Reno Sparks sales numbers for the first 6 months

So we’re half way through 08 and it’s hard to believe it is already July!  I wanted to see how the Reno Sparks real estate market is doing so far this year compared years past. I pulled sales numbers for January thru June from 1997-2008. Included are residential properties (condos, mobiles, stick built, etc..) in the greater Reno/Sparks area.  Once I pulled the sales numbers, I got curious about the inventory numbers. So I pulled the inventory numbers with the same criteria with the exception of the year. I could only pull inventory for 2000-2008.

Year                 Sales                Inventory

1997                1677                

1998                1825   

1999                2054   

2000                2650                6385

2001                2952                6063

2002                3096                6270

2003                3413                6666   

2004                4023                6866

2005                4694                9172

2006                3113                14065 

2007                2775                12333 

2008                1854                4821

The bad news is we are at ten year lows for sales. The good news is inventory is at least at a 8 year low. If you look at 06 and 07 you can see why prices were dropping. Sales dropped significantly and inventory skyrocketed. The gap was huge. While I hate to see sales down, I feel much better that inventory is dropping back to a reasonable level. The only stat I would love to see is new construction. Most builders do not put their homes in MLS so I will have to do some more research.

Data was collected from the Northern Nevada MLS. Disclaimer required by MLS: While data is deemed reliable, no warranty for accuracy is implied.  Data may not include all sales activity. Sales were made by all participants of MLS.