Here is interesting real estate sales information for Reno, from the Truckee River to properties south of Mt. Rose Highway. This is information about homes and townhomes/condos in all of the Southwest Reno area to Southwest Suburbs for the month of October, 2007 and October 2006.
There are 931 homes/townhomes currently for sale on the market in all of Southwest Reno. The average list price for the 931 homes is $844,728. The median price is $645000. The average days on market is 129.
655 home/townhome sales contracts closed from January 1, 2007, through October 31, 2007. The average sales price for the homes sold was $625,414. The median price for a home/townhome sold was $485,000. The average number of days on the market was 140.
There are currently 96 homes/townhomes under contract in all Southwest Reno scheduled to close within the next 30 - 60 days. The average price for the pending sales is $654,850. The median price is $499,000. The average days on market is 155.
47 home sales contracts closed during the month of October, 2007. The average price for the 47 homes/townhomes sold was $636,654. The median price was $529,000. The average days on the market was 144.
Lets look at the same real estate sales information for 2006.
750 homes/townhomes were sold from January 1, 2006, through October 31, 2006. The average price for the 750 homes/townhomes sold was $641,552. The median price was $525,000. The average days on the market was 107 days.
83 homes/townhomes were sold during the month of October, 2006. The average price for the 83 homes/townhomes sold was 543,724. The median price for the 83 properties sold was $434,502. The average number of days on the market was 116.
It is obvious from this information that prices have moved down some, number of days on the market have increased and fewer homes are being sold. It is also important to note that there are still quite a few homes being sold. Buyers are still looking to buy because there are many good deals on the market and interest rates are super. The cost of financing is often the key to a good home purchase. It is quite a balancing act for a buyer to try for lower prices on a purchase then loose it all because interest rates go up. I will give you information on the cost of financing next report.
This information was taken from the Northern Nevada Multiple Listing Service. Neither the Reno/Sparks Association of Realtors nor the Multiple Listing Service is responsible for the information presented nor do they guarantee the accuracy of this report. Data maintained by the MLS may not reflect all sales activity in the area.
David Wiggins CRS ePRO RECS
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