Summary The Fernley median price is currently at 2001 levels.  In 2001, interest rates were 6.97% compared to today's average interest rate of 3.54 percent, which for the current median price saves home buyers $228 per month with 5 percent down on a 30 year fixed loan.  With low inventory levels we anticipate this trend to continue at least through the end of the year. Fernley Median Home Sales Price May 2013 median price was up 3.3% to $113,500 compared to $109,890 in April 2013 and up 26.1% compared … [Read more...]

Summary With the volume of sales and pending sales, we have been depleting the available existing inventory.  It is normal to see a downturn in home sales after the school year starts, but the drop in sales is also impacted by the low inventory. Fernley Homes Median Sales Price September 2012 median price increased 9% to $97,000 compared to $89,000 in August 2012. The median price is up 12.9% from the prior September. Median price is defined as the mid-point, where, for the time period identified, … [Read more...]