The Center For Regional Studies has finished re-uploading all of the corrected home sales and foreclosure data to its website, and comparisons with previous year’s data aren’t flattering. New single family home sales, in particular, suffered through a horrible year in Washoe County with a sales rate of just 1/4 of its “normal” pace. The median sales price of new single family homes slipped another 11% in 2010 to just $221,450 — a 48% decline from the market’s peak. Existing single family home sales managed to increase 2.8% in 2010 while the median sales price dropped another 7% to $171,900, largely a result of short sales and bank owned homes flooding the market. With the “distressed” market losing steam, though, it will be interesting to see how the numbers shape up in early 2011.
Interestingly, existing condo sales were a bright spot in 2010 with nearly1,300 unit sales during the year — a 38% increase from 2009 and...
The Center for Regional Studies serves the State of Nevada with data and market analyses designed to help a business select a location for operations, understand current market trends, and predict where the local economy is headed.
