Fernley, Nevada Homes and Real Estate Report December 2013

The 2013 market returned to its normal seasonality of a winter slow down with sales higher in the spring and summer months.

Fernley Median Sales Price

• December 2013 median price was up 11.7% to $137,900 compared to $123,500 in November 2013 and up 43.6% compared to $96,000 in December 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 Home Sold

• December, 2013 homes sold was up 35.7% to 38 sales compared to 28 in November, 2013 and down -26.9% compared to 52 in December 2012.

Fernley Homes New Listings

• December, 2013 new listings was up 3.2% to 32 compared to 31 in November, 2013 and up 23.1% compared to 26 in December 2012.

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

• At of the end of December, there were 3.7 months of inventory based on the December sales rate.
• The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply.
• Unsold inventory includes Active Pendings.

Conclusion

• Fernley has seen a steady increase in median home price since April of 2012.  The median price in December 2013 was at $137,900 compared to November 2013 at $123,500 and up 44% over December 2012.
• Like Reno, median price has leveled off after accelerated median prices during the starting in April 2012 and continuing through the first half of 2013.
• Fernley sales trend mirrors Reno with a flattening in 2012 and then sales returning to the trend of summer highs and winter lows in 2013.
• Fernley had 38 home sales in December 2013 compared to 28 in November 2013 and down 27% from December 2012.  December 2013 had the fourth highest home sales for a December in the past eight years.
• Fernley's new listings in 2013 saw summer highs and winter lows, returning to a more normal trend.  Fernley's new listing inventory was down 3% from November 2013 and up 23% from December 2012.

To read the Fernley Market Reports- Dec 2013 with charts, graphs and five year history.

To read previous months and years.