Reno/Sparks Market Stats for November 2015 (Video)

Thanks to the Reno/Sparks Association of Realtors for the updated stats.

They added an affordability index which is pretty cool. 

You can view the full report in the video below….

Here’s an overview with commentary….

  • The median price rose 4% to $292,000. Up 12% from last November and 4% from October. A quick turnaround after 3 months of depreciation. I think December will go down a little then we’ll start inching up in the spring. 
  • The number of sales dropped sharply to 419. Down 22% from October and 12% from last November. Pretty typical of the time of year but a little more of a drop because sellers and buyers are having a tough time finding middle ground on pricing.
  • New listing were down 29% from October and up 25 from November of last year. Again, pretty normal of the time of year. 
  • The months supply of inventory or the amount of time to close every house on the market without any new ones popping up is at 3.8 months. A typical market is 5-7 months so inventory wise it’s still a seller’s market. 

Overall, sellers will need to start reducing price to get offers even with the short inventory. Buyers have become more patient and are willing to wait.

 


To search for homes visit RickyBeach.com

To get your home’s value visit HomeValuesOfReno.com

To stay up to date on your neighborhood visit RenoSnapShot.com.

If you have any specific questions email me at Ricky@RickyBeach.com

Ricky Beach

Broker/Salesman


Keller Williams Group One Inc.

10539 Professional Circle., #100

Reno, NV 89521

Office: (775) 393-9601
Cell: (775) 750-1437
Email: Ricky@RickyBeach.com
Website:www.RickyBeach.com

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Reno/Sparks Real Estate Stats for October 2015 (Video)

Thanks to RSAR for the updated stats for October 2015.

You can view the whole report by clicking the picture to the right or through here… November 2015 Reno/Sparks Real Estate Stats

Below is an overview with thoughts…

  • The median sales price fell from $285,000 in September to $280,000 in October. Up 7.7% from October of last year. I felt this would happen at some point. We were on an unsustainable climb so it’s nice to see it settle. Plan on the market going up and down +/- 3-4% each month until the spring of 2016. 
  • Homes sold were down 7.7% from September but up 8% from last October. Pretty normal for the time of year. Watch for a real slow down from two weeks before Christmas until two weeks after New Years. That slowdown will show up in the late January and early February numbers. 
  • New listings dropped 12.5% from September but were up 5.5% from last October. See note above. 
  • The price per sqft has stayed much the same. Only down .6% from September but up 11.8% from last October. This shows that there’s still plenty of stability even though the median sales price dropped at a higher rate. 
  • The months supply of inventory fell to 3.4 months. This means if no new houses came on the market we’d run out of homes in 3.4 months at the current pace. An equally leverage market between buyer and seller is 5-7 months. Even with all the price reductions it’s a strong seller’s market. 

Here’s the video…

For more information on buying or selling in Reno or Sparks feel free to call me at (775) 393-9601 or email me at Ricky@RickyBeach.com

To search for homes visit RickyBeach.com

To get your home’s value visit HomeValuesOfReno.com

To stay up to date on your neighborhood visit RenoSnapShot.com.

If you have any specific questions email me at Ricky@RickyBeach.com

Ricky Beach

Broker/Salesman


Keller Williams Group One Inc.

10539 Professional Circle., #100

Reno, NV 89521

Office: (775) 393-9601
Cell: (775) 750-1437
Email: Ricky@RickyBeach.com
Website:www.RickyBeach.com

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Reno/Sparks Pricing Cheat Sheet for August

Thanks to our think tank for crunching the number for August.cheat sheet

You can view the whole report here… August 2015 Pricing Cheat Sheet

The lower prices ranges are still selling for about 99% of the list price but he pending ratio went down and the months supply of inventory went up.

Take a look for yourself.

If you have more specific questions about a neighborhood or house shoot me an email at Ricky@RickyBeach.com and I’ll get you the info.

 

 
To search for homes visit RickyBeach.com

To get your home’s value visit HomeValuesOfReno.com

To stay up to date on your neighborhood visit RenoSnapShot.com.

If you have any specific questions email me at Ricky@RickyBeach.com

Ricky Beach

Broker/Salesman


Keller Williams Group One Inc.

10539 Professional Circle., #100

Reno, NV 89521

Office: (775) 393-9601
Cell: (775) 750-1437
Email: Ricky@RickyBeach.com
Website:www.RickyBeach.com

Facebook Twitter LinkedIn YouTube

Reno Real Estate Cheat Sheet for July 2015

Our cheat sheet numbers are out. cheat sheet

You can view the whole report by clicking the pictures to the right or through here… July 2015 Cheat Sheet

  • Homes between $100,000 and $200,000 are moving quickly with a median days on market of 61. They’re also getting 100% of their asking price.
  • $200,000-$300,000 has 1.2 months of inventory. That bumped up a little but it’s still a strong seller’s market.
  • $300,000-$400,000 seems to have softened a little. The list to sales price ratio is at 99% but I’ve been noticing more price reductions to get those offers. Sellers are starting out really high and buyers aren’t playing the game anymore.

 

Reno Foreclosure Stats for July 2015

Thanks to Ticor Title for the updated statistics… Foreclosures

You can view the whole report by clicking on the picture or through here… July 2015 Foreclosure/Market Trends

  • Foreclosure starts stayed at 100 for the month. Same as last month.
  • Notice of Sale or the warning before foreclosure went up three but still wasn’t the highest in the past year.
  • Courthouse sales dropped by 7 to 50.
  • There were only 18 new REO listings that hit the market. Remember we were in the hundreds per month during the crash.

Overall, not much to see here.