Well...We are into a new year and I thought you would like to see current home sales information for Reno and Sparks, NV and all Washoe County (excluding Incline Village). So often what you see or hear in the news media about home sales is doom and gloom. Sometimes it appears the news reporters think they are news forecasters. The worse they report and the worse things get, the better and the more accurate they think they are. Friends have asked me when the housing sales boom stopped. My answer is I saw the first signs in July of 2005. Did prices go up after that? Yes. Were there still record sales after that? Yes. The signs of a slow down, though, were starting to become apparent. More FSBO (for sale by owner) homes were going to real estate agents to sell. There were more expired listings every day and days on market were longer. Then, builders started to have some standing inventory. Sellers who were selling their existing home to buy a new home started having difficulty getting the "high" price they needed to buy the new home. Many sellers thought they could still get 5% - 10% more than the last home sold for in ntheir neighborhood. some of those homes are still for sale. Please contact me if you would like a copy of my report, The Truth about what is going on in the Washoe County housing market. Right now, though, let me give you current housing sales information for the first hal of January, 2008. The information is for residential properties which consist of single family homes, condominiums & townhouses and manufactured homes...
ACTIVE PENDING TOTAL A & P SOLD EXPIRED
Reno (all areas) 2,713 269 2,982 45 214
Sparks (all areas) 838 85 923 24 58
| # of Listings | Dollar Volume | Avg Price | Med Price | ||
| RESIDENTIAL | |||||
| Conventional | 3,515 | $1,249,093,084 | $355,361 | $292,500 | 126 |
| FHA | 259 | $57,012,644 | $220,126 | $224,000 | 116 |
| VA | 74 | $19,093,827 | $258,025 | $250,000 | 124 |
| Assumption | 4 | $1,257,374 | $314,344 | $234,500 | 219 |
| Cash | 344 | $159,717,040 | $464,294 | $325,000 | 129 |
| Contract of Sale | 6 | $1,143,500 | $190,583 | $167,500 | 172 |
| Owner | 17 | $5,110,400 | $300,612 | $210,000 | 127 |
| CTEL+2 | 1 | $255,000 | $255,000 | $255,000 | 148 |
| Miscellaneous | 35 | $9,178,600 | $262,246 | $226,800 | 112 |
Analysis by Area | |||||
| Comml/Indst Core | 133 | $39,269,588 | $295,260 | $265,000 | 258 |
| Reno-North | 174 | $34,185,054 | $196,466 | $190,000 | 114 |
| Reno-Northwest | 259 | $68,887,655 | $265,976 | $251,950 | 116 |
| Reno-Northwest Suburban | 266 | $88,589,354 | $333,043 | $319,200 | 112 |
| Reno-West Suburban | 13 | $5,238,300 | $402,946 | $405,000 | 78 |
| Verdi | 13 | $7,924,550 | $609,581 | $570,000 | 139 |
| Sun Valley | 160 | $32,812,804 | $205,080 | $207,500 | 119 |
| Reno-North Valley | 86 | $21,359,083 | $248,361 | $226,500 | 113 |
| Reno-Golden Valley | 17 | $5,851,100 | $344,182 | $325,000 | 126 |
| Reno-Lemmon Valley | 65 | $16,404,373 | $252,375 | $249,900 | 101 |
| Reno-Stead | 224 | $52,891,350 | $236,122 | $240,000 | 99 |
| Reno-Silver Knolls | 15 | $5,894,500 | $392,967 | $373,000 | 135 |
| Reno-Cold Springs | 147 | $35,432,734 | $241,039 | $235,000 | 123 |
| Reno-Red Rock | 8 | $3,215,900 | $401,988 | $359,500 | 163 |
| Reno-Rancho Haven | 11 | $3,878,700 | $352,609 | $365,000 | 228 |
| Reno-Southeast | 110 | $21,230,491 | $193,004 | $186,250 | 117 |
| Reno-Donner Springs | 133 | $31,005,038 | $233,121 | $255,900 | 105 |
| Reno-Hidden Valley | 55 | $23,103,058 | $420,056 | $400,000 | 128 |
| Reno-South Meadows | 283 | $102,835,357 | $363,376 | $340,000 | 107 |
| Reno-Old Southwest | 154 | $54,219,162 | $352,072 | $310,000 | 126 |
| Reno-South Suburban | 144 | $116,833,588 | $811,344 | $715,000 | 128 |
| Reno-Southwest Suburban | 82 | $91,302,920 | $1,113,450 | $955,000 | 242 |
| Reno-Foothills | 50 | $15,260,121 | $305,202 | $307,500 | 127 |
| Pleasant Valley | 5 | $2,208,500 | $441,700 | $394,000 | 84 |
| West Washoe Valley | 8 | $9,470,000 | $1,183,750 | $1,122,500 | 238 |
| Virginia City Highlands | 20 | $9,590,700 | $479,535 | $447,250 | 159 |
| Washoe Valley | 28 | $9,177,500 | $327,768 | $332,000 | 126 |
| Sparks | 200 | $41,492,099 | $207,460 | $212,250 | 118 |
| Sparks-East | 239 | $63,880,550 | $267,283 | $262,000 | 110 |
| Sparks-Suburban | 240 | $78,718,900 | $327,995 | $305,000 | 130 |
| Spanish Springs-South | 175 | $63,454,548 | $362,597 | $327,000 | 131 |
| Spanish Springs-West | 126 | $37,690,895 | $299,134 | $285,000 | 115 |
| Spanish Springs-East | 31 | $15,042,023 | $485,227 | $429,290 | 140 |
| Palomino Valley | 8 | $3,839,000 | $479,875 | $430,000 | 128 |
| East Truckee River | 28 | $5,493,549 | $196,198 | $193,000 | 132 |
| Reno-West Southwest | 96 | $62,754,550 | $653,693 | $566,000 | 132 |
| Reno-Southwest | 242 | $112,856,200 | $466,348 | $398,500 | 131 |
| Reno-Old South Suburban | 65 | $43,301,688 | $666,180 | $430,000 | 120 |
| Reno-Somersett | 83 | $45,836,337 | $552,245 | $530,000 | 146 |
| Sparks-Foothills | 59 | $19,429,650 | $329,316 | $305,000 | 87 |
| Totals | 4,255 | $1,501,861,469 | $352,964 | $285,000 | 126 |
| Non Co-op Sales | 957 | $345,567,557 | $361,095 | $285,000 | 141 |
| Co-op Sales | 3,298 | $1,156,293,912 | $350,605 | $285,000 | 121 |
| All Sold Listings | 4,255 | $1,501,861,469 | $352,964 | $285,000 | 126 |
| The last column is days on market. |
Note: This information is for Reno and Sparks, Nevada areas only. This representation is based in whole or in part on data supplied by Northern Nevada Regional Multiple Listing Service (copwrited material). Neither the Reno/Sparks Association of Realtors nor the NNRMLS is in any way responsible for the accuracy of this report. Data maintained by NNRMLS may not reflect all real estate activity in the area. The information I show is only for residential properties that have been listed and sold through agents associated with the Reno/Sparks Association of Realtors.
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