You can now search for a home in Reno, Sparks, Carson City, Dayton / Virginia City, Fallon, and Lake Tahoe area using the new Reno Realty listings MLS home finder. We have teamed up with Northern Nevada Regional MLS to provide residential, commercial, business opportunities multi-family homes, farms and ranches, homes for rent and even vacant land MLS listings all across northern nevada. If you are searching for a home in the Reno / Sparks area you will want to use the Reno MLS. With the Reno MLS you can search for Northern Nevada homes that fit your criteria. You can specify the price of the home, the size and number of garages, square footage, specific locations or number of bathrooms. With the Reno MLS you you can find the home of your dreams without having to leave the computer!
Reno/Sparks Real Estate Market Stats - February, 2012
MEDIAN HOME PRICES:
Southwest Reno, $229k; New Southeast, $205k; North Valleys, $105k; Northwest & Downtown Reno, $132k; Old Southeast, $110k; Sparks Suburban, $162k;
Downtown Sparks, Lockwood & Fernley, $107k
51% of the homes in the $200k & under range are distressed sales
64% of all new listings are being identified as distressed homes
NEWLY LISTED HOMES:
Homes that were listed at $250k & under range made up 80% of the new listings on the market
The compiled stats of the conditions of the listings on the market for Feb 2012 were as follows:
22% REO, 42% Short Sales, & 34% had no special conditions 1% were relocation or subject to court approval.
Sellers verse’s buyers market
THE NATIONAL ASSOCIATION OF REALTORS describes a balanced market as having a range of 5-7 month supply of homes on the market.
Spanish Springs has the largest amount of inventory on the market with 169 lisitings.
New Southeast, Northwest, Sparks & the North Valleys, are now being defined as being in a seller’s market with only a 5 month supply of homes listed. Those same areas have the highest level of activity of homes that are pending, as well as the closed sales for the month.
Washoe Valley, Southwest Suburban, & Virginia City Highlands, are still in a buyer’s market with a 10 month supply currently listed.
With the low interest rates & low home prices, 70% of Americans surveyed stated that now is the best time to purchase a home.
Overall Americans surveyed were more optimistic about their financial situations, with only 12% stating that they felt their financial situation would worsen over the next year.
Market update by Denise Bissett
When is the right time to buy in the Reno Nevada real estate market?
Why not now? There are many great homes for sale in the Reno, Sparks, and surrounding areas. If you don't believe me try the Reno MLS home finder. As a responsible realtor I keep up on all the latest news in the Northern Nevada real estate industry. The consensus is that Reno home prices are going to continue to rise at a slow and steady pace over the next few years. So if you have been waiting to buy your patience has paid off. Now is the time to make the move.
When it comes to purchasing a home in Reno it's important to have a Realtor at your side that specializes in the Reno / Sparks area. Reno Realty is one of the oldest and most trusted names in Reno Nevada Real Estate. Reno Realty will make sure you are getting the best possible house for your money, even if we have to show you every singe one of them. That is the Reno Realty customer service guarantee. At Reno Realty we have a whole office of real estate agents working hard to make sure you get the Reno home you want at a price you can afford.