FALLON CHURCHILL COUNTY, NEVADA RESIDENTIAL REAL ESTATE TRACKING REPORT 1st QUARTER 2016 BOB GETTO, C.R.S. & S.F.R. Nevada real estate broker, Lic # 16039 Council of Residential Specialists certified, National Assoc. of Realtors Short Sale / Foreclosure Resource certified, National Assoc. of Realtors 775-423-5400 (O) 775-423-1728 (F) bobgetto@cccomm.net DISCLAIMER: This content has been prepared by Bob Getto of Ferguson & Getto Inc., based on independent research of the N.N.R.M.L.S. It is deemed reliable, but is not guaranteed. This information is not intended to be utilized as the sole decision, to buy, or sell real estate. This content is for the exclusive use of the recipient, and the recipient agrees not to disseminate the content without the prior written authorization of Bob Getto. 310 W. Williams Ave., Suite C, Fallon, NV 89406 Office: 775-423-5400 Fax: 775-423-1728 www.bobgetto.com
REPORT OUTLINE and SUMMARY 1: Quarterly Sold Units General Real Estate by Category: This pie chart shows the total number of general real estate units sold, this quarter. This quarter ended with 91 general sales, a 28% increase in unit volume as compared to the 1 st Quarter 2015. 2: Quarterly Sold Units - Residential: This graph shows the total number of residential real estate units sold, on a quarterly basis. This quarter ended with 58 residential sales, a 23% increase in unit volume as compared to the 1 st Quarter 2015. 3: Quarterly Sold Units by Median Sales Price - Residential: This graph shows the median sales price of residential real estate units, on a quarterly basis. This quarter ended with a median sales price $145,950, for the quarter, a 6% decrease in dollar volume as compared to the 1 st Quarter 2015. 4: Quarterly Sold Units; Short Sales and Foreclosures Short Sale properties are those in which the Owners may be in default on their residential real estate loan, or in which default may be imminent. Foreclosures are those residential properties in which the Owners have lost the property to Bank/Lender and the properties are now Bank Owned. Together, Short Sales and Bank Owned properties are known as distressed properties. This chart shows the quarterly relationship between the numbers of residential properties sold, that were distressed, as compared to those sold in a traditional scenario. Of the 58 residential sales 20% of the residential sales were those in which the Seller was a distressed Seller, or the Seller was a Bank/Lender. 5: Quarterly Days on the Market. - Residential: This graph shows the median days on the market of residential real estate, on a quarterly basis. 6: Quarterly Method of Purchasing - Residential: This chart demonstrates the type of financing Buyers used to purchase local residential real estate, on a quarterly basis. Approximately 83% of the Buyers purchased properties by originating a loan; 17% of the Buyers purchased with cash. 310 W. Williams Ave., Suite C, Fallon, NV 89406 Office: 775-423-5400 Fax: 775-423-1728 www.bobgetto.com
7: Quarterly Price per Sq. Ft. Residential History: This graph shows the median sales price per square foot, of residential real estate units, on a quarterly basis. Q4 2015 ended with a median price per square foot of approximately $97. This includes the value of the home site! 8: Quarterly Price/Sq. Ft. - Residential Comparison: This chart reports on the total number of home sales in the last three months, by price per square foot. There have been 58 residential sales. 55% of the homes sold were under $100 per square foot of living space. This includes the value of the home site. 45% of the homes sold were over the $100 per square foot barrier. 9: Active Listings with Pending Sales - Residential: This chart measures the number of active listings for sale within the local market area in conjunction with the number of those active listings that have an accepted contract on them. This chart demonstrates to the reader the strength of Buyer activity. Currently, within area code 89406, there are 96 residential properties, offered for sale via Multiple Listing Service; Approximately 52% of the active residential listings are under contract with potential Buyers. 10: Active Listings; Short Sales and Foreclosures Short Sale properties are those in which the Owners may be in default on their residential real estate loan, or in which default may be imminent. Foreclosures are those residential properties in which the Owners have lost the property to Bank/Lender and the properties are now Bank Owned. Together, Short Sales and Bank Owned properties are known as distressed properties. This chart measures the number of active listings for sale within the local market area and demonstrates the relationship of traditional Owners when compared to Distresses Owners (properties in which the Owners are in or near default, and, properties which are Bank Owned.) Currently, within area code 89406, there are 96 residential properties, offered for sale via Multiple Listing Service; 10% of the active residential listings are considered distressed. 310 W. Williams Ave., Suite C, Fallon, NV 89406 Office: 775-423-5400 Fax: 775-423-1728 www.bobgetto.com
11: Residential Absorption Rate: The absorption rate is the number of month s supply of unsold inventory within the local real estate market. o The National Association of describes a balanced market as between 5 and 7 months supply of inventory. o There is a 4.7 months supply of homes on the market when calculating the units for sale that are solely active. o Currently there is a 2.2 months supply of homes on the market when calculating the units for sale that are active and active pending. 12: Historic Residential Comparison Chart: This chart comparts the actual number of residential units sold this month, with the historic median number residential units sold compiled from data since January of 2011. DISCLAIMER: This content has been prepared by Bob Getto of Ferguson & Getto Inc., based on independent research of the N.N.R.M.L.S. It is deemed reliable, but is not guaranteed. This information is not intended to be utilized as the sole decision, to buy, or sell real estate. This content is for the exclusive use of the recipient, and the recipient agrees not to disseminate the content without the prior written authorization of Bob Getto. 310 W. Williams Ave., Suite C, Fallon, NV 89406 Office: 775-423-5400 Fax: 775-423-1728 www.bobgetto.com
Total Real Estate Units Sold by Category within Fallon & Churchill County Farm / Ranch Units, 1, 1% Vacant Land Units, 7, 8% Commercial Units, 0, 0% Multi Family Units, 0, 0% Residential Units, 83, 91% 1st Qrt 2016; 91 total sales (Residential Site Built, Residential Manufactured, Vacant Land, Multi Family, *SOLD via Participation Prepared by Bob Getto 4/9/2016
Quarterly Sold Units Residential 5 Year History (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada 80 70 60 50 40 33 40 44 40 42 49 60 51 57 39 47 35 58 56 48 47 59 61 65 58 30 27 20 The 1st Quarter of 2016 produced 58 residential sales. There are about 60 Realtors based within Churchill County 10 Q1 2011 2012 2013 2014 2015 2016 *SOLD via
Quarterly Median Residential Sales Price 5 Year History (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada) $325,000 Fallon Median Sales Price Reno Median Sales Price Fernley Median Sales Price $300,000 $275,000 $250,000 $225,000 $200,000 $175,000 $155,000 $150,000 $125,000 $145,950 $100,000 $75,000 Fallon / Churchill Co.; 1st Qrt. 2016; the median sales price is $145,950 $50,000 Q1 2011 2012 2013 2014 2015 2016 Participation
70 Quartley Sold Residential Units; Short Sales & Forclosures (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada Distressed Residential Units Sold Traditional Residential Units Sold 60 50 40 30 20 10 0 29 20 34 13 29 41 43 44 50 47 47 33 35 26 17 41 14 29 29 31 22 23 18 17 13 13 12 15 16 17 15 9 11 6 Q1 2012 2013 2014 2015 2016
Average Days on the Market Residential 5 Year History (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada) 240 220 200 200 180 160 140 120 156 172 125 160 160 133 158 169 150 160 128 144 138 140 120 112 114 116 138 100 92 80 60 Q1 2011 2012 2013 2014 2015 2016
Residential Seller Finance, 0, 0% Residential Other Finance, 6, 10% Residential Cash, 10, 17% Residential VA, 14, 24% 1st Qrt 2016; 58 residential sales sold Residential Conventional, 19, 33% Residential FHA, 9, 16% Participation Prepared by Bob Getto 4/9/2016
Median Price Per Square Foot of Living Area Residential 5 Year History (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada) $210 $200 $190 $180 $170 $160 $150 $140 $130 $120 $110 $100 $90 $80 $70 $60 $50 $40 Q1 2011 Fallon Price Per Sq. Ft. Reno Price Per Sq. Ft. Fernley Price Per Sq. Ft. Poly. (Fallon Price Per Sq. Ft.) 2012 2013 Fallon / Churchill Co.; 1st Qrt. 2016; the median price per square foot is $97 2014 2015 $162 $111 $97 2016
Price per Square Foot Comparison (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada) for the last period of three months 16 14 14 15 12 10 8 6 6 10 8 Median price per sq. ft. for this period is $97 4 2 0 2 3 0 0 0 0 0 $240 + $220 $239 $200 $219 $180 $199 $160 $179 $140 $159 $120 $139 $100 $119 $80 $99 $60 $79 $40 $59 $0 $39
Active Listings with Pending Sales (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada) # of Actives Listings # of Active Listings w/ Pendings Sales 120 100 80 60 35 47 48 38 38 42 31 34 37 35 30 32 41 47 44 39 40 37 40 37 41 32 31 40 50 40 20 62 55 59 62 57 54 60 55 55 51 45 51 44 43 47 58 65 68 61 71 61 56 56 53 46 0
Active Listings; Short Sales & Forclosures (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada) 120 # of Active Listing that are Distressed # of Active Listings that are Traditional 100 80 60 61 63 68 73 68 63 58 57 62 60 52 59 60 69 68 75 82 83 78 89 82 73 71 79 86 40 20 0 36 39 39 27 27 33 33 32 30 26 23 24 25 21 23 22 23 22 23 19 20 15 16 14 10 Mar 14 Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16
Monthly Residential Absorption Rate Un Sold Inventory (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada) The National Association of describes a balanced market as between 5 and 6 months of unsold residential inventory. 6.5 6.0 5.5 5.2 5.0 4.9 4.5 4.0 3.5 3.0 2.5 2.5 2.5 2.0 5.4 2.8 5.6 3.3 6.2 3.8 6.1 5.9 5.6 Absorption Rate w/ Active / Pendings Absorption Rate w/o Active / Pendings 3.9 3.9 3.4 5.5 3.3 4.6 4.4 2.9 2.8 4.6 4.7 2.6 2.2 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Inventory Available; measured in months
Residential Monthly Comparisons (on typical homesites, less than 1.99 acres, within Fallon & Churchill County Nevada) 30 25 20 19 20 19 21 19 15 15 15 17 17 16 15 17 10 12 12 12 5 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2016 Units Sold 5 Year Historic Median No. of Units Sold Ferguson Getto Inc.