Units sold are up for the second consecutive month in Reno Sparks; with March sales showing a 8.2% increase over February units sold.
Unfortunately the number of houses for sale increased 2.8% during the same period. To put real numbers to the percentages: March saw an additional 111 homes added to the market with only an additional 18 homes sold. High inventory remains the core issue in the market.
Median asking price increased while median sold price declined to a new low of $262,000.
See all the data here.
Both the number of new homes sales and the number of re-sales in Washoe County increased for the month of March according the most recent data distributed by our friends at Ticor Title. March re-sales were up 15% over February's units sold. And new home sales were up a whopping 48% over February's new home sales. See allthe data here.
Today is National Start! Walking Day…at least according to the American Heart Association. I saw the article in this morning’s RGJ Neighborhood & Voices section. While I believe in the benefits of walking (or most exercise, for that matter), what I found most interesting were the stats quoted for Reno’s commute times.
• Reno's median commute time: 15.6 minutes
• Percent of the Reno population with a commute that is 45 minutes or longer: 5.8 percent
• Percent of the Reno population that walks or bikes to work: 6 percent.
Coming from Chicago, I find these commute times extraordinarily short.
The RGJ article quoted the source of these stats as CNNMoney.com’s “Best Places To Live”, so checked out the site.
You’ll find plenty of info here on the best US cities in which to live, but here’s a direct link to Reno’s page. On this page you’ll also get to see how Reno stacks up against the averages for the cities that comprise the “Best Places to Live” on a variety of metrics. For example, Reno has only 160 bars within a 15 mile radius. The average number of bars within 15 miles for the Best Places to Live is 287!
The number of houses for sale in February dropped 3.5% from January's numbers - continuing a downward trend that began last fall (September 2007). Similarly the median asking price continues to decline (1.5% from last month) as well.
Unfortunately the number of houses sold last month are also way down. With only 125 sales reported at the moment, February's units sold are off almost 34% from January's numbers. Consequently inventory continues to climb, despite the lower number of homes for sale.
See all the numbers here.
Just as we saw with last quarter's numbers vacancy rates again increased across the board. However, a reshuffling of the ranking has occurred. Somersett has once again regained the top spot as having the highest proportion of vacant listings. And with 63% vacant and 8% tenant-occupied, only a 29% of Somersett's current listings are owner-occupied. 29% owner-occupied represents the lowest level seen since I began tracking the data. (see all the numbers here)
 |
|
|
I realize the importance of listening to my clients and identifying their needs in order to deliver the extraordinary results to which they've become accustomed. Let me show you true client service.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
