As February comes to close the sales data definitely reflects that the market has changed. The Reno-Sparks market has experienced a 27% increase in median sales price year over year. The number of non-distressed sales increased to 48.34% of the overall sales in February. These non-distressed sales saw a 30% increase in median price year over year. Short sales are on the rise and REO (bank owned) sales saw a steep decrease in numbers. These trends are similar to those seen when looking just at Reno or Sparks separately. The actual number of single family homes sold this February is down about 15.48% from last year. This is due to a decline in available homes for sale. As of today there are only 477 single family homes for sale in the Reno-Sparks market. Of that only 79 of those are priced at or below the median price of $185,000. These conditions continue to favor sellers, for how long is anyone’s guess.
| Reno-Sparks | Median 2013 | Median 2012 | % | % of Sales | |||
| Overall Market | $185,000.00 | $145,500.00 | 27% | 2013 | 2012 | ||
| No Conditions | $240,000.00 | $183,950.00 | 30% | 48.34% | 29.24% | 19.10% | |
| Short Sale | $155,000.00 | $145,000.00 | 7% | 36.64% | 27.95% | 8.69% | |
| REO | $153,000.00 | $123,000.00 | 24% | 12.97% | 41.93% | -28.96% | |
| Reno Only | Median 2013 | Median 2012 | % | % of Sales | |||
| Overall Market | $192,900.00 | $150,000.00 | 29% | 2013 | 2012 | ||
| No Conditions | $251,185.00 | $205,000.00 | 23% | 49.08% | 27.65% | 21.43% | |
| Short Sale | $152,750.00 | $146,000.00 | 5% | 35.89% | 27.65% | 8.24% | |
| REO | $149,900.00 | $112,675.00 | 33% | 12.82% | 43.76% | -30.94% | |
| Sparks Only | Median 2013 | Median 2012 | % | % of Sales | |||
| Overall Market | $182,400.00 | $145,000.00 | 26% | 2013 | 2012 | ||
| No Conditions | $214,000.00 | $159,500.00 | 34% | 46.66% | 33.08% | 13.58% | |
| Short Sale | $163,300.00 | $145,000.00 | 13% | 38.33% | 28.67% | 9.66% | |
| REO | $154,000.00 | $137,000.00 | 12% | 13.33% | 37.50% | -24.17% |
(Source: Northern Nevada Regional MLS)
