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Database Analysis ExcellenceProprietary
Reno/Sparks Association of REALTORS ®
November, 2012Market 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®.
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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 December 10h, 2012
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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– "Although we are experiencing a limited supply of homes for sale, we saw very little change from the number of
homes sold in November in 2012 versus November 2011,” said Kevin Sigstad, 2012 president of Reno/Sparks Association of REALTORS. “We also are continuing to see the demand for homes on the rise as shown in the increase in median home price by 23 percent from November 2011 to the current level of $182,500. The high demand also continues to put pressure on the inventory of available homes for sale.“
� Median Sales Price – November 2012 median price was up .4% to $182,500 compared to $181,750 in October 2012 and up 22.5%
compared to $149,012 in November 2011. – 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 – Median price on properties with no special conditions is up 1.4% from the prior month and up 27.1% from the prior
year.– Median price on REO (Bank Owned) properties is up 11.4% from the prior month up 44.5% from the prior year.– Median price on short sales properties is up 3.3% from the prior month and up 3.7% from the prior year.
� Number of Units Sold – November ended the month with 503 sold transactions, down 5.5% from the prior month and up 1.2% from the
same period last year.
� Average Days on Market– The average days on market are 133 days, down 5.2% from the prior month, and down 9.3% from the
same period last year.
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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 189.– Properties with no special conditions 93 DOM.– REO properties had an average days market of 94.– Properties identified as Other had 145 DOM.
� New Listings– 378 new listings were taken in November compared to 472 in October, a 19.9% decrease from
the prior month and a 25% decrease from the prior year. – Properties listed at under $250,000 made up the 69% of new listings entering the market during
the month of November.– 42% of new November listings were distressed – Short Sales 29%; REO 10%; No special
conditions 57%; and Other 3%.
� Distressed New Listings History – The allocation of new listings by special conditions moved down with the volume of distressed
new listings representing 42% of the market in November, down from 48% in October 2012.– New Listings with no special conditions moved up in volume of listings to 58% of the market.
� Status of Pending– Active Pending – Short Sales represent 59% of the total active pendings; Active Pending Loan
equals 13%; Pending No-show represents 22%; Active Pending call 5.3%; and Active Pending House less than 1%.
� Current Months Supply of Inventory (Unsold Inventor y ÷ Sales per Month) – As of November 30, there was 3.9 months of unsold inventory based on the November sales
rate.
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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 shows that MSI was down in November 2012 at 3.9, and down from 6.4 in
November 2011. – 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– Properties in the price ranges between $500,000 - $750,000 price ranges are in a balanced market. – Properties in the prices ranges under $500,000 have less than 5 month’s supply of inventory and would be
considered seller’s market. – Properties over the $750,000 price range have in excess of 15 month’s supply of inventory.– 71% of the total sales for the month of November were in the under $250,000 price range.
� Units and Absorption by Area Group– Suburban Southwest had the highest level of active inventory with 161 Active listings.– The North Valleys, Northwest, Spanish Springs and Sparks 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. – Metro Southwest and Suburban Southwest are considered a balanced market within 5 – 7 month’s supply of
inventory (MSI). All remaining areas are considered a seller’s market with less than 4.6 MSI.
� Units and Absorption by Condition – The Month’s Supply of Inventory in the category of Real Estate Owned properties remains low at 2.5 MSI in
November 2012.– No Special Conditions condition properties has 3 Month’s Supply of Inventory, Short Sale properties has 5.3
Month’s Supply of Inventory, and Yes-Other 1.3%.
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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– Despite lower inventory levels, sales remain strong. Total year-to-date sales for 2012 are ahead of 2011 by
181 sales. Year to date sales have out-performed the previous year-to-date sales for the past five years.
– New listings are following the trend of summer highs and winter lows. New listings in the month of November are at a record low.
– Short sale inventory reached a balance market in November. With the lack of bank owned properties and some urgency on the part of the seller’s facing the possible expiration of the Mortgage Debt Relief Act, the market is absorbing short sale inventory.
– Fixed-rate mortgages remain near record a low. This serves as an attractive incentive for potential home buyers.
– Freddie Mac reports the following national averages with mortgage rates for the week ending Nov. 29: 30-year fixed-rate mortgages averaged 3.32 percent, with an average 0.8 point, up slightly from a record-breaking 3.31 percent average. A year ago, 30-year rates averaged 4 percent. The 30-year fixed-rate mortgage has averaged below 4 percent for virtually every week in 2012, except for one.
– Realtors and homeowners are encouraged to contact their federal legislators and request that they “do no harm to real estate” by preserving the mortgage interest deduction.
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®.
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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
$149
,012
$155
,000
$135
,000
$145
,500
$149
,900
$151
,100
$164
,750
$170
,000
$165
,000
$175
,000
$175
,000
$181
,750
$182
,500
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
$160,000
$170,000
$180,000
$190,000
Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12
Closing Month
Median Sales Price, 13 months
Time Period Change Prior Month 0.4% Prior Year 22.5%
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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
Nov-04 Nov-05 Nov-06 Nov-07 Nov-08 Nov-09 Nov-10 Nov-11 Nov-12
Closing Month
Median Sales Price, 8 years
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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.
Price per Square Foot
9
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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
Metro
Southwest
New
Southeast
North
Valleys
Northwest Old
Southeast
Spanish
Springs
Sparks Suburban
Southwest
VC
Highlands
Washoe
Valley
West
Suburban
37-48 Months ago
25-36 Months ago
13-24 Months ago
1-12 Months ago
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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.
$175,000
$219,500
$222,500
$128,000
$166,000
$185,000
$149,500 $150,000 $155,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
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 1.4% 11.4% 3.3%
Prior Year 27.1% 44.5% 3.7%
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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
497
534
449 46
5
540
526
524
514
514
533
471
532
503
300
350
400
450
500
550
600
Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12
Closing Month
Number of Units Sold, 13 months
Time Period Change Prior Month -5.5% Prior Year 1.2%
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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
800
Nov-04 Nov-05 Nov-06 Nov-07 Nov-08 Nov-09 Nov-10 Nov-11 Nov-12
Closing Month
Number of Units Sold, 8 years
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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.
146 149
146
132
145
145
143
142
134
123
135 14
0
133
100
110
120
130
140
150
160
Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12
Average Days on Market for Solds, 13 months
Days on Market, by Month
14
Time Period Change Prior Month -5.2% Prior Year -9.3%
50
70
90
110
130
150
170
Nov-04 Nov-05 Nov-06 Nov-07 Nov-08 Nov-09 Nov-10 Nov-11 Nov-12
Average Days on Market for Solds, 8 years
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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
94
189
93
145
0
50
100
150
200
250
Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12
Da
ys o
n M
ark
et
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.
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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.
504
432
579
519
607
598
613 66
3
659
610
549
472
378
300
400
500
600
700
800
Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12
New Listings by Month, 13 months
16
New Listings, by Month
300
500
700
900
1,100
1,300
1,500
1,700
Nov-04 Nov-05 Nov-06 Nov-07 Nov-08 Nov-09 Nov-10 Nov-11 Nov-12
New Listings by Month, 5 years
Time Period Change Prior Month -19.9% Prior Year -25.0%
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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
37
83
83
57
37
38
17
17
3 6
-
10
20
30
40
50
60
70
80
90
$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
$750,000 to$1.0MM
$Over $1.0MM
New Listings, by Price Range
214
111
39
5 5
-
50
100
150
200
250
None Short Sale REO Yes-Other Subject to Court
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.
Nov
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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.
73%
57%
41%33%
27% 26% 29%
18%
0% 0%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
$750,000 to$1.0MM
$Over$1.0MM
Percentage Distressed New Listings by Price, curren t month
Percent Distressed
Market Average
27
47
34
1910 10 5 3 0 0
10
36
4938
27 28
12 143 6
0
50
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
$750,000 to$1.0MM
$Over $1.0MM
Number of Distressed and NonDistressed New Listings by Price, current month
Distressed
Non-Distressed
18
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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.
19
Distressed Listings, as a percentage of all listing s
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%P
erce
ntag
e o
f Li
stin
gs
Listing Month
New Listings by Special Conditions
None
Other
Short
REO
Nov
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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.
20
Status of Pendings, Current Month
Active/Pending-Short Sale
59.4%
Pending-No Show22.2%
Active/Pending-Loan12.5%
Active/Pending-Call5.3%
Active/Pending-House0.6%
Nov
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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.
596
1355
503
0
200
400
600
800
1000
1200
1400
1600
Num
ber
of U
nits
All Areas Together
(596 + 1355) available / 503 units sold = 3.9 month s of inventory
Active Available EOMActive Pending EOMSold during month
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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 8 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.
Nov
embe
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12
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 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.
8 36
51
57
64
86
56
82
48 10
8
21
6
391
28
9
16
1
11
8
84
41
35
15 554 11
5
11
5
74
52
46
22
19 4 2
0
100
200
300
400
500
$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
$750,000 to$1.0MM
$Over $1.0MM
Active and Sold Homes by Price, current month
Active Available EOM
Active Pending EOM
Sold during month
4.1
3.7
3.0
2.9
3.5
3.7
4.4
6.2 15
.8
56.5
0
10
20
30
40
50
60
$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
$750,000 to$1.0MM
$Over $1.0MM
Mon
ths
of I
nven
tory
Absorption by Price
23
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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
116
24
49
37
13 77
24
161
9 36
50
123
100
291
190
72
256
158
86
22
10
47
41
35 10
2
61
19
117
50
36
7 10
25
-
50
100
150
200
250
300
350
Met
roS
outh
wes
t
New
Sou
thea
st
Nor
thV
alle
ys
Nor
thw
est
Old
Sou
thea
st
Spa
nish
Spr
ings
Spa
rks
Sub
urba
nS
outh
wes
t
VC
Hig
hlan
ds
Wa
shoe
Val
ley
We
stS
ubur
ban
Inventory and Units Sold, by Area Group
Active at EOMPending at EOMClosed in Month
5.8
3.5
3.3 3.
7 4.5
2.8 3.
6
6.9
4.4 4.6
3.9
0
1
2
3
4
5
6
7
8
Met
roS
outh
wes
t
New
Sou
thea
st
Nor
thV
alle
ys
Nor
thw
est
Old
Sou
thea
st
Spa
nish
Spr
ings
Spa
rks
Sub
urba
nS
outh
wes
t
VC
Hig
hlan
ds
Was
hoe
Val
ley
Wes
tS
ubur
ban
Mon
ths
of I
nven
tory
Absorption by Area Group
24
Nov
embe
r, 20
12
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.
467
44 73 3272
59
1011
1248
42 204 30
200
400
600
800
1000
1200
None REO Short Sale Yes-Other
Active and Sold Homes by Condition, current monthActive at EOM
Pending at EOM
Closed in Month
3.0
2.5
5.3
1.3
0
1
2
3
4
5
6
None REO Short Sale Yes-Other
Mon
ths
of I
nven
tory
Absorption by Condition
25
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