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September 2015

Found 11 blog entries for September 2015.

The average days on market for August 2015 was 77 days, which is now a record low spanning all the way back to August 2010. The average for days on market has been decreasing since January 2015, where it spiked at 129 days after a previous period of decline. This clearly indicates excellent conditions for a continued seller’s market.

What does this information mean to you? Well, our local market has remained consistently in a seller’s market for more than two years. Interest rates, although rising slightly, are expected to remain at historical lows for another few months, and are predicted to climb to approximately 5% by year end. For those sellers who have equity as a result of the increase in property values, the time may be right for us to

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In August, the median price for the Reno-Sparks region was $289,950. There was a miniscule shift compared to the previous month, for July marked a median price of 291,990, amounting to a decrease of less than one percentage point. Overall, the monthly median price has steadily climbed back up ever since it hit a low of $135,000 back in January 2012.median price September 2015

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Open House at 1745 Dakota Ridge Trail, Reno from 1 to 4 p.m. on Saturday, September 26th.

This custom Somersett homes features 4 bedrooms, 3.5 bathrooms and spacious, bright living areas. The kitchen is open with plenty of storage, granite counters, stainless steel appliances and an incredible view from the kitchen window.

The half-acre lot is landscaped with mountain views. Relax on the private deck off the master bedroom or book a tee time at Somersett Golf Course.

This is Somersett luxury living at its best!

PatioCustom Kitchen

Custom bathLiving Room

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The increase in months of inventory for both homes and condos, due in part to more active listings and fewer sales, means more properties are becoming available to potential home buyers. Still, the Reno and Sparks areas remain a strong seller’s market, especially for homes priced less than $600,000.

Recent reports from EDAWN and the UNR Center for Regional Studies predict strong economic growth and a 1.4% annual population increase for the next five years. These factors will contribute to a robust demand for housing. The year over year price increases and low inventory that we’ve witnessed for the past couple of years will continue if the projections are correct.

If you are thinking about selling your home, we can help you set the right price and

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The median sales price for single family homes and condos sold in August 2015, showed a flattening of the market when compared with July. However, the median sales price is up 16% from a year ago. Some month over month stability after an annual double digit increase is bringing a little relief to those trying to purchase a home in our area.

The average days on market for homes slightly decreased from 79 to 75 between July and August, and the average days on market for condos decreased slightly from 84 to 79 over the same time span.

 

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Air Races

Reno Air Races

The world’s longest-running air races is heading into its 52nd year at the Reno Stead Airport this weekend. The National Championship Air Races run Thursday, September 16 through Monday, September 20.

Spectators have a variety of races and events to choose from, including Tora, Tora, Tora, a re-creation of the attack on Pearl Harbor, Read Eagles Formation Team, Wings of Blue USAF Academy Jump Team, and Heritage Flights of both the F51 Mustang and the F16 among much more. Races begin at 8:00 a.m. daily and end around 4:30.

You can also check out the aviation displays and take photos with beautifully restored aircraft.

Tickets can be purchased at The Air Races website or at the Reno Stead Airport on the day you

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In August, the total number of single-family home sales in the greater Reno-Sparks area was down 14.8 percent from the month of July, from 593 units to 505 units.

The median sales price of $290,000 in August marked a slight decrease from July, although it is a 16 percent increase over August 2014.

There was an increase in the number of homes available for purchase in August, with 1,165 active homes available on August first versus 1,094 on July 1st.

August’s Average Days on Market for sold homes stood at 74 days, which was a 6.3 percent decrease from July, and the lowest number since August of 2014.

Knowing what to do when buying or selling a home can be a challenge. Having a market expert on your side is an invaluable asset. As your Dickson

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If we break down the Months of Inventory by price range, and only look at the homes that are Active and Available as of August 31st, we can get a good picture of how tight the inventory is, especially in the under $300,000 price range. For homes priced $10,000-$300,000 there are only35 DAYS of inventory. For homes in the range of $301,000-$600,000, inventory is just 82 days, or just around 2.7 months. Although inventory has increased slightly since the Spring months, these two price ranges have been in a very strong seller’s market for many months now. The National Association of Realtors considers a “healthy market”, where it is neither a Seller or Buyer market, to be one with 5 to 6 months of inventory.

Months of Inventory September 8 2015

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Let’s look at sales as of August 31st. The largest percentage of sales for homes, by far, is in the under $300,000 range, with nearly 64% of all sales in Reno-Sparks since the beginning of the year. The price range with the second highest number of sales is the $301,000 to $600,000 range, with nearly 31% of all sales. This is not surprising news, given the strong demand and short supply of homes in these price ranges. As sales price climbs, we see that the market softens slightly, with only 84 sales this year over $900,000.

There are several factors contributing to our continued inventory shortage, and we predict that these reasons will not disappear in the near term:

  • The economy continues to improve, with more companies moving into the region.
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You’ve worked hard all year and now it’s time to relax with a three-day weekend and celebrate the unofficial end of summer. If you’re planning to stick around the Reno-Tahoe area, check out these local events over the long weekend.

The Best in the West Nugget Rib Cookoff– September 2-7. Victorian Square in downtown Sparks is transformed into a rib grilling oasis where 24 rib cookers show off their best rib recipes. Parking and admission is free and there is a free shuttle running from the Legends at Sparks (between Popeye’s and Fuddruckers) and Victorian Square all weekend.

Lake Tahoe Labor Day Extravaganza– Sunday, September 6 at 8:00 p.m. Tune into local radio stations  KRLT-FM 93.9 and KOWL – AM 1490 for a simultaneous musical broadcast while you

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