Reno Real Estate In the Last Six Months

If you like keeping up with the Reno real estate market it might be a good idea to keep a close eye on the last six month's numbers.

This will give you an edge on what's about to happen and how you can benefit from it.  Most people will track the past year or two.  This is good (the vast majority are not even aware of this). 

But sometimes a year or two is little too long a time to wait, get a head start and look at the past six months.

Reno For Sale Median Price:

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Notice the dip, mind you, this is just from August to December of this year.  The big reason why this is happening is due to foreclosure in the Reno real estate market. 

Sellers are forced to compete with Bank foreclosures. 

However hard this may be for many, this is the brutal truth that sellers need to face.  Once a buyer is out there, the first thing that he looks for is foreclosed properties (price motivated; buyers market). 

There are exceptions of course, if your home is truly one of a kind, you can be lucky to find that special buyer who will buy your prized home at a premium. 

But generally, this is not the case for many sellers.  Just be aware of your market and seize opportunities.

Reno Median Price Sold:

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Notice the difference from the first graph: 

Current median price of homes for sale in Reno is $290,000.  Current median price Sold in Reno is $250,000.  Look at the lines: the first graph has a downward trend line, while the second one is slowly forming a u-shape form. 

Clearly, you'll see what the market(buyers) is absorbing.  Buyers are devouring homes priced from $100,000-$250,000.  And based from my experience banks are also making it hard to lend big amount loans.