Database Analysis Excellence
Proprietary
Reno/Sparks Association of REALTORS®
February 2015
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®.
Febru
ary
, 2015
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 [email protected].
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 March 8h, 2015.
2
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Commentary
Summary– “Homeowners have historically remained in their homes an average of six to seven years,
however in 2014, research showed that time has increased to 10 years,” said Dave Hansen, 2015 president RSAR. “This has created a lack of inventory on the market for existing-home sales. However, the National Association of REALTORS® believes 2015 could be the year some homeowners move out and move up. Many would-be sellers have stayed put because they are nervous about leaving their low interest mortgage rates. They also have been waiting for a spike in the value of their homes. Nationally home values have risen 25 percent over the past three years on average, meaning pent-up sellers are in a better position to put their place on the market. Locally, we have seen a faster recovery in home values.”
Median Sales Price– February 2015 median price was up 5.2% to $265,000 compared to $252,000 in January 2015
and up 13.5% compared to $233,500 in February 2014.
– 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– February, 2015 median price on properties with no special conditions was up 1.9% to $274,995
compared to $270,000 in January, 2015 and up 9.0% compared to $252,365 in February, 2014.
– February, 2015 median price on REO (Bank Owned) properties was down -7.6% to $185,750 compared to $201,000 in January, 2015 and up 16.1% compared to $160,000 in February, 2014.
– February, 2015 median price on short sales properties was up 29.9% to $252,600 compared to $194,500 in January, 2015 and up 48.6% compared to $170,000 in February, 2014.
3
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Commentary, continued
Number of Units Sold– February, 2015 units sold was up 5.5% to 383 compared to 363 in January, 2015 and down -
1.3% compared to 388 in February 2014.
Average Days on Market– February, 2015 average Days On Market was down -13% to 109 compared to 126 in January,
2015 and down -5% compared to 115 in February 2014.
Days on Market (DOM) by Special Conditions– Short sale properties had an average days on market of 280.
– Properties with no special conditions had an average days on market of 96.
– REO Properties had an average days on market of 94.
New Listings– February, 2015 new listings was up 17.6% to 509 compared to 433 in January, 2015 and down -
8.8% compared to 558 in February 2014.
– Properties listed at under $250,000 made up 36% of new listings entering the market during the month of February, 2015.
– 12% of new February, 2015 listings were distressed. Short sales 4%; REO 6%; No special conditions 88%; and Other 2%.
Distressed New Listings History– The allocation of new listings by special conditions decreased, representing 10% of the market
in February 2015, down from 13% in January 2015, and down from 20% in February 2014.
Status of Pending– Active/Pending-Loan represent 37.6% of the total active pendings; Active/Pending-Short Sale
equals 17.9%; Pending-No Show represents 27.5%; Active/Pending-Call 13.0%; and Active/Pending-House 4.1%.
Current Months Supply of Inventory (Unsold Inventory over Sales per Month)– At the end of February, 2015, there was 3.6 months of unsold inventory based on the monthly
sales rate.
4
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Commentary, continued
Historical Months Supply of Inventory– February, 2015 MSI was down to 3.6 compared to 4.1 in January, 2015 and down from 5.0 in February, 2014.
– 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: $500,000 to $750,000.
– Price Bands in a Buyer's Market are: Over $750,000.
– Price Bands in a Seller's Market are: $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.
– 42% of the total sales for February, 2015 were in the under $250,000 price range.
Units and Absorption by Area Group– Area Groups in a Balance Market are: Metro Southwest.
– Area Groups in a Buyer's Market are: Suburban Southwest, VC Highlands, Washoe Valley, West Suburban.
– Area Groups in a Seller's Market are: New Southeast, North Valleys, Northwest, Old Southeast, Spanish Springs, Sparks.
– Suburban Southwest had the highest level of active inventory with 145 active listings.
– Spanish Springs had the highest level of pending sales with 199 pendings.
– Spanish Springs had the highest level of closed sales with 86 closed sales.
Units and Absorption by Condition– The Months Supply of Inventory in the category of Real Estate Owned is at a 2.8 MSI in February, 2015.
– No Special Conditions condition properties has 3.3 MSI, Short Sale properties has 7.8 MSI, and Yes-Other has 0.0 MSI.
Affordability Index– 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 100would 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
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Market Report Commentary, continued
Conclusion– The February 2015 median price was up 5.2% to $265,000, and up 14% compared to
February 2014. Since the bottom of the market in January 2012, values have risen 96%. From the peak of the market in January 2006, values are off 27.4%.
– February unit sales at 383 are up 6% from January and down 1.3% from February 2014. The February increase in sales follows the trend we have seen seven of the past eight years - although the number of sales February over January have been shrinking the last three years.
– It’s interesting to note that 75% of new listings taken in January are currently either sold or have a pending sale. A sign to potential buyers that properties are not remaining on the market long, and a sign to sellers, that homes priced right are moving quickly. February days on market was 109 and historically declines through Spring and Summer.
– February new pending sales, a leading indicator of closed transaction, are up 6% from January 2015.
– The Reno market has remained consistently in a seller’s market for 26 of the past 28 months.
– Interest rates are expected to remain at historical lows until mid-year. They are predicted to climb to approximately 5% by year end.
– For those sellers who have equity as a result of the increase in property values and are ready to relocate, move up or down-size, the time may be right to talk to a REALTOR®.
This report is designed to assist REALTORS® in analyzing current market conditions and trends. If you are considering buying orselling real estate, you should discuss this report with a real estate professional, a REALTOR®.
6
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
7
Median Sales Price
$2
33
,50
0
$2
27
,99
9
$2
30
,00
0
$2
40
,00
0
$2
50
,00
0
$2
49
,95
0
$2
50
,00
0
$2
39
,00
0 $2
60
,00
0
$2
60
,00
0
$2
61
,99
5
$2
52
,00
0
$2
65
,00
0
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
$270,000
$290,000
Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15
Closing Month
Median Sales Price, 13 months
Time Period Change
Prior Month 5.2%
Prior Year 13.5%
Febru
ary
, 2015
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 [email protected].
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
Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15
Closing Month
Median Sales Price, 8 years
Febru
ary
, 2015
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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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Price per Square Foot
9
$145
$80
$90
$100
$110
$120
$130
$140
$150
Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15
Sold Dollars per Square Foot, 5 year History
Febru
ary
, 2015
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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 [email protected].
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
Febru
ary
, 2015
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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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
$252,365 $270,000
$274,995
$160,000
$201,000
$185,750
$170,000
$194,500
$252,600
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
$280,000
$300,000
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 1.9% -7.6% 29.9%
Prior Year 9.0% 16.1% 48.6%
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
12
Number of Units Sold
388
483
535
54
6 56
5
530
578
507
490
47
4
51
8
363 383
200
250
300
350
400
450
500
550
600
Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15
Closing Month
Number of Units Sold, 13 months Time Period Change
Prior Month 5.5%
Prior Year -1.3%
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
13
Number of Units Sold
100
200
300
400
500
600
700
Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15
Closing Month
Number of Units Sold, 8 years
Febru
ary
, 2015
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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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
11
5
10
5
107
101
89
94
84
97
95
97
11
1
12
6
10
9
70
80
90
100
110
120
130
Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15
Average Days on Market for Solds, 13 months
Days on Market, by Month
14
Time Period Change
Prior Month -13.1%
Prior Year -4.8%
50
70
90
110
130
150
170
Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15
Average Days on Market for Solds, 8 years
Febru
ary
, 2015
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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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
15
Days on Market, by Special Conditions
94
280
96
132
0
50
100
150
200
250
300
350
Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15
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.
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
558 661
684 773
720
784
666
569
523
383
288
433 509
-
100
200
300
400
500
600
700
800
900
Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15
New Listings by Month, 13 months
16
New Listings, by Month
-
200
400
600
800
1,000
1,200
1,400
Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15
New Listings by Month, 5 years
Time Period Change
Prior Month 17.6%
Prior Year -8.8%
Febru
ary
, 2015
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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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
New Listings, by Price and by Special Condition
4
17
67
95
98 1
17
37
40
34
-
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
448
29
22
7
3
-
-
50
100
150
200
250
300
350
400
450
500
None REO Short Sale 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.
Febru
ary
, 2015
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 [email protected].
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.
75%
29%
18%
6% 9% 6%14%
8%3%
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
3 512
6 9 7 5 3 1112
55
89 89
110
32 37 33
0
20
40
60
80
100
120
$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
Febru
ary
, 2015
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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 [email protected].
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
Febru
ary
, 2015
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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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
20
Status of Pendings, Current Month
Active/Pending
-Loan
37.6%
Pending-No
Show
27.5%
Active/Pending
-Short Sale
17.9%
Active/Pending
-Call
13.0%
Active/Pending
-House
4.1%
Febru
ary
, 2015
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 [email protected].
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.
554
835
383
0
100
200
300
400
500
600
700
800
900
Nu
mb
er
of
Un
its
All Areas Together
(554 + 835) available / 383 units sold = 3.6 months of inventory
Active Available EOM
Active Pending EOM
Sold during month
Febru
ary
, 2015
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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 [email protected].
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.
5.4.1
3.6
2
3
4
5
6
7
8
9
10
11Fe
b-1
0
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
Jun
-14
Aug
-14
Oct
-14
De
c-14
Feb
-15
Month's Supply of Inventory, 5 year history
Febru
ary
, 2015
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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 [email protected].
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.
1 9 20
30
52
108
56
93
185
14 4
3
144
179
157
162
55
50
31
4 18
61
79 83 85
27
22
4
0
100
200
$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 month3.8
2.9
2.7
2.6
2.5
3.2
4.1
6.5
54.0
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
Over $750,000
Mo
nth
s o
f In
ven
tory
Absorption by Price
23
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Reno/Sparks Area Map
24
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Units and Absorption, by Area Group
101
35
49
32
10 6
9
28
145
14
28
42
85
62
136
106
27
199
94
59
20
14
33
36
46 64
47
29
86
37
22
2
4
10
-
50
100
150
200
250
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
5.2
2.1
2.9
2.9
1.3
3.1
3.3
9.3
17.5
10.5
7.6
0
2
4
6
8
10
12
14
16
18
20
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
Febru
ary
, 2015
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 [email protected].
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.
501
21 20 2
566
52
191
1
322
26 27 00
100
200
300
400
500
600
None REO Short Sale Yes-Other
Active and Sold Homes by Condition, current month
Active at EOM
Pending at EOM
Closed in Month
3.3
2.8
7.8
0
1
2
3
4
5
6
7
8
9
None REO Short Sale Yes-Other
Mo
nth
s o
f In
ven
tory
Absorption by Condition
26
Febru
ary
, 2015
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 [email protected].
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.
70
80
90
100
110
120
130
140
150
160
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
Jun
-14
Aug
-14
Oct
-14
De
c-14
Feb
-15
Febru
ary
, 2015
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 [email protected].
Data Sourced from NNRMLS. Created by NLS under license for RSAR.
Housing Affordability Index, detail
28
50
62
100
84 87
72
86
45
80
52
42
20
30
40
50
60
70
80
90
100
110
MetroSouthwest
NewSoutheast
NorthValleys
Northwest OldSoutheast
SpanishSprings
Sparks SuburbanSouthwest
VCHighlands
WashoeValley
WestSuburban
75
77
79
81
83
85
87
89
Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15