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Database Analysis Excellence
Proprietary
Reno/Sparks Association of REALTORS®
April, 2014
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®.
April, 2
014
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
Housing Affordability Index
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 May 5th, 2014.
2
April, 2
014
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– “The acceleration in median price has slowed in comparison to the rapid increase in median price that we saw in
2012 and early 2013,” said Mark Ashworth, 2014 president of the Reno/Sparks Association of REALTORS. “However, the major problem in the market continues to be low inventory of available homes. Buyer demand and low inventory keeps it a seller’s market. For example, Reno has only 3.5 month’s supply of inventory, the lowest level in history. Despite this, it’s still a great time to buy.”
Median Sales Price– April 2014 median price was up 0.9% to $230,000 compared to $227,999 in March 2014 and up 12.2% compared
to $205,000 in April 2013.
– 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– April, 2014 median price on properties with no special conditions was up 1.0% to $242,000 compared to $239,500
in March, 2014 and up 10.0% compared to $220,000 in April, 2013.
– April, 2014 median price on REO (Bank Owned) properties was down -9.9% to $196,000 compared to $217,500 in March, 2014 and up 12.0% compared to $175,000 in April, 2013.
– April, 2014 median price on short sales properties was up 2.4% to $190,000 compared to $185,500 in March, 2014 and up 12.0% compared to $169,700 in April, 2013.
Number of Units Sold– April, 2014 units sold was up 6.1% to 508 compared to 479 in March, 2014 and up 5.2% compared to 483 in April
2013.
Average Days on Market– April, 2014 average days on market was up 0.7% to 106 compared to 105 in March, 2014 and down -20.3%
compared to 133 in April 2013.
3
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014
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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.
Market Report Commentary, continued
Days on Market (DOM) by Special Conditions– Short sale properties had an average days on market of 235.
– Properties with no special conditions had an average days on market of 83.
– REO Properties had an average days on market of 83.
New Listings– April, 2014 new listings was up 1.7% to 662 compared to 651 in March, 2014 and
down -2.6% compared to 680 in April 2013.
– Properties listed at under $250,000 made up 44% of new listings entering the market during the month of April, 2014.
– 13% of new April, 2014 listings were distressed. Short sales 7%; REO 5%; No special conditions 87%; and Other 1%.
Distressed New Listings History– The allocation of new listings by special conditions decreased, representing 12% of
the market in April 2014, down from 14% in March 2014, and 27% in April 2013.
Status of Pending– Pending-No Show represent 30.7% of the total active pendings; Active/Pending-
Loan equals 28.2%; Active/Pending-Short Sale represents 29.5%; Active/Pending-Call 10.0%; and Active/Pending-House 1.6%.
Current Months Supply of Inventory (Unsold Inventory over Sales per Month)
– At the end of April, 2014, there was 3.5 months of unsold inventory based on the monthly sales rate.
4
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014
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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.
Market Report Commentary, continued
Historical Months Supply of Inventory– April, 2014 MSI was down to 3.5 compared to 3.9 in March, 2014 and down from 4.3 in April, 2013.
– 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 Band– Price Bands in a Balance Market are: $1 to $100,000,
– Price Bands in a Buyer's Market are: $500,000 to $750,000, Over $750,000,
– Price Bands in a Seller's Market are: $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,
– 57% of the total sales for April, 2014 were in the under $250,000 price range.
Units and Absorption by Area Group– Area Groups in a Balance Market are: Suburban Southwest, VC Highlands.
– Area Groups in a Buyer's Market are: none
– Area Groups in a Seller's Market are: Metro Southwest, New Southeast, North Valleys, Northwest, Old Southeast, Spanish Springs, Sparks, Washoe Valley, West Suburban.
– Suburban Southwest had the highest level of active inventory with 163 active listings.
– North Valleys had the highest level of pending sales with 164 pendings.
– North Valleys had the highest level of closed sales with 104 closed sales.
Units and Absorption by Condition– The Months Supply of Inventory in the category of Real Estate Owned is at a 2.5 MSI in April, 2014.
– No Special Conditions condition properties has 3.1 MSI, Short Sale properties has 5.5 MSI, and Yes-Other has 0.0 MSI.
Affordability Index, New Report– The chart applies several factors to arrive at a Housing Affordability Index - the median price, Washoe County median income,
5% down payment, the applicable interest rate for a 30 year fixed mortgage and a debt to income ratio of 28%. A value of 100 on the index means that a buyer with the Washoe County median income has adequate income to qualify for a mortgage on a median priced home. You can see that in January 2012, the market was at it’s most affordable, when median price hit a low. With the recent increase in median price and interest rates, the median priced home is less affordable for the Washoe County median income earner.
– The 13 month detail applies the same factors identified above to the past thirteen months. An area with a factor of over 100 would be considered most affordable to the median income earner.
– The index shows at today’s median price the most affordable areas are North Valleys, Old Southeast and Sparks.
5
April, 2
014
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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.
Market Report Commentary, continued
Conclusion– The acceleration in median price has slowed in comparison to the rapid increase in
median price that occurred in 2012 and early 2013.
– April’s unit sales were the 5th highest for an April in history.
– April pending sales were down 8% with 384 compared to 417 in March 2014. Pendingsare a leading indicator of future closed transactions.
– Based upon the Affordability index, which considers median income, down payment, debt to income ratio and current interest rates, the most affordable areas in today’s market are North Valleys, Old Southeast and Sparks.
– The major problem in the market continues to be low inventories of available homes. Buyer demand and low inventory keep the Reno and Fernley areas in a Seller’s market. Reno has 3.5 Month’s Supply of Inventory, the lowest level in history.
– According to the Realtors® Confidence Index, 35 percent of recent mortgages were made with a down payment of 20 percent or more. Moreover, Realtors® reported that because of tight underwriting standards, buyers who pay cash or put down large down payments generally win against those with lower down payments.
– With lending restrictions tighter it may make it difficult for some buyers to enter the market, it’s more important than ever to have finances in order and enough money saved for a down payment. For first-time buyers the most common sources of a down payment are savings and gifts from a relative or friend. Many factors like rising rents and debt make it difficult for consumers to save up for a down payment.
– For those sellers with equity and a willingness to price their home competitively, particularly at the entry level of the market, there is still buyer demand and it’s an excellent time to sell.
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
April, 2
014
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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.
7
Median Sales Price
$2
05
,00
0
$2
18
,00
0
$2
25
,00
0
$2
15
,50
0
$2
20
,00
0
$2
24
,90
0
$2
14
,87
5
$2
24
,90
0
$2
31
,00
0
$2
20
,00
0
$2
35
,00
0
$2
27
,99
9
$2
30
,00
0
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14
Closing Month
Median Sales Price, 13 months
Time Period Change
Prior Month 0.9%
Prior Year 12.2%
April, 2
014
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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.
8
Summary: Median Sales Price
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Apr-06 Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14
Closing Month
Median Sales Price, 8 years
April, 2
014
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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.
Price per Square Foot
9
$136
$80
$90
$100
$110
$120
$130
$140
Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14
Sold Dollars per Square Foot, 5 year History
April, 2
014
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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
April, 2
014
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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.
$220,000
$239,500 $242,000
$175,000
$217,500
$196,000
$169,700
$185,500
$190,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
$280,000
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 1.0% -9.9% 2.4%
Prior Year 10.0% 12.0% 12.0%
April, 2
014
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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.
12
Number of Units Sold
483
541
531
591
638
513 5
38
47
7
492
35
2
387
479
508
300
350
400
450
500
550
600
650
700
Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14
Closing Month
Number of Units Sold, 13 months
Time Period Change
Prior Month 6.1%
Prior Year 5.2%
April, 2
014
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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.
13
Number of Units Sold
100
200
300
400
500
600
700
Apr-06 Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14
Closing Month
Number of Units Sold, 8 years
April, 2
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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.
13
3
109
94
95
98
10
6
96
10
4 11
0
115
11
5
10
5
10
6
80
90
100
110
120
130
140
Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14
Average Days on Market for Solds, 13 months
Days on Market, by Month
14
Time Period Change
Prior Month 0.7%
Prior Year -20.3%
50
70
90
110
130
150
170
Apr-06 Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14
Average Days on Market for Solds, 8 years
April, 2
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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
83
235
83
84
0
50
100
150
200
250
300
Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14
Days 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.
April, 2
014
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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.
680 771
747
674
730
598
642
483
284
514
557 651
662
-
100
200
300
400
500
600
700
800
900
Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14
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
Apr-06 Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14
New Listings by Month, 5 years
Time Period Change
Prior Month 1.7%
Prior Year -2.6%
April, 2
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Data Sourced from NNRMLS. Created by NLS under license for RSAR.
New Listings, by Price and by Special Condition
16
37
105
134
114
126
47
45
38
-
20
40
60
80
100
120
140
160
$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
573
46
34
5
2
-
100
200
300
400
500
600
700
None Short Sale REO Relocation 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.
April, 2
014
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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.
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.
69%
32%
13% 12% 11%6% 4% 7%
11%
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
11 12 14 16 12 82 3 45
25
91
118
102
118
45 4234
0
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
Number of Distressed and NonDistressed New Listings by Price, current month
Distressed
Non-Distressed
18
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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%
Pe
rce
nta
ge
of
Lis
ting
s
Listing Month
New Listings by Special Conditions
None
Other
Short
REO
April, 2
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Data Sourced from NNRMLS. Created by NLS under license for RSAR.
20
Status of Pendings, Current Month
Pending-No
Show
30.7%
Active/Pending
-Short Sale
29.5%
Active/Pending
-Loan
28.2%
Active/Pending
-Call
10.0%
Active/Pending
-House
1.6%
April, 2
014
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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.
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.
877 882
508
0
100
200
300
400
500
600
700
800
900
1000
Nu
mb
er
of
Un
its
All Areas Together
(877 + 882) available / 508 units sold = 3.5 months of inventory
Active Available EOM
Active Pending EOM
Sold during month
April, 2
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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.
4.3
3.9
3.5
2
3
4
5
6
7
8
9
10
11A
pr-0
9
Jun
-09
Aug
-09
Oct
-09
De
c-09
Feb
-10
Apr
-10
Jun
-10
Aug
-10
Oct
-10
De
c-10
Feb
-11
Apr
-11
Jun
-11
Aug
-11
Oct
-11
De
c-11
Feb
-12
Apr
-12
Jun
-12
Aug
-12
Oct
-12
De
c-12
Feb
-13
Apr
-13
Jun
-13
Aug
-13
Oct
-13
De
c-13
Feb
-14
Apr
-14
Month's Supply of Inventory, 5 year history
April, 2
014
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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.
4 15
52
120
122
202
80 89
193
65
117
176
159
132
108
49
53
23
13
51
126
102
79
64
38
19
16
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 month5.3
2.6
1.8
2.7 3.2
4.8
3.4
7.5
13.5
0
2
4
6
8
10
12
14
16
$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
ven
tory
Absorption by Price
23
April, 2
014
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
April, 2
014
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
141
90
82
63
30
158
58
163
22
27 43
85
64
164
128
52
156
104
56
16
16 41 49
36
104
62
26
94
66
33
6
10
22
-
20
40
60
80
100
120
140
160
180
Me
tro
So
uth
we
st
Ne
wS
outh
east
No
rth
Va
lleys
No
rth
west
Old
So
uth
east
Sp
an
ish
Sp
rin
gs
Sp
ark
s
Su
bu
rba
nS
outh
we
st
VC
Hig
hla
nds
Wa
sho
eV
alle
y
We
st
Su
bu
rba
n
Inventory and Units Sold, by Area Group
Active at EOMPending at EOMClosed in Month
4.6
4.3
2.4
3.1 3.2 3.3
2.5
6.6
6.5
4.3
3.8
0
1
2
3
4
5
6
7
Me
tro
Sou
thw
est
New
Sou
thea
st
Nort
h
Valle
ys
Nort
hw
est
Old
Sou
thea
st
Spa
nis
h
Spri
ng
s
Spa
rks
Sub
urb
an
Sou
thw
est
VC
Hig
hla
nd
s
Washo
e
Valle
y
West
Sub
urb
an
Mo
nth
s o
f In
ven
tory
Absorption by Area Group
25
April, 2
014
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.
767
37 53 4
470
35
362
2
399
29 76 00
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
3.1
2.5
5.5
0
1
2
3
4
5
6
None REO Short Sale Yes-Other
Mo
nth
s o
f In
ven
tory
Absorption by Condition
26
April, 2
014
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.
Housing Affordability Index, 5 years
27
The Housing Affordability Index (HAI) as defined by the National Association of Realtors (NAR). A value of 100 means that a purchaser with the median income
has exactly enough income to qualify for a mortgage on a median-priced home. An index of 120 signifies that a purchaser earning the median income has 20%
more income to qualify for a mortgage loan on a median-priced home. An index of 85 signifies that a purchaser has 85% the income required to purchase a
median-priced home. The calculation uses the Washoe County median income, a down payment of 5 percent ,and a qualifying ratio of 28 percent.
80
90
100
110
120
130
140
150
160
Apr
-09
Jun
-09
Aug
-09
Oct
-09
De
c-09
Feb
-10
Apr
-10
Jun
-10
Aug
-10
Oct
-10
De
c-10
Feb
-11
Apr
-11
Jun
-11
Aug
-11
Oct
-11
De
c-11
Feb
-12
Apr
-12
Jun
-12
Aug
-12
Oct
-12
De
c-12
Feb
-13
Apr
-13
Jun
-13
Aug
-13
Oct
-13
De
c-13
Feb
-14
Apr
-14
April, 2
014
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.
Housing Affordability Index, detail
28
56
72
112
85
111
77
111
35
7064
59
20
30
40
50
60
70
80
90
100
110
120
MetroSouthwest
NewSoutheast
NorthValleys
Northwest OldSoutheast
SpanishSprings
Sparks SuburbanSouthwest
VCHighlands
WashoeValley
WestSuburban
80
85
90
95
100
105
Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14