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Market Trends
Commentary Provided byStephen & Dana Haley Great opportunities to buy yesterdays prices with today’s dollars. |
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| Report Date | Fall 2009 | ||
| Nearest Metro Area | Reno | ||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | More than 120 days | ||
| Market Trend | Increasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Inventory Comments | Short Sale inventory is increasing, bank owned inventory is remaining pretty steady. | ||
| Average Home Price | $400,000 - View Graph Trend | ||
| Best Selling Price Range | $300,000 - $349,000 | ||
| Worst Selling Price Range | $800,000 - $849,000 | ||
| Compared to Last Year | Down 15-20% | ||
| Prices As % of Asking Price | 95-100% | ||
| Multiple Offers? | Yes | ||
| Multiple Offers Commentary | Homes in good condition and price at the market price or below are receiving multiple offers. | ||
| Greatest Activity | Investors | ||
| Buyer Activity for the past 90 days in Reno South is | Decreasing | ||
| Seller Activity for the past 90 days in Reno South is | Decreasing | ||
| Is Financing Available For Qualified Buyers in Reno South? | Yes | ||
| Comments on Financing For Qualified Buyers | Financing is available although not without challenges. Underwriting has gone beyond thorough. Appraisals are coming in under contract price in a number of cases. | ||
| Existing Home Prices for the past 90 days are | Decreasing | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 25-30% | ||
| Housing Hot Spots | Double Diamond and Damonte Ranch Southwest Reno, Arrowcreek | ||
| Reason to Buy/Sell | Prices have declined by almost 40% since their peak in late 2006, still a great place to live, close to Lake Tahoe. A nice community that is focused on quality of life. | ||
| Average Sold Price | $400,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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Stephen & Dana Haley
Keller Williams Group One Reno, Nevada Stephen @775-336-9100 or Dana @775-336-9491 Haley@Realtor.com Agent Home Page 
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Reno South Local News
July Cooling Trend - Thursday July 30th, 2009 7:02pm
Housing not the Weather cooling in July,
After a huge upswing in existing home sales from the past two years in June, things have come back down. Although still stronger than most of the previous months of 2009, July sales to date are slower than one year ago. Normally one of the highest months for sales, this July seems to indicate that the wait is still not over for the housing market.
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Stephen @775-336-9100 or Dana @775-336-9491
