Real Estate
Washoe County Recordings for April
Washoe County re-sales increased for the third consecutive month (up 20% over March); however April new homes sales decreased in April over March (down 11%). Summing re-sales and new home sales results in a nearly 9% increase in Washoe County recorded home sale recordings for April over March. 605 recordings vs. 556 recordings.
Unfortunately this sales […]
Reno Sparks Residential Market Update
Sales in April 2008 were off 24% from the year prior, but activity in the low end continues to improve. The under $300K range decreased to 12 months of inventory with another big jump in pendings from 370 to 490. The $300K-500K range came down to just over 12 months of inventory showing improved activity […]
April Median Prices and Units Sold
A 31% increase in the month-over-month number of homes sold in April stands out as the big news this month. I, as well as many agents in my office, can attest to the increase in client activity lately. These numbers seem to support our perception.
The median sold price also increased for April, with a noteworthy […]
Preliminary April Numbers
Just a little taste of what happened last month… 336 homes sold at an average $310,925 after 151 days on the market. 4,269 still for sale. The median price was at $263,169. Remember, I include manufactured home classifed as real property. The detailed report should be done soon.
No Point in Posting…
…Because all the great conversation is happening in Mikey’s last post. Scroll down and check it out… It’s one of the best, most informative comment threads I’ve ever seen on this blog, including lots of new faces never before seen. Sure, I’ve got a ton of poignant, economic fallout posts courtesy of voracious reader, Reno […]
REO Sales - Waggin’ the Dog
The March sales numbers from the Center for Regional Studies finally got released today, and some very interesting (and disturbing, if you are a seller) trends are emerging. 55% of all resale SFR’s and condos recorded by the Assessor’s office were REO’s county wide. In both January and February, 35% of recorded sales were REO’s.
Using […]
Life in the Land of Earthquakes
First of all, I thought when I moved from Northern California to Nevada, where nothing ever happens except for Vegas, where whatever happens there magically stays there anyway… I would completely leave the whole Bay Area earthquake thing behind. Turns out, Nevada is the number three state behind Alaska and California for earthquake activity, which […]
Do Special Conditions of Sale Affect Salabilty?
While writing my last post it occurred to me that also tracking closings per type of “special condition of sale” would be an interesting exercise.
As of today our MLS is showing 4,305 listings [Reno-Sparks residential]. Breaking out these by the new “Special Condition of Sale” field yields:
"Special Conditions of Sale"
Reno-Sparks Residential Listings
[…]
Pendings Schmendings
Having just experienced yet another “pending” short sale fall out of escrow, I am wondering if these “transactions in limbo” can really be considered as Pending. With no meaningful time lines given by the lenders who are supposed either approve or not approve a pending offer on a "short sale"; days, weeks and even months […]
Ripples in Our Local Market
Is it just me, or does the 5:30 commute on 395 from South Reno to I-80 seem lighter to you these days? Yesterday I had lunch with some colleagues at a an upscale restaurant in South Reno. I arrived at noon and ended up waiting a half hour as the rest of my party was […]
You Don’t Need to be a Baker to Know What a Good Cake Tastes Like!
[Smarten originally posted this on Chase Nation. Since it was not specific to the conversation about Reno-Tahoe real estate and more of an industry piece, we had to make it visible to friends-only over there. However it’s a great little post challenging our entire current commission structure, making it perfect fodder for the free-for-all we have going on […]
Tahoe Home Prices Return to 2004 Levels
From the local rental market we go to the other end of the housing spectrum. The lead story in today’s RGJ’s Business section concerned the Tahoe housing market: Average Tahoe home price drops below $1 million
This story contains commentary and stats by our very own broker and vice President of Chase International, Sue Lowe. Be […]
Reno’s Rental Market Stable
Frequently readers write in and ask about the rental market here in Reno. Unfortunately we don’t track the rental market as closely as we do the residential sales market, so we seldom can offer specific data. [Note: to our commenters who provide answers to these queries, thank you very much.] Anyway this morning’ RGJ contained […]
Reno’s Average Commute Time: 15 Minutes 36 Seconds
Today is National Start! Walking Day…at least according to the American Heart Association. I saw the article in this morning’s RGJ Neighborhood & Voices section. While I believe in the benefits of walking (or most exercise, for that matter), what I found most interesting were the stats quoted for Reno’s commute times.
• Reno’s median commute […]
March Recordings from Ticor Title
Both the number of new homes sales and the number of re-sales in Washoe County increased for the month of March according the most recent data distributed by our friends at Ticor Title. March re-sales were up 15% over February’s units sold. And new home sales were up a whopping 48% over February’s new home […]
