Real Estate Blog - April, 2015

Is Reno In Another Housing Bubble?

In a word, no. Take a look at the graph below. 

The blue line in the graph represents a 1% historic appreciation rate. This was the average appreciation rate from 1990 – 2001. If we had continued appreciating at that rate, today’s median price would be $276,235. At the end of the first quarter of 2015, the median price for Reno/Sparks was $270,000.

The red line represents the actual median price, and the bubbles that occurred on both sides of the 1% appreciation line; first at the top of the market in 2005, and then again at the bottom of the market in 2012.

Reno home prices still haven’t quite caught up with where single family home prices should be based on historic appreciation. But, if you’re planning to sell your home, it may be the…

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Dickson Realty Market News April 16, 2015

The small number of homes available for sale in the greater Reno-Sparks area is definitely having an impact on our median price and days on market statistics. The median price is up 18.4% from a year ago, and days on the market, or the time it takes to sell a home, is down 9% from last March.

What helps to drive both of these numbers is an increase in the total number of homes sold, which in March was up 10.1% from March of last year. Also in play is the number of new listings that go on the market. For March 2015, this number was down 6.5% from last year, resulting in a 4.2% reduction in available inventory.

If you are planning to sell your home, give us a call at 775-453-4568. We’d love to create a free, personalized property evaluation for your…

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Prepare for Potential Water Restrictions with Drought-Friendly Landscaping

A continuing drought and may impact the look of your yard. Truckee Meadows Water Authority(TMWA) has asked its customers to cut water usage by 10%.  Many homeowners are opting to tear out grass lawns in favor of more drought-friendly designs. Rock pathways, drought tolerant plants, boulders, hardscaping with patios and stone walls are all becoming increasingly popular. This type of landscaping, called xeriscaping can save about 50% in water use.

Some tips for xeriscaping include:

1. Limiting Lawn Areas. Completely remove or limit the amount of grass in your yard. Consider updating your watering system to something more efficient. In the front yard, a flagstone walkway or boulders can make a lovely focal point. In the back yard, add or extend a…

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Reno Real Estate Market Report- April 6, 2015

What’s going on with our local housing market? Below is an in-depth look at existing housing inventory for sale and percentage of sales by price range in the Reno/Sparks area.

Using the most recent Reno/Sparks Association of REALTORS calculation for available inventory, there was 3.6 months supply of inventory at the end of February. This includes all Active statuses; Active and Available plus Active/Pending (or in contract / in escrow). If we look at only Active and Available, which are properties available to purchase and make an offer on, there was just a 1.48 month supply. These numbers are for condos, manufactured homes and single family residences in Reno/Sparks.

If we break that out by price range, the lack of inventory in the most affordable…

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Dickson Realty ArrowCreek Open House Tour Wednesday, April 1

From 11 to 1 on Wednesday, April 1, Dickson Realty is hosting an open house tour through ArrowCreek. If you would like us to meet you at one of the featured properties during that time, or any other time, please let us know. If there are other homes you would like to see in ArrowCreek or another beautiful Reno neighborhood, we’d would be happy to schedule that as well.

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