Attention: only 34 homes in Reno priced from $100,000 - $170,000--and it's not summer yet!

"Reno real estate market has high demand in spite of the fact that unemployment hit 13%  in our city."

Only 34 homes are available in Reno.

Conditions in the search:

• Site stick built only (no manufactured or condos)

• Homes that are active; no pending sales/contracts.

• Price: $100,000 - $170,000

• 3+ bedrooms

• 2+ baths

• 2+ garage

• Built in 1990 and above.

• Association fee: $50/month maximum

• Included: short sales, bank owned and regular sales.
  

In my experience working with a lot of buyers, the above list is the basis for a lot of first time home buyers looking for a home in Reno. 

This price range is IN DEMAND: Reno Homes--$100,000 to $170,000




Reno real estate Growth in units: this year vs last year:

(click to read notes and to enlarge)


This supports the fact that there is high demand for Reno real estate.

(click image to enlarge)

And as I've mentioned in my past posts, supply is depressed.  Supply has been creeping down for the last four years.  No, it's not true that we have too many homes for sale in Reno.

And all these positive news in the Reno real estate market in spite of the fact that unemployment in our city hit 13% not too long ago.  Commercial real estate took some hard beating (although there are also some signs that it might be slowly picking up).

Mike Larson has this to say about the U.S real estate market: CNN real estate

"All the excess inventory that had built up has been exhausted, and when the supply gets so lean, builders start constructing homes again,"

"We're continuing to see signs of stabilization," said real estate analyst Mike Larson of Weiss Research. "We had this Olympic ski slope-looking plunge starting in 2005 and 2006, and it looks like we're almost getting to the bottom of that."

Are we already over the hump Joe? Not quite. 
Can I apply this when I'm thinking of buying a $350,000 home? Not yet.

But it's time to hope again fellas! 

"In the stock market, people fear when they should and hope when they should fear."--Bill O'Neil, IBD"



Reno areas included in this search (with MLS area numbers):

• Reno downtown core (115)
• Reno-North (119)
• Reno-Old Northwest (120)
• Reno Northwest Suburban (121)
• Reno Northwest foothills (122)
• Reno-West Suburban (123)
• Reno-North Valley (131)
• Reno-Golden Valley (132)
• Reno-Stead (134)
• Reno-Silver Knolls (135)
• Reno-Cold Springs (136)
• Reno-Red Rock (137)
• Reno-Rancho Haven (138)
  
• Reno-Southeast (140)
• Reno-Donner Springs (141)
• Reno-Hidden Valley (142)
• Reno-South Meadows (143)
• Reno-Old Southwest (160)
• Reno-West Southwest (161)
• Reno-Southwest (163)
• Reno-Old South Suburban (164)
• Reno- South Suburban (165)