Supply & Demand of Homes In Reno-Sparks

What You Should Know Before Buying or Selling Your Home.

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Supply & Demand: Every business man's favorite subject- And I think It should be yours too. If you're seller, it's important to know how many homes are in the market, how many are closing and what percentage of the homes are being sold compared to the homes for sale.

If you're a buyer knowing the supply and demand empowers you to negotiate prices. You'll feel more confident in making offers. Definitely a very important factor before selling or buying your home.

Search Criteria

MLS: Northern Nevada

Bedrooms: All

Property Type: Residential (site/stick built)

Cities:  Reno, Sparks

Time Period: 2 Years(monthly)

Bathrooms: All

Price: 0-99999999999

Construction type: All

Notice how the number of homes for sale on June 2006 was significantly higher  than June 2007(+1,084 homes )-which means at present we have lower inventory, But homes that were sold and under contract decreased significantly by 20.04%  and 63.65% respectively. So we've cut down on inventory but are also selling less homes.

It seems that our local market (Reno-Sparks) has not yet bottomed. Buyers, continue to have a healthy fear of the market. Find the best deals , be patient in your home buying process, nothing good comes out of emotion-based decisions. Sellers, The market is still (by and large) in a downward trend. Check your numbers and if you do decide on selling, price your home in the top 3 in your area with the best condition. It will definitely catch the eyes of the majority of buyers out there.