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Reno Nevada Market Report March 2010

Reno Nevada Market Statistics for March 2010

 

Here are your market statistics for single family homes sold in Reno Nevada for March 2010:

Sold = 299

Sold Price = $225,222

Average Days on the Market = 146

(Click here for the February Market Report to compare to March)

There were 299 single family homes sold in Reno, Nevada during March 2010. Approximately 92 of the 299 homes sold were bank owned / foreclosure properties.

 The average selling price of a Reno Nevada bank owned property in March 2010 was $173,065. Foreclosed properties spent an average of 83 days listed for sale in the Northern Nevada Regional Multiple Listing Service (NNRMLS).

There were 96 short sale properties sold during March. The average sold price of a short sale property was $195,345 and spent an average of 213 days listed in the NNRMLS.

 Active Listings:

Active Single Family Homes = 1124

Median Price = $299,000

Days on Market = 134

There are 1124 single family homes currently listed for sale in Reno Nevada. Out of the 1124 homes that are on the market in Reno, 322 are listed as short sale properties and 88 are listed as bank owned properties.

Now that the number of homes listed for sale with special conditions is lower than the number of homes listed without any special conditions, we could start to see prices stabilize. Once the real estate  market stabilizes we could see prices start to rise. Could this mean we have hit the so called "bottom of the market?" I believe that before we can safely say we need the next few months look like before we can safely say we our out of the current housing situation.

 

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 March 2010

Your Home. My Priority. Since 2003

Certified Distressed Property Expert (CDPE)
Certified Default Resolution Specialist (CDRS)
Short Sales & Foreclosure Resource ~ Certified (SFR)
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Certifed Negotiation Expert (CNE)
Property Manager

Ferrari-Lund Real Estate

 Cell ~ 775.846.5424

Email ~ Terrie@terrieleighton.com

 

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Comment balloon 2 commentsTerrie Leighton • May 12 2010 05:50PM

Comments

Very thorough market reports, very useful to local buyers and sellers.

Posted by Catherine "Cathy" Chaudemanche- Edison, NJ, Full Time, Informed and Involved- Results Driven (Metuchen Keller Williams Elite Realty / Middlesex County, NJ) over 8 years ago

Terri nice work keeping everyone in your area up to speed with what is going on in the market!

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) over 8 years ago

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