HOME BUYERS IN RENO: top three AREAS EXPERIENCING POPULATION EXPLOSION

Reno population from 1960-2000. Courtesy of: CensusScope

Many have reported about the increasing population in the Washoe County (Reno-Sparks being the biggest gainers).

But what areas in Reno-Sparks are people moving to exactly? This is important for Reno home buyers who are thinking about possible future equity in their homes, those who are thinking of selling within five years.  It is vital to know the demand in the area you want to move in to.  And when there's an uptick in demand, more buyers are likely to want your property.

*The numbers and graphs were provided by nsbdc.com  

Here are the three busiest streets in the Reno-Sparks market:

1.  Reno-Stead (North Reno); MLS area 134

DIRECTIONS--Take 395 North, exit on 74-Lemmon drive or exit 76-Stead Blvd.

Market Overview:

The median price (sold) for this area is at $137,500 (Feb 2009), down sharply from $243,750 back in February of 2007.  Demand look steady at 25-30 homes SOLD/month  in the last seven months.  Supply of homes have been steadily going up since February of 2008 (a good sign).

2.  Sparks-Vista Blvd (Sparks Suburban); MLS area 182

DIRECTIONS--take 80 East, exit on 20-Sparks Blvd. or exit 21-Vista Blvd.

Market Overview:

The median price (sold) for this area is at $206,000 (Feb 2009), also down from a little over $300,000 from two years ago.  Demand is moving at around 20 homes SOLD/month the past twelve months. Number of sellers are still low compared to past years.

3. South Reno (South Meadows Parkway); MLS area 143

DIRECTIONS--take 395 South, exit on 60-South Meadows Parkway or exit 58-Damonte Ranch Pkwy.

Market Overview:

The median price (sold) for this area is at $278,000 (Feb 2009) down from $350,150 two years ago.  Supply and demand remain relatively lower compared to the past few years.                                                  

Many communities around South Meadows Parkway are in the $400,000-$750,000 market range, making lower priced homes ($280,000 and below) highly desirable.  There are three listing last time I checked.  I suggest to make a  quick offer if you find one.

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          Interested in looking for homes in these areas? Call Joe Salcedo today! 775-338-7653                                  

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