Reno/Sparks November 2009 Real Estate Statistics

Posted on by

Below are the market statistics for residential sales in Novmeber 2009. Please note the list to sale price of bank owned properties. They are still selling for at or over list price.

All Types-SFR REO/Bank Owned Short Sale Owner Sells Other Condo
Number of Active Listings 2900 298 1539 956 107 539
Avg. List Price $344,911 $208,871 $210,428 $616,984 $227,215 $119,424
Avg. Days on Market 145 64 149 168 100 147
Total Listed During Month 502 126 201 136 39 80
Number Sold 377 129 111 118 19 55
Pct. Sold 75.10% 102.38% 55.22% 86.76% 48.72% 68.75%
Avg. List Price Sold $218,592 $177,762 $202,898 $286,363 $166,589 $104,691
Avg. Sale Price Sold $212,704 $178,946 $198,816 $270,144 $166,310 $100,092
Sale Price to List Price % 97.31% 100.67% 97.99% 94.34% 99.83% 95.61%
Avg. Days on Market Sold 116 78 179 102 104 141
Avg. List Price Unsold $403,923 $211,568 $207,061 $703,393 $274,031 $81,965
Pct. Expired 32.07% 3.97% 33.83% 61.03% 12.82% 28.75%
Condo is not included in the all types catgegory.

$8000 Home Buyer Tax Credit extended and expanded for 2010

Posted on by

The Worker, Home Ownership, and Business Assistance Act of 2009 has extended and expanded the home buyer tax credit through 2010.

 First Time Home Buyer Tax Credit of $8000

  • The credit has been extended to cover sales from January 1, 2010 through April 30, 2010.
  • A binding executed contract prior to April 30, 2010 will qualify for the credit as long as it closes by June 30, 2009.
  • Income limits for single taxpayers is $125,000 until January 1, 2010 and $75,000 from January 1, 2010 to April 30 , 2010.
  • Income limits for married taxpayer filing jointly is $225,000 until January 1, 2010 and $150,000 from January 1, 2010 until April 30, 2010.
  • The property must be a primary residence and the buyer must not have owned a property within the past three years.

Move Up Home Buyer Tax Credit of $6500

  • Property must be purchased as a principal residence. No investment properties.
  • The credit has been extended to cover sales from January 1, 2010 through April 30, 2010.
  • A binding executed contract prior to April 30, 2010 will qualify for the credit as long as it closes by June 30, 2009.
  • Married filing separately can only claim $3250.

Learn more at Home Buyer Tax Credit.

Don’t miss the opportunity to buy in this market. Reduced prices and record low interest rates there has never been a better time to buy. Ask your Realtor for more information.

Reno/Sparks Real Estate Numbers for October 2009

Posted on by

Below are the Real Estate numbers for the Reno/Sparks area in October 2009. Please note the comparison between list price and sold price of REO properties and days on market for sold Short Sale properties.

 

All Types REO/Bank Owned Short Sale Owner Sells Other
Number of Active Listings 3761 528 1899 1294 40
Avg. List Price $305,955.00 $172,781.00 $192,879.00 $526,460.00 $304,299.00
Avg. Days on Market 139 70 140 166 179

Total Listed During Month 862 257 310 290 5
Number Sold 614 259 140 209 6
Pct. Sold 71.23% 100.78% 45.16% 72.07% 120.00%
Avg. List Price Sold $206,220.00 $144,124.00 $207,952.00 $280,639.00 $254,500.00
Avg. Sale Price Sold $199,599.00 $145,603.00 $197,722.00 $266,483.00 $244,500.00

Sale Price to List Price % 96.79% 101.03% 95.08% 94.96% 96.24%
Avg. Days on Market Sold 127 95 201 116 193
Avg. List Price Unsold $306,384.00 $138,756.00 $217,758.00 $464,781.00 $497,737.00
Pct. Expired 17.40% 2.72% 16.77% 31.38% 0.00%