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Database Analysis Excellence
Proprietary
Reno/Sparks Association of REALTORS®
October, 2013
Market Report
Area 100, Greater Reno/Sparks
This report is designed to assist REALTORS® in analyzing current market conditions and trends. If you are considering
buying or selling real estate, you should discuss this report with a real estate professional, a REALTOR®.
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Outline
Commentary
Median Sales Price – Annualized by Area Group
– By Special Conditions
Number of Units Sold
Days on Market – By Month
– By Special Conditions
New Listings – By Month
– By Price
– By Special Conditions
Distressed Listings – By Price
– As a Percentage of Listings
Status of Pendings
Months Supply of Inventory – Current Month
– Historical 8 year, by Month
Units and Absorption – by Price
– by Area Group
– by Condition
Data Assumptions: – Region defined as Area 100
– Home Type defined as Site/Stick Built
– This data is accurate to the best of the knowledge of Reno/Sparks Association of REALTORS® based on data reported to the NNRMLS as of November 10th, 2013.
2
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Commentary
Summary “As we approach the end of 2013, we are continuing to see a year-over-year increase in the number of traditional existing home sales versus short sale or bank owned home sales,” said Helen Graham, 2013 president of the Reno/Sparks Association of REALTORS. “Despite a limited inventory, a government shut-down and increasing interest rates, total unit sales numbers year to date are tracking slightly ahead of 2012. The median sales price has remained stable for the past five months, which may be due to the beginning of the seasonal softening along with increasing interest rates.”
Median Sales Price – October 2013 median price was down -3.8% to $215,000 compared to $223,500 in September 2013 and up 19.4%
compared to $180,000 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.
Annualized Median Price by Area Group – This chart shows the annualized median price by-area-group year over year. Each vertical bar represents the
median for the prior 12 months of data.
Median Price by Special Conditions – October, 2013 median price on properties with no special conditions was down -8.9% to $225,000 compared to
$247,000 in September, 2013 and up 3.8% compared to $216,800 in October, 2012.
– October, 2013 median price on REO (Bank Owned) properties was up 4.0% to $182,000 compared to $175,000 in September, 2013 and up 9.6% compared to $166,000 in October, 2012.
– October, 2013 median price on short sales properties was down -2.2% to $166,250 compared to $170,000 in September, 2013 and up 10.8% compared to $150,000 in October, 2012.
Number of Units Sold – October, 2013 units sold was up 4.5% to 532 compared to 509 in September, 2013 and down -1.1% compared to
538 in October 2012.
Average Days on Market – October, 2013 average days on market was down -9.1% to 96 compared to 106 in September, 2013 and down -
31.1% compared to 139 in October 2012.
3
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Commentary, continued
Days on Market (DOM) by Special Conditions – Short sale properties had an average days on market of 207.
– Properties with no special conditions had an average days on market of 74.
– REO Properties had an average days on market of 88.
New Listings – October, 2013 new listings was up 6.4% to 631 compared to 593 in September,
2013 and up 33.4% compared to 473 in October 2012.
– Properties listed at under $250,000 made up 54% of new listings entering the market during the month of October, 2013.
– 23% of new October, 2013 listings were distressed. Short sales 17%; REO 5%; No special conditions 77%; and Other 1%.
Distressed New Listings History – The allocation of new listings by special conditions increased, representing 22% of
the market in October 2013, down from 20% in September 2013, and 49% in October 2012.
Status of Pending – Active/Pending-Short Sale represent 41.3% of the total active pendings;
Active/Pending-Loan equals 23.3%; Pending-No Show represents 24.6%; Active/Pending-Call 8.9%; and Active/Pending-House 1.9%.
Current Months Supply of Inventory (Unsold Inventory over Sales per Month)
– At the end of October, 2013, there was 3.8 months of unsold inventory based on the monthly sales rate.
4
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Commentary, continued
Historical Months Supply of Inventory – Historical Months Supply of Inventory (MSI) was down in October, 2013 to 3.8, and down from 4.6 in October,
2012.
– 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 months supply of inventory follows the industry standard of including all pending sales remaining in active status in `the active inventory.
Units and Absorption by Price – No price bands are in a balanced market.
– Properties over $500,000 are a buyer’s market.
– All prices bands below $500,000 have less than 4.9 month’s supply of inventory and would be considered seller’s market.
– 62% of the total sales for the month of October were in the under $250,000 price range.
Units and Absorption by Area Group – Spanish Springs had the highest level of active inventory with 170 Active listings.
– The North Valleys, Northwest, Spanish Springs, and Metro Southwest show the highest level of activity in pending sales for the month.
– The North Valleys, Northwest and Spanish Springs show the highest volume of closed sales for the month.
– Suburban Southwest is considered a balanced markets within 5 – 7 month’s supply of inventory (MSI). Metro Southwest, VC Highlands, and Washoe Valley are a buyer’s market. All remaining areas are considered a seller’s market with less than 4.2 MSI.
Units and Absorption by Condition – The Month’s Supply of Inventory in the category of Real Estate Owned properties remains low at 3.8 MSI in
October, 2013.
– No Special Conditions condition properties has 3.0 MSI, Short Sale properties has 7.4 MSI, and Yes-Other 2.0.
5
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Commentary, continued
Conclusion – After the ramp up in sales during the spring and summer months, October unit sales is down
1.1% from October 2012 and up 4.5% compared to September 2013. With a decline in pending sales last the last three months, along with typical seasonal trends, the decline is not unexpected.
– The median sales price has remained stable for the past five months. This may be due to the beginning of the seasonal softening of median sales price along with increasing interest rates.
– Listings with no special conditions are up 195% from October 2011 and up 52% from October 2012. Traditional home sellers and those investors who were savvy enough to purchase at the bottom of the market now hold the majority of the inventory.
– For the consecutive second month, the sold-to-asking price ratio was below 100%. October sold-to-asking price ratio was at 99.7% compared to September 2013 at 99.5%. Although there is still strong buyer demand, we are not seeing the sales price exceed the list price as was the trend the first eight months of 2013.
– The leadership of the Reno/Sparks Association of Realtors recently attended the National Association of Realtors Annual Conference in San Francisco. Among the topics discussed was the possible extension of the Mortgage Forgiveness Tax Relief Act. According to NAR’s Chief Lobbyist, Jerry Giovaniello, an extension of the Act has only a 20% chance of being enacted. If it is introduced and passed, it most likely will not occur before year end. This will leave many short sale sellers hanging in uncertainty. The good news is that active short sale listings represent only about 17% of the current inventory. The bad news is that pending short sales represents 50% of the market. It’s time to put added pressure on lenders and asset managers to act on these short sales and close before December 31, 2013, when the current bill expires.
This report is designed to assist REALTORS® in analyzing current market conditions and trends. If you are considering buying or selling real estate, you should discuss this report with a real estate professional, a REALTOR®.
6
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
7
Median Sales Price
$180,0
00
$181,0
00
$186,5
00
$181,3
00
$190,1
00
$195,0
00
$205,0
00
$219,0
00
$224,9
50
$215,0
00
$220,0
00
$223,5
00
$215,0
00
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13
Closing Month
Median Sales Price, 13 months
Time Period Change
Prior Month -3.8%
Prior Year 19.4%
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
8
Summary: Median Sales Price
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Oct-05 Oct-06 Oct-07 Oct-08 Oct-09 Oct-10 Oct-11 Oct-12 Oct-13
Closing Month
Median Sales Price, 8 years
Octo
ber,
2013
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and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Price per Square Foot
9
$131
$80
$90
$100
$110
$120
$130
$140
Oct-08 Oct-09 Oct-10 Oct-11 Oct-12 Oct-13
Sold Dollars per Square Foot, 5 year History
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
10
Annualized Median Price by Area Group
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
MetroSouthwest
NewSoutheast
NorthValleys
Northwest OldSoutheast
SpanishSprings
Sparks SuburbanSouthwest
VCHighlands
WashoeValley
WestSuburban
37-48 Months ago
25-36 Months ago
13-24 Months ago
1-12 Months ago
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
$216,800
$247,000
$225,000
$166,000 $175,000 $182,000
$150,000
$170,000 $166,250
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
None
REO
Short
11
Median Sales Price by Special Condition
Distressed listings are defined as follows: REO – property has been foreclosed upon and is being sold by the bank, HUD or VA. Short Sale - seller
owns more for the property than current value.
Time Period Change-None Change-REO Change-Short
Prior Month -8.9% 4.0% -2.2%
Prior Year 3.8% 9.6% 10.8%
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
12
Number of Units Sold
53
8
52
5
49
2
36
0
42
2
49
1
48
1
53
9
53
2
58
7
63
5
50
9 53
2
300
350
400
450
500
550
600
650
700
Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13
Closing Month
Number of Units Sold, 13 months
Time Period Change
Prior Month 4.5%
Prior Year -1.1%
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
13
Number of Units Sold
100
200
300
400
500
600
700
Oct-05 Oct-06 Oct-07 Oct-08 Oct-09 Oct-10 Oct-11 Oct-12 Oct-13
Closing Month
Number of Units Sold, 8 years
Octo
ber,
2013
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and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
139
133 140
139
139
132
133
109
94
95 99 106
96
80
90
100
110
120
130
140
150
Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13
Average Days on Market for Solds, 13 months
Days on Market, by Month
14
Time Period Change
Prior Month -9.1%
Prior Year -31.1%
50
70
90
110
130
150
170
Oct-05 Oct-06 Oct-07 Oct-08 Oct-09 Oct-10 Oct-11 Oct-12 Oct-13
Average Days on Market for Solds, 8 years
Octo
ber,
2013
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granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
15
Days on Market, by Special Conditions
88
207
74
77
0
50
100
150
200
250
Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13
Da
ys
on
Ma
rke
t
Closing Month
Average DOM, 13 Months
REO
Short
None
Other
Distressed listings are defined as follows: REO – property has been foreclosed upon and is being sold by the bank, HUD or VA. Short Sale - seller
owns more for the property than current value.
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
473
393
306 410
482 576 678 769
744
675
730
593
631
-
100
200
300
400
500
600
700
800
900
Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13
New Listings by Month, 13 months
16
New Listings, by Month
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Oct-05 Oct-06 Oct-07 Oct-08 Oct-09 Oct-10 Oct-11 Oct-12 Oct-13
New Listings by Month, 5 years
Time Period Change
Prior Month 6.4%
Prior Year 33.4%
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
New Listings, by Price and by Special Condition
27
67
12
1
12
4
10
1
93
43
32
23
-
20
40
60
80
100
120
140
$1 to$100,000
$100,000 to$150,000
$150,000 to$200,000
$200,000 to$250,000
$250,000 to$300,000
$300,000 to$400,000
$400,000 to$500,000
$500,000 to$750,000
Over $750,000
New Listings, by Price Range
48
3
10
8
31
5
3
1
-
100
200
300
400
500
600
None Short Sale REO Subject to Court Relocation Yes-Other
New Listings, by Special Condition
17
Distressed listings are defined as follows: REO – property has been foreclosed upon and is being sold by the bank, HUD or VA. Short Sale - seller
owns more for the property than current value. Distressed New Listings includes Fannie Mae, Freddie Mac, HUD, and any bank-owned listings.
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Distressed Listings, by Price
Distressed listings are defined as follows: REO – property has been foreclosed upon and is being sold by the bank, HUD or VA. Short Sale - seller
owns more for the property than current value. Distressed New Listings includes Fannie Mae, Freddie Mac, HUD, and any bank-owned listings.
67%
51%
22%27%
17%
5% 5%9%
4%
0%
20%
40%
60%
80%
$1 to$100,000
$100,000 to$150,000
$150,000 to$200,000
$200,000 to$250,000
$250,000 to$300,000
$300,000 to$400,000
$400,000 to$500,000
$500,000 to$750,000
Over $750,000
Percentage Distressed New Listings by Price, current month
Percent Distressed
Market Average
18
3427
33
17
5 2 3 19
33
94 9184 88
41
2922
0
10
20
30
40
50
60
70
80
90
100
$1 to$100,000
$100,000 to$150,000
$150,000 to$200,000
$200,000 to$250,000
$250,000 to$300,000
$300,000 to$400,000
$400,000 to$500,000
$500,000 to$750,000
Over $750,000
Number of Distressed and NonDistressed New Listings by Price, current month
Distressed
Non-Distressed
18
Octo
ber,
2013
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granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
19
Distressed Listings, as a percentage of all listings
Distressed listings are defined as follows: REO – property has been foreclosed upon and is being sold by the bank, HUD or VA. Short Sale - seller
owns more for the property than current value. Distressed New Listings includes Fannie Mae, Freddie Mac, HUD, and any bank-owned listings.
Distressed listing data considered reliable from January 2009 forward.
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Perc
enta
ge o
f Lis
tings
Listing Month
New Listings by Special Conditions
None
Other
Short
REO
Octo
ber,
2013
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granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
20
Status of Pendings, Current Month
Active/Pending-Short Sale
41.3%
Pending-No Show24.6%
Active/Pending-Loan23.3%
Active/Pending-Call8.9%
Active/Pending-House1.9%
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
21
Months Supply of Inventory, Current Month
Unsold Inventory includes Active Pendings. This method of reporting absorption follows the industry standard and includes pendings in Active Inventory.
Absorption or Months Supply of Inventory is defined as the number of months it would take to absorb the units available for sale.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply of inventory.
9641050
532
0
200
400
600
800
1000
1200
Nu
mb
er
of
Un
its
All Areas Together
(964 + 1050) available / 532 units sold = 3.8 months of inventory
Active Available EOM
Active Pending EOM
Sold during month
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
22
Months Supply of Inventory, Historical 5 years
Unsold Inventory includes Active Pendings. This method of reporting absorption follows the industry standard and includes pendings in Active Inventory.
Absorption or Months Supply of Inventory is defined as the number of months it would take to absorb the units available for sale.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply of inventory.
4.64.3
3.8
0
2
4
6
8
10
12
14
16
18
20O
ct-0
8
De
c-08
Feb
-09
Ap
r-0
9
Jun
-09
Au
g-0
9
Oct
-09
De
c-09
Feb
-10
Ap
r-1
0
Jun
-10
Au
g-1
0
Oct
-10
De
c-10
Feb
-11
Ap
r-1
1
Jun
-11
Au
g-1
1
Oct
-11
De
c-11
Feb
-12
Ap
r-1
2
Jun
-12
Au
g-1
2
Oct
-12
De
c-12
Feb
-13
Ap
r-1
3
Jun
-13
Au
g-1
3
Oct
-13
Month's Supply of Inventory, 5 year history
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
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granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Units and Absorption, by Price
“Active” includes “Active/Pending”
Absorption or Months Supply of Inventory is defined as the number of months it would take to absorb the units available for sale.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply of inventory.
16
44
10
9 12
8 15
0
16
0
72 1
05
18
0
81
18
7 21
1
16
7
14
3
14
2
54
40
25
20
82
13
4
96
67
69
29
18
17
0
100
200
300
$1 to$100,000
$100,000 to$150,000
$150,000 to$200,000
$200,000 to$250,000
$250,000 to$300,000
$300,000 to$400,000
$400,000 to$500,000
$500,000 to$750,000
Over $750,000
Active and Sold Homes by Price, current month
Active Available EOM
Active Pending EOM
Sold during month4.9
2.8
2.4 3.1
4.4
4.4
4.3
8.1
12.1
0
2
4
6
8
10
12
14
$1 to$100,000
$100,000 to$150,000
$150,000 to$200,000
$200,000 to$250,000
$250,000 to$300,000
$300,000 to$400,000
$400,000 to$500,000
$500,000 to$750,000
Over $750,000
Mo
nth
s o
f In
ve
nto
ry
Absorption by Price
23
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Reno/Sparks Area Map
24
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Units and Absorption, by Area Group
15
9
56
10
8
85
36
17
0
71
15
8
22
37
60
11
1
92
21
6
12
1
51
21
2
10
8
77
13
13
36
36
42
10
0
73
42
93
70
42
5
6
23
-
50
100
150
200
250
Metr
o
Sou
thw
est
New
Sou
theast
Nort
h
Valle
ys
Nort
hw
est
Old
Sou
theast
Spa
nis
h
Spri
ngs
Spa
rks
Sub
urb
an
Sou
thw
est
VC
Hig
hla
nds
Wa
shoe
Valle
y
We
st
Sub
urb
an
Inventory and Units Sold, by Area Group
Active at EOM
Pending at EOM
Closed in Month
7.5
3.5
3.2
2.8
2.1
4.1
2.6
5.6
7.2
8.3
4.2
0
1
2
3
4
5
6
7
8
9
Metro
South
west
New
South
east
North
Valle
ys
Northw
est
Old
South
east
Spanis
hS
prings
Spark
s
Suburb
an
South
west
VC
Hig
hla
nds
Wash
oe
Valle
y
West
Suburb
an
Mo
nth
s o
f In
ve
nto
ry
Absorption by Area Group
25
Octo
ber,
2013
Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce
and redistribute this copyrighted report. No other reprint or distribution of this report is
granted unless specifically approved in writing by the Reno/Sparks Association of
Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net.
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Units and Absorption, by Special Condition
Distressed listings are defined as follows: REO – property has been foreclosed upon and is being sold by the bank, HUD or VA. Short Sale - seller owns
more for the property than current value.
“Active” includes “Active/Pending”
Absorption or Months Supply of Inventory is defined as the number of months it would take to absorb the units available for sale.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply of inventory.
810
42 101 1
456
37
537
1
416
21 86 10
100
200
300
400
500
600
700
800
900
None REO Short Sale Yes-Other
Active and Sold Homes by Condition, current month
Active at EOM
Pending at EOM
Closed in Month
3.0
3.8
7.4
2.0
0
1
2
3
4
5
6
7
8
None REO Short Sale Yes-Other
Mo
nth
s o
f In
ve
nto
ry
Absorption by Condition
26
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