By
Real Estate Agent with RE/MAX 4000 FA100032580

 

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 home sales rebounded in October.  October home sales were at 43, up 72% from September 2013 and down 10% from October 2012.
  • Fernley has seen a steady increase in median home price since February of 2012, when the median price bottomed at $73,000.  The median home price in October was at $140,000 compared to September at $125,000 and up 44% over October 2012.
  • After a historic low in new listing inventory in December 2012 at 26, new listings have been trending up.  In October, new listings declined 1.9% or 1 home unit from September.  New listings are up 11% from October 2012.
  • Fernley moved back into a seller's market with 3.4 month's supply of inventory.

To read theFernley-Market-Reports- Oct 2013 with charts, graphs and five year history.

To read September 2013 home report and previous months and years.

Report courtesy of the Reno/Sparks Association of REALTORS® with data input from NNRMLS.

 

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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