The median price for the Reno-Sparks region in February was $265,000 which was a 5% increase from January, and a 13 and a half percent increase over February of 2014. According to statistics by the Reno-Sparks Association of REALTORS, values have risen 96% since the bottom of the market in January 2012. From the peak of the market in January 2006, values are still off 27.4%.

Since September of last year, the average days on market has been increasing. However, the days on market dropped from 125 in January to 109 in February, a 13 percent decrease. This is also a 5 percent decrease from February 2014. It’s interesting to note that 75% of new listings taken in January are currently either sold or have a pending sale. A sign to potential buyers that…

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Market-Profile-Report March19 (1)

Interest rates are still incredibly low, so it is a great time to buy. It’s an even better time to sell. To understand the nuances of the real estate market, you need an expert counselor on your side whether you are buying or selling.

Contact us to get the very latest information about your neighborhood home values. We’ve been assisting northern Nevada buyers and sellers for more than 20 years and would love to help you in your home buying or selling goals.

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In February, the number of single family home sales were up 6% from January, and the median sales price increased 4½% to $265,000.

The number of homes available for purchase in February decreased 11%, to 709, down from 797 in January. While the available inventory is exceptionally low, typically inventory levels begin to rise as we get closer to spring. Also, we anticipate that the new home builders are poised to start construction on more new homes as demand is steady and interest rates remain low.

February’s average days on market was 109, a slight decrease from December and January. The average days on market has been relatively stable since august of last year.

Knowing what to do when buying or selling a home can be a challenge. Having a…

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It’s natural for homeowners to want to make the most profit on their home. If you will be selling your home this year, and are considering selling it yourself, there are some things you may want to consider before hosting your first open house. According to the National Association of Realtors, homes for sale by owner (FSBO) made up 9% of home sales in 2013. The average FSBO sold for $184,000. The average agent-sold home sold for $230,000.

1.  Pricing. If you price your home too high, it could sit on the market for months. If you price your home too low, you could lose out on bigger profits. Real estate agents analyze comparable listings, sold homes and homes with pending sales to price your home competitively.

2. Exposure. Real estate agents have…

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A strong seller’s market and the continued increase in home values has helped reduce the number of short and bank sales for many months. The percentage of non-distressed homes in the Reno/Sparks region has continued to be a dominating factor. A non-distressed home sale is also known as a regular or traditional sale. Short sales and bank owned sales remain a small fraction of what they were a few years ago.

The median price trend for traditional sales decreased slightly from $272,000 in January to $266,676 in February, while the average days on market has been relatively stable since May. Both of these trends validate that our housing inventory is very low, and demand is strong, especially in the most affordable price ranges below $350,000. The current…

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