What is Reno real estate selling for - February, 2008?

More importantly, how negotiable are prices in the current Reno real estate market?

Even though the Reno median home price is down 21% from its peak in 2005 (single family only - no condos, manufactured homes, etc.), the amount sellers are parting with is still not that much more than in 2005.

In 2005, the % of SOLD PRICE to LIST PRICE was 98%. So far, year to date the same metric is 95.1%. While 3% is a meaningful number (especially to real estate agents), it is far less than what most consumers would expect to see for "dealings" with a market like the current.

Jump on over to see the most recent Reno homes sold prices (Feb. 2008) and the % each sold for compared to list price.

If interested in other cities near Reno, visit this link.

Mitch