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January 2018

Found 10 blog entries for January 2018.

Demand for affordable housing in Reno-Sparks is high, and supply is low. While this creates a challenging environment for some home buyers and sellers alike, it is also one of the best move up markets in recent history. Let’s take a look at what’s happening.

As of January 30th, there were 578 homes on the market that were Active and Available for purchase. That is 13.1% fewer homes than the 665 on the market at the end of December and a staggering 43.1% fewer than the 1,016 homes on the market in January 2017. 66% of available homes have asking prices below $600,000, which is down from 71.9% in January 2017. Only 103 of the homes on the market today have asking prices under $300,000. By comparison, 276 of available listings were under $300,000 at

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Let's review the Reno-Sparks real estate market, comparing month over month activity from November to December 2017, and comparing year-over-year to December 2016.

According to the Reno Sparks Association of Realtors, the Median Sold Price for single family homes and condos in the Reno/Sparks area decreased by 3% to $324,950 through December. Though there was a decrease compared to November, a 12.1% increase is seen when we compare this price to a year ago. This year-over-year stat is a better indicator of how the market is performing. One of the largest reasons for the double-digit year over year increase in value is due to the sustained demand and the continued low inventory levels. We expect prices will continue to rise until more homes are

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Time MONEY has ranked Sparks, Nevada as one of the best places to live. Requirements include affordability, education, convenience, safety and pleasant way of life. Time chooses a best place to live in each state every year. 

"Interstate 80 runs through the center of Sparks, a fast-growing city located just east of Reno and nestled among the picturesque surrounding mountains. An established commercial and industrial center in the region, it is quickly growing as a less expensive suburban alternative, especially among younger generations. New residents are drawn in by local attractions like the Great Basin Brewing Company, the surrounding natural beauty, and the local cultural events—including the Best in the West Nugget Rib Cook-off, as well as other

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Let's review the Reno-Sparks real estate market, comparing month over month activity from November to December 2017, and comparing year-over-year to December 2016.

Please contact us if you have any questions or would like to discuss what is happening in the Reno-Sparks real estate market.

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Winter is not usually a prime selling season in real estate. You have holidays, cold weather and shorter days to contend with. But this year, we're seeing significant home sales, even in the middle of winter. So if you're planning to sell your home and were going to put it off till spring, you may want to reconsider. Interest rates are still very low and Northern Nevada has a surplus of buyers interested in owning a home. It's a good time to sell! If you'd like more information about the local real estate market, call us at 775-453-4568. 

If you're planning to sell your home this winter, the following are some tips to make your home look its best. 

1. Prevent Water Damage. Drainage issues can wreak havoc on your foundation and crawl space. Look for

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Active vs Sold Reno Sparks

Click to enlarge the graph

Typically, in December, we would expect activity in the Reno/Sparks area for Single Family homes to cool off slightly as we finish out the year. However, continued strong demand and the constrained inventory of affordable homes continues to drive a Seller’s market in many price ranges and neighborhoods. Let’s take a look at the details.

There were 637 homes available for purchase at the end of December. This a decrease of 25.1% when compared to November, and down a staggering 47.2% when compared to this time last year. Next, we will look at the number of units sold.

Reno/Sparks area Realtors sold 482 single family homes in December, which was a decrease of 9.2% compared to November. There was also a similar decrease

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We're sure you're aware of all the home maintenance tasks you should be doing (gutter cleaning anyone?), but what about the less noticeable chores? We've compiled a list of some of the more obscure tasks you may be forgetting or not even know about. 

Flush the Water Heater. Sure you can just wait till the water heater dies and water leaks all over your laundry room or garage. Or you could extend the life, and increase the efficiency, of your water heater. If you're not comfortable flushing the water heater yourself, hiring a plumber may be your best option. 

Clean the Refrigerator Drip Pan. A lot of refrigerators have a drip pan and they can become moldy. To clean yours, remove the kick plate at the bottom, front of your refrigerator, follow

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Let’s take a look at the Reno/Sparks housing inventory and sales statistics by price range for the year as 2017 has come to a close. Demand for affordable housing in Reno-Sparks is high, and supply is low. This creates a challenging environment for home buyers and sellers alike. Here are the details:

As of December 31st, there were 665 homes on the market that were Active and Available for purchase. That is 19% fewer homes than the 821 on the market at the end of November and a staggering 44% fewer than the 1,187 homes on the market at the end of last year. 66.5% of available homes have asking prices below $600,000, which is down from 73.4% in December 2016. Only 115 of the homes on the market today have asking prices under $300,000. By comparison,

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Written by Nancy Fennell, President of Dickson Realty

When you review the data, 2017's housing market has actually been better than it has felt at times.

Researching the Multiple Listing Service (MLS) that all REALTORS® use, there were more single family residential homes sold in the Reno/Sparks area in 2017 than in 2016 — in fact, more than a 3.7 percent increase. There were 6,693 single family homes sold in 2017 (as of Dec. 26) through MLS. The number of condominiums sold in 2016 and 2017 were almost even.

The reason the market seems so challenging is the difference in market demand and market supply in specific price ranges. We have plenty of homes to sell, just not enough homes in the affordable range. At the end of November, the market share

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