$200,000 - $300,000 Reno Market (2 Year Chart)

Summary: This price point is still struggling as supply and demand hasn't found a consistent positive momentum (a healthy real estate market has healthy supply and demand).  Homes sold is down -27.1% from two years ago; homes for sale is also down -36.1% comparing it two years ago.

If you're getting in the market make sure you don't have false hopes of immediate recovery.  The good thing is interest rate is not guaranteed to be as low as it is now if you wait too long, hence, possibly higher mortgage payments even if you buy a home at a lower price. Take time weighing the pros and cons.

Supply: (Click image to enlarge)

Number of homes for sale in Reno $200k - $300k

Sep 2010: 505

Aug 2010: 556

Jul 2010: 567

Jun 2010:  528

May 2010: 484

Apr 2010: 487

Mar 2010: 504

Feb 2010: 476

Jan 2010: 466

Dec 2009: 430

Nov 2009: 450

Oct 2009: 494

Sep 2009: 523

Aug 2009: 538

Jul 2009: 557

Jun 2009: 542

May 2009: 578

Apr 2009: 606

Mar 2009: 610

Feb 2009: 634

Jan 2009: 671

Dec 2008: 678

Nov 2008: 736

Oct 2008: 752

Sep 2008: 790

 

 

Demand: (Click image to enlarge)

Number of homes sold in Reno $200k - $300k 

Sep 2010: 70

Aug 2010: 62

Jul 2010:  66

Jun 2010: 83

May 2010: 64 

Apr 2010: 99

Mar 2010: 86

Feb 2010: 43

Jan 2010: 46

Dec 2009: 64

Nov 2009: 87

Oct 2009: 107

Sept 2009:  98

Aug 2009: 83

Jul 2009: 95

Jun 2009: 90

May 2009: 73

Apr 2009: 74

Mar 2009: 75

Feb 2009: 59

Jan 2009: 47

Dec 2008: 57

Nov 2008: 54

Oct 2008: 95

Sep 2008: 96

 

MSI (months supply of inventory): (Click image to enlarge)

Months Supply of Inventory in Reno $200k - $300k 

Sep 2010: 3.4 months

Aug 2010: 4.6 months

Jul 2010:  5.8 months

Jun 2010: 6.6 months

May 2010:  5.7 months

Apr 2010: 4.9 months

Mar 2010: 4 months

Feb 2010: 5 months

Jan 2010: 6.6 months

Dec 2009: 8.3 months

Nov 2009: 5.1 months

Oct 2009: 4.2 months

Sep 2009: 3.6 months

Aug 2009: 4 months

Jul 2009: 4.8 months

Jun 2009: 5.5 months

May 2009: 4.3 months

Apr 2009: 5 months

Mar 2009: 6.6 months

Feb 2009: 6.1 months

Jan 2009: 7.3 months

Dec 2008: 9.1 months

Nov 2008: 11.1 months

Oct 2008: 9.5 months

Sep 2008: 8.3 months