This has been a tough year for Fernley, but then, we are a "tough little city".
In December there were 29 stick built homes sold:
Fernley Golf Course area had 7 homes sold, average list price $157,500 and the median list price was $150,000. Average sales price $150,557, median sales price $140,000.
The rest of Fernley in December 2008 had 22 homes sold:
The average list price was $159,859 and the median list price was $132,949. The average sales price was $156,545, the median sales price was $132,500. The high sales price was $365,000 and the low sale price was $74,000.
For the entire year 2008, the golf course had 55 homes sold. The average list price was $184,168 and the average sales price was $178,642. The average days on market was 139 days.
For the entire year 2008, the rest of Fernley had 284 homes sold. The average sales price was $173,181 and the average days on market was 153 days.
For the entire year 2007, the golf course sold 41 homes with the average sales price of $244,047 and the average days on market was 145.
For the entire year 2007, the rest of Fernley sold 272 homes with an average sales price of $230,810 and the average days on market was 155.
CURRENTLY, we have 295 homes for sale in all of Fernley including the golf course. The average list price is $180,379 and the average days on market is 129 with the average per sq.ft. price of $104.
Out of the 295 homes for sale in all of Fernley, 129 are bank owned with an average list price of $137,083 and the average days on market are 90 and average per sq.ft. list price of $81.00.
Currently there are 49 short sale listings.
Certainly we have not seen the end to loss of property values and foreclosures in Fernley, but signs are pointing to a slow down.
This has been a very tough year for Fernley. We started 2008 with a devasting flood (thankfully no loss of life). Our new home builders closed up and many are in bankruptcy.
We are down, but we are not out. There are small signs of development: a new motel in West Fernley, and the Falcon Peak Station under construction by Donner Trails.
Please feel free to contact me with any questions regarding the Fernley Housing Market. Every attempt has been made to be accurate with my figures.
Sandra Mathewson, CRS, ABR, GRI