Arrow Creek Homes Report: UnAdulterated Report (updated)

(country club in Arrowcreek)

(Author's note: Go to ArrowCreek Homes for a more in depth guide in the ArrowCreek area.  You can search for homes by price range and don't forget to check out the 100 photos around the area.)

(Extra note: We also recently opened a ArrowCreek Homes category here in Reno home blog solely for buyers and sellers interested in the ArrowCreek area, for more formation go to ArrowCreek real estate)

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"This report is for the inquisitive buyer in the Arrow Creek area..."
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About:

This report is for the inquisitive buyer in the Arrow Creek area who is discontent with the general statement, "It's a great/bad time to buy in Arrow Creek!"  I think the market can best answer that.  And that's what I want to show to you here.

This report is also for the seller who wants to better understand the current state of their neighborhood in order to make a better selling decision. (MLS area 165)

Hope it helps.

In this report you will learn:

• Median price of homes sold in Arrow Creek in the last two years.

• Number of homes for sale in the last two years.

• Number of homes SOLD in the last two years.

Observations:

• (March 2010) Months supply of inventory is second to the lowest since two years ago.  A good sign.  More homes are going to be sold.

• (January 2010) Months supply of inventory is down to 4.3 months--a good sign.  Prices are still going down.  $500,000 homes and above are the hardest hit of this real estate depression.

• (August 2009) Demand is still climbing high, supply is down.  Need more sellers in the market.

• (June 2009) Inventory (MSI) is at 4.9 months (2- year low)--a good sign.

• (May 2009) Average price of homes sold in Arrow Creek is  around $500,000.

• (Apr 2009) Demand is up from December 2008.  Supply is down significantly.  Median price is seems to be settling down since February of last year.

• (Mar 2009) From September 2007 to our current month (March 2009) prices seem to have reached a bottom (see: third graph).  If indeed true, this is great!

• (February 2009) Median price sold jumps to over one million.  But we can't get carried away by this.  The past two years still give us a "moving sideways" graph.

• (January 2009) This market is still experiencing tough times.  I could sense the uneasiness in the buyers through the graphs. 

• (December 2008)  Homes sold dips from nine homes in November to four in December.  Median prices are still on a downward trend.

• (November 2008) Median price is showing some stability at around $600,000 since November of last year.  Back in November of 2006 median price was $760,000.  Demand continued to dip after strong summer months. 

• (September 2008) After a good early summer demand, homes sold is back on a downward trend.  Median price is struggling as well. 

• (August 2008) Demand,basing it from the number of homes SOLD, seems to have reached a bottom (see: second graph).

• Even though the demand has caught up median home prices are still in a downward trend.  This is not new.  Historically,demand will always be first to go up before prices.  It is just matter of time until the home prices in Arrow Creek finds a bottom if the demand continues to go up. (This is really fascinating for me, I did not expect this to happen this early)

• Inventory of homes is in a downward trend.  But  I expect it to go up this coming summer months (it's already up in April).

Graph(s):

Number of Homes For Sale

(click image to enlarge)

Number of homes SOLD

(click image to enlarge)

Median Price (SOLD)

(click image to enlarge)

Note:  Basing it on on past reader's experience, you may have additional questions and concerns or would want to clarify something about the Arrow Creek real estate market. 

If you have any other questions, shoot me an email: jsalcedo@chaseinternational.com

Call Joe: 775-850-5900 (ext. 136)

Community Links:

• Arrow Creek Country Club

• Arrow Creek Homeowners Association

* Residential homes site/stick built

Updated: April 2010
Source: Multiple listing Service
Next Release Time:  Every 9'th of the month
Number of updates: 14'th