August 2017 Market Report

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“The 2017 year-to-date sales in Fernley have outpaced the prior three years,” said John Graham,. 2017 RSAR president
August 2017 Market Report Area 450, Fernley “The 2017 year-to-date sales in Fernley have outpaced the prior three years,” said John Graham, 2017 RSAR president. “Fernley continues to be an attractive and affordable market for first-time homebuyers.” •

The median price at $233,350 is up 2% from July and up 19% from August 2016.



Fernley’s unit sales at 50 are up 16% from July and level with August 2016.



August new listings at 70 are up 32% from July and up 8% from August 2016.



The Fernley market has 2.1 months supply of inventory, a seller’s market. Effective in March 2017, the Reno/Sparks Association of REALTORS changed its method of calculating Months Supply of Inventory to exclude pending sales.

Conclusions • After a record high unit sales in June, Fernley sales returned to what is average for Fernley – between 38 and 50 sales per month. • Median price has been on the rise since its low of $73,000 in February 2012 to its current high of $233,350. • Properties are remaining on the market an average of 67 days down 15% from August 2016. • Sellers are receiving an average of 99.4% of list price up 1% from August 2016.