Selling Reno And Sparks Real Estate Blog

Reno Nevada Market Report for April 2011

Prepared by Terrie Leighton, REALTOR® in Northern Nevada

Reno, Nevada saw 275 single family homes close in April 2011

There are now 275 happy new home owners living in Reno, Nevada today.  Those lucky home buyers were able to take advantage of low homes prices, the average sales price of a Reno home sold was just under $216,000, and low interest rates during, rates were sitting right around 5% for FHA loans, for  the month of April.

Reno, Nevada Real Estate Report ~ By The Numbers:

Total Homes Sold in April 2011 = 275
Total Homes Sold In April 2010 = 349

Medium List Price for Single Family Reno Home April 2011 = $172,000
Medium List Price For Single Family Reno Home April 2010 = $189,000

Medium Sold Price April 2011 = $163,000
Medium Sold Price April 2010 = $185,000

Days on the Market April 2011 = 103
Days on the Market April 2010 = 78

In comparing the Reno Real Estate Market this year with last year we see an overall decline in the number of single family homes sold, a declining sales prices and longer days each home spent listed on the market. The Reno real estate market is very active with bank owned and short sale properties.

 With a smaller number of homes sold over last year means we are still in a buyers market. Medium list prices and medium sold prices were down about 3% from last year. Medium prices continue to fluctuate within in a narrow range. This continued trend of minor fluctuations may indicate we are near the bottom of the market. When the end will come is any ones guess. But as interest rates remain low, buying real estate is still considered a good investment.

Interested in purchasing a single family home in Reno, NV? Currently there are 1415 Actively Listed Homes for sale with a medium list price of $219,000. There are some fantastic opportunities for investors and first time home buyers right now. If you would like to take advantage of some of these great home values, contact meor start your Reno Home Search to find the home that is perfect for you and your family.

What about those bank owned and short sale properties in Reno?  If you are looking for a foreclosure or short sale home, there are many of these types of properties available in Reno, Nevada. Currently there are 154 bank owned Active Listings. The medium list price of a Reno Bank Owned Property is $154,900.

If you are an investor or just a home buyer who has time, not in a hurry, or doesn't need to rush, then a short sale could be a good choice for you. Currently Reno, NV has 484 short sale properties active for sale.The medium listed price for a Reno Short Sale Property is $149,900.

 Many home buyers are willing to wait a little extra once they find the home they love. Although the short sale process takes longer than regular sales and REO sales,  buyers are considering short sales when they are located in desirable neighborhoods, or in particular school areas or are close to work, shopping, etc. Short sale properties are great investments so why not consider them when shopping for a Reno Home?

*The above statistics are for single family homes only and do not include condos or multi-family homes in Reno, Nevada.

Sparks Nevada Market Report for March 2011

Prepared By Terrie Leighton, REALTOR®, Ferrari-Lund Real Estate in Northern Nevada

Here are a few market statistics for homes sold in Sparks, Nevada during March 2010/2011:

Single family homes sold in March 2011 = 146

Single family homes sold in March 2010= 144

Medium sold price in March 2011 = $164,000

Medium sold price in March 2010 = $162,801

Days on the market in March 2011 = 91

Days on the market in March 2010 = 108

Sparks, Nevada single family homes sold with special conditions, i.e. short sale or bank owned:

Short Sales:

 Short Sale properties sold in March 2011 = 45

Short Sale properties sold in March 2010 = 52

Days on the market in March 2011 = 191

Days on the market in March 2010 = 191

Medium sold price in March 2011 = $170,000

Medium sold price in March 2010 = $145,000

Bank Owned:

Bank Owned properties sold in March 2011 = 43

Bank Owned properties sold in March 2010 = 39

Days on the market in March 2011 = 77

Days on the market in March 2010 = 64

Medium sold price in March 2011 = $143,200

Medium sold price in March 2010 = $149,500

The Sparks Real Estate Market decreased by nearly 20% from 2010 to 2011. The number of units sold are slightly higher over the same time last year of single family homes sold.

The absorption rate has halted its increase and is remaining steady for the short term. This signals that demand/supply realities are not changing significantly. It is any ones guess if this trend will continue throughout 2011 and/or into 2012.

It is still a great time for Nevada home buyers to purchase. Home prices are low and inventory is high. Interest rates are still low and Nevada has many first time home buyer mortgage programs to choose from.

If you need help find a Northern Nevada Home to buy, contact me for all your real estate needs today. Search the MyRenoHomeSearch website for current listings in the Sparks, Nevada area any time!

Sparks Nevada Market Report For March 2011

Sparks Nevada Market Report for January 2011

"To The Point" ~ A complete monthly market report for January 20100 brought to you by The Reno Sparks Association of REALTORS®. Featuring Sherrie Cartinella, 2011 RSAR President and Ken Amundson, past President, RSAR.

The following video is a recap of the Reno, Sparks, Fernley, Nevada areas market statistics for January 2011. Watch this video presentation to learn that January 2011 closed a record 350 single family homes, find out what the market trend is for the near future, how consumer confidence and unemployment is having an impact on the real estate market and learn why at least 71% of the Northern Nevada homes sales are from distressed properties.

Contact me directly for all your Reno / Sparks Nevada neighborhood market statistics questions or concerns. I will be happy to provide you with a detailed analysis of your neighborhood. If you are interested in a comparative market analysis on your home, please give me at 775-846-5424 or email me at Terrie@terrieleighton.com.

 Northern Nevada Market Report January 2011 ~" To The Point" by The Reno Sparks Association Of REALTORS®

Sparks Nevada Market Statistics for December 2010

Prepared By Terrie Leighton, REALTOR®, Ferrari-Lund Real Estate in Northern Nevada

Here are a few market statistics for homes sold during the months of December 2009/2010:

Single Family Homes Sold in Sparks for December 2010 = 146

Single Family Homes Sold in December 2009 = 146

Medium Sold Price in December 2010 = $155,000

Medium Sold Price in December 2009 = $175,000

Days On The Market in December 2010 = 110

Days On The Market in December 2009 = 92

Sparks NV Short Sale Properties: Of the 146 single family homes sold in Sparks during 2010, 46 homes were short sale properties. The medium sold price was $154,550. Short Sale properties were averaging 156 days on the market.

There were 46 short sale properties sold this same time during December 2009. The medium sold price during that time period was $162,000. The average time spent on the market was 167 days.

Sparks NV Bank Owned Properties: There were 50 bank owned properties sold in December 2010. The medium selling price for single family bank owned property was $133,950 and spent an average of 95 days on the market.

During the same time period in 2009, there were 52 bank owned properties sold in December. The average list price was $162,500 and lasted 65 days on the market.

The Sparks Real Estate Market seems to be holding steady from 2009 to 2010. The number of units sold are consistent with last years single family homes sold.

The absorption rate has halted its increase and is remaining steady for the short term. This signals that demand/supp;y realities are not changing significantly.

It is still a great time for Nevada home buyers to purchase. Home prices are low and inventory is high. Interest rates are still low and Nevada has many first time home buyer mortgage programs to choose from.

If you need help find a Northern Nevada Home to buy, contact me for all your real estate needs today.

Sparks Nevada Market Report For December 2010

I am happy to provide you with this summary of the 2010 homes sales/listing activity for your area:

Active Listings:

Address:                          Bed:    Bath:    Garage:    Special Conditions:     Price:

2585 Garzoni Drive            3         2           2              Short Sale                   $330,000

2541 Garzoni Drive            3         2.5        3              Short Sale                   $350,000

2645 Tuscan Way              3         2.5        2              Short Sale                   $369,000

2740 Milana Drive              3         2           2              Bank Owned               $384,000

2650 Novara Court            5         4           3              None                          $489,000

Sold in 2010:

Address:                       Bed:     Bath:      Garage:    Special conditions:        Price:           Date Closed:

2456 Firenze Drive        3        2              2                  Short Sale                  $253,0000         10/8/10

2664 Firenze Drive        3       2.5            3                   None                        $346,000            6/22/10

2720 Milano Way          3       2.5            3                   None                        $360,000            3/8/10

2589 Tuscan Way         3       2.5            2                 Short Sale                  $379,895            6/25/10

2589 Garzoni Way        3       2.5            3                  None                        $380,000             9/16/10

2544 Garzoni Way        3       2.5            3                  None                        $380,000             6/29/10

2787 Malina Drive         3       2.5           3                   None                        $392,000             5/27/10

If you would like additional information on any of these listings or sales, call me today at 775-846-5424 or, simply email me at Terrie@terrieleighton.com. I'd be glad to help. Or call for a FREE confidential Real Estate consultation. If you or anyone you know is behind on their monthly mortgage payments and needs to sell their home but do not know what to do, I would welcome the opportunity to speak with or or those you may know to discuss options that are available. Feel free to contact me for short sale and foreclosure information in the Sparks Nevada area.

D'Andrea Neighborhood Uptdate Sparks Nevada

*Disclaimer: Data is based on information from the Northern Nevada Regional Multiple Listing Service (NNRML) for period 1/1/10 to 11/15/10. The NNRMLS does not guarantee nor is any way responsible for the accuracy. Information is deemed reliable but not guaranteed. Reported sales were not necessarily listed or sold by Ferrari-Lund Real Estate.

              Reno Nevada Market Statistics for December 2009     

Here are your market statistics for single family homes sold in Reno, Nevada for December 2009:

Sold = 240

Average Sold Price = $233,431

Days on the Market = 132

There were 240 sinlge family homes sold in Reno, Nevadaduring the month of December 2009. Out of the 240 that were sold, 85 homes were bank owned/foreclosures and sold at an average price of $185,000. These homes on lasted on the market 88 days. We saw many bank owned properties list at lower prices, receive multilple offers that resulted in a higher sold price.

There were 65 short sale properties that closed during December. The average sold price was $239,000 and these properties took an average of 203 days to close. It is easy to see why the bank owned properties were receiving multiple offers, they were selling at lower prices and taking half the time to close.

Current Reno, Nevada single family residence listings:

Active = 1818

Available = 962

No Special Conditions = 574

Bank Owned = 100

Short Sale = 288

If you are looking to buy a home in Reno, Nevada this year, it is important to decide what type of property you are interested in before you start your home search. With 1818 properties showing active in the Northern Nevada Regional Multiple Listing Service there are only about half of those that are actually available to you.

This reports show you the length of time it has taken homes to close. If you are looking for a Nevada foreclosure, you will want to consider choosing more than one property to buy. Many investors, buyers are making offers and a lot time your offer will not be chosen. You will then need to look for another property to make an offer on.

If you are interested in purchasing a short sale, you must be willing to wait sometimes up to 6 months for receive an approval for a third party. Many buyers find this wait process very frustrating. Not knowing when they will be in their new home,  and not knowing what the interest rate will when once your offer is approved,  be is not for everyone.

If you need help buying or selling your home in Reno, Nevada, finding the right Realtor can help make your real estate process simpler. Knowing what the Reno, Nevada real estate market is doing from month to month,  day to day, is key in being a successful buyer or seller. 

 Let me help you with your home buying or selling process. Visit my web site at www.servingrenoandsparks.com  to find different Northern Nevada neighborhoods might interest or sign up for a free LisitingBook account so you can search Northern Nevada properties at www.sellingrenoandsparks.listingbook.com.

Please remember the numbers in this market report are derived from the NNRMLS and are believed to be accurate, but they are not guaranteed!

Reno Nevada Market Report December 2009 

Reno Nevada Market Report for September 2009 ~ Washoe County Nevada

Here are your market statistics for single family homes sold in Reno, Nevada in September 2009:

There were 311 single family homes sold in September. In August 2009, there were 334 single family homes sold in Reno, Nevada.

The average price of home sold in Reno, Nevada during the month of  September was $248,784. The average days on the market for these single family homes were 126 days.

Out of the 311 single family homes sold during September, 105 were Bank Owned properties. The average sales price of a Bank Owned property was $169,486. The average amount of time these homes were staying on the market we just 95 days.

There were 72 Short Sale propertiessold during the month of September 2009. The average sales price of a Short Sale property was $228,858. These homes spent an average of 183 days listed on the market.

The Reno real estate market appears to be holding steady. During the month of September foreclosures still maintained a huge influence on the Reno market and we saw a slight decrease in existing home sale prices.

Reno Nevada Market Report September 2009~ The numbers posted in this market report are believed to be accurate but are not guaranteed by the author.

~Sparks Nevada Market Report for September 2009~

Here are your market statistics for single family homes in Sparks, Nevada for September 2009:

There were 160 single family homes sold in Sparks, Nevada during September 2009.  30 more homes were sold in September compared to August 2009. Only 130 single family homes were sold last month.

Of the 160 homes sold in September, 69 homes sold were Bank Owned and 44 homes that sold were Short Sale properties.

The average sold price of a single family residence in Sparks, Nevada during the month of September was $182,111 with an average of 130 days on the market. During August 2009, the average sold price was $188,464 while staying on the market only 107 days.

The average price of a sold bank owned property during this time was $152,937 with an average of 91 days on the market.

The average price of a  sold short sale property during this time was $207,976 with an average of 202 days on the market. Short sale properties are taking twice as long to close once they receive an offer as bank owned properties.

Currently there are 848 single family homes listed for sale in the Northern Nevada Regional Multiple Listing Service in Sparks, Nevada. 484 of these listings are active pending short sale. This means they are waiting for third party approval.

The average list price of a single family residences in Sparks, Nevada is $134,000. The average list price during the month of August was $165,000. Home prices appear to have dropped approximately $30,000 from last month.

From this report we can see that existing homes sales continue to drop  in Sparks, Nevada as foreclosures continue to maintain a strong influence in our market. Short sale properties are staying on the market longer and foreclosures are seeing quick closing periods.

Sparks Nevada Market Report for August 2009 ~ The numbers posted in this market report are believed to be accurate but are not guaranteed.

Sparks Nevada Market Report August 2009

Market Report for Spanish Springs West August 2009

The Spanish Springs Valley sits just north of central Sparks, Nevada and is found along Pyramid Highway. It is a community located in Washoe County. This market reports includes single family residence homes located in West Spanish Springs.  The homes in West Spanish Springs  are located on the west side of the Pyramid Highway.

Here are your market statistics for homes listed and sold during August, 2009 in Spanish Springs West, Sparks Nevada, 89436 

Sold Activity:

~There were 19 single family homes sold in this area during August 2009.

~ Average days on the market were 92 days.

~ The average list price was $178,055.

~ The average sold price was $176,156.

~The average square footage of a home sold was approximately 1600 square feet.

~Of the 19 homes sold during August 2009, 8 were bank owned and 5 were short sale properties.

Current Listing Activity:

~Currently, there are 94 single family homes listed for sale in Spanish Springs West area. The average list price for a single family home for sale is $232,106.

~ Of the 94 homes currently listed, 60 are short sale listings and 15 are bank owned properties. The average list price for a short sale listing is $240,189. The average list price for a bank owned property is $206,551.

~ There are 62 homes pending in the area of West Spanish Springs.

~There are 13 active homes listed with no special conditions, i.e. bank owned or short sale. The average list price in this category is $199,061.

~ The lowest home listed in West Spanish Springs, at the time of this report, is $130,000 and the highest listed home is $326,900.

Summary:

Sold = 19 Single Family Homes/Average Sold Price $176,156.

Active = 94 Single Family Homes/Average List Price $232,106.

Existing homes sales in Sparks, Nevada continue to post positive gains but the average price of homes sold are dropping as foreclosures and short sales maintain a strong influence on the market.

If you are a first time home buyer, a buyer who has not purchased a home in the last three years, you may still have time to qualify to the $8,000 First Time Home Buyers Tax Credit. With homes selling below $200,000, you may also qualify for an FHA mortgage and benefit from low interest rates.

 If you are interested in buying or selling a home in Sparks, Nevada, feel free to call me at 775-846-5424 or email me at Terrieleighton@hotmail.com. You can also visit Serving Reno and Sparks to see a complete list of homes available for sale.

Sparks Nevada Market Report Spanish Springs West, August 2009

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Search the MLS for Properties here in Northern Nevada

Read the Northern Nevada Real Estate Blog

Sparks Nevada Market Report Spanish Springs East July 2009

This Spanish Springs Market Report is brought to you by Terrie Leighton, Ferrari-Lund Real Estate. The report is for single family detached homes and may not include all sales activity in the area. This report or any part of it may not be used without permission.

Disclaimer: Data based on information from the Northern Nevada Multiple Listing Service (NNMLS). The NNMLS does not guarantee nor is any way responsible for its accuracy. Information in this post is deemed reliable but is not guaranteed.

Sparks Nevada Market Report, August 2009, Spanish Springs East, Sparks, Nevada

This market report is for single family homes located in Spanish Springs East area of Sparks, Nevada. Homes located  in Spanish Springs East, lie in the Wingfield Springs development. Developers started building homes in Wingfield Springs in the late 1990's. The homes in this market report were built between 1999 and 2005.

This report includes homes listed for sale and sold in area 183 in Sparks, Nevada 89436

Here are your market statistics for homes listed and sold during August, 2009 in Spanish Springs East, Sparks Nevada, 89436 

Sold Activity:

~There were 32 single family homes soldin Wingfield Springs during August 2009.

~ Average days on the market were 95 days.

~ The average list price was $242,448.

~ The average sold price was $238,581.

~The average square footage of a home sold was approximately 2650  square feet.

~Of the 32 homes sold during August 2009, 11 were bank owned and 11 were short sale properties.

Current Listing Activity:

~There are 221 single family homes listed for sale in Wingfield Springs, Sparks Nevada. The average list price is $253,101.

~ Of the 221 homes currently listed, 128 are short sale listings and 22 are bank owned. The average list price for a short sale listing is $240,189. The average list price for a bank owned property is $233,154.

~ There are 84 homes pending in Wingfield Springs.

~There are 113 active homes listed with no special conditions, i.e. bank owned or short sale. The average list price in this category is $346,894.

~ The lowest home listed in Wingfield Springs, at the time of this report, is $129,000 and the highest listed home is $1,195,000.

Summary:

Sold = 32 Single Family Homes/Average Sold Price $242,448

Active = 221 Single Family Homes/Average List Price $252,101

Existing homes sales in Sparks, Nevada continue to post positive gains but the average price of homes sold are dropping as foreclosures  and short sales maintain a strong influence on the market.

If you are a first time home buyer, a buyer who has not purchased a home in the last three years, you may still have time to qualify to the $8,000 First Time Home Buyers Tax Credit. With homes selling below $200,000, you may also qualify for an FHA mortgage and benefit from low interest rates.

 If you are interested in buying or selling a home in Sparks, Nevada, feel free to call me at 775-846-5424 or email me at Terrieleighton@hotmail.com. You can also visit Serving Reno and Sparks to see a complete list of homes available for sale.

Sparks Nevada Market Report Spanish Springs East, August 2009

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Posted by Terrie Leighton. Terrie is a licensed real estate specialist in Northern Nevada. The information in this post is believed to be accurate.

Search the MLS for Properties here in Northern Nevada

Read the Northern Nevada Real Estate Blog

Sparks Nevada Market Report Spanish Springs East July 2009