If you are looking to buy your primary home or investment property, You must know the numbers !! As you know from our previous posts we are real advocates for buying in this market. I do not believe that we will see home prices, rates and other factors this positive for buyers for MANY years to come and maybe not again in our life time. Having said that it's critical to really know your numbers before looking and placing an offer.
The Reno/Sparks Area MLS Numbers Jan-09:
Single Family Active Listings- 3,082 ( 971 Short Sale, 738 Bank Owned, 1,373 Regular Sales)
In Contract- 723 ( 326 Short Sale, 253 Bank Owned, 133 Regular Sales)
Sold Listings- 207 ( 28 Short Sales, 136 Bank Owned, 43 Regular Sales)
Total Months Inventory- 14 months, 27 days
* Notes: 21% of properties are in contract, 66% of sales were bank owned, 55% of listings are Short Sales or Bank Owned, 24% drop in Sales from Dec 08, 16% increase in sales from Jan 08