Reno Nevada Market Statistics 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