In the Reno/Sparks areas, February saw a slight gain in sale, up 8% from January for single-family homes and a decrease in condos of 4%. Active inventory for homes was up 30% with condos actives down 6%. The February 2014 median price was up 6.8% to $235,000 compared to $220,000 in January and up 23.6% compared to $190,100 in February of 2013. The median price for condos was up 2% since January. With single-family home prices and active listings up, buyers need to act quicker than they have in the recent past in order to stay on top of the market’s tight inventory.
Truckee/No. Lake Tahoe Market
The median sales price for single family homes increased by 48% over February 2013; for condos/townhomes, that increase was 40%. Average number of days on the market for homes decreased by 76, from 169 in 2013 versus 93 days in February of 2014; for condos/townhomes, the decrease was approx. 1 month, from 172 days in 2013 to 145 in 2014. The average price per square foot for homes increased from $315 in 2013 to $352 in 2014 whereas condos/townhomes dropped slightly from $408 in February 2013 to $386 in February 2014.
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