$400,000 - $500,000 Reno Market (2 Year Chart)

Summary: Supply is down -33.8% from two years prior, while demand is down -19% -- not a good sign of things to come. Months supply of inventory is at 10.5 months. 

If you're selling a home, price it at the top three in the neighborhood and make your house look as best as possible, otherwise it will pass like a ship in the night.  Make sure you have a strong marketing plan.

Supply: (Click image to enlarge)

Number of homes for sale in Reno $400k - $500k

Sept 2010: 159
Aug 2010: 164
Jul 2010:  159
Jun 2010: 164
May 2010: 157
Apr 2010: 161
Mar 2010: 153
Feb 2010: 139
Jan 2010: 131
Dec 2009: 130
Nov 2009: 145
Oct 2009: 154
Sep 2009: 154
Aug 2009: 164
Jul 2009: 177
Jun 2009: 183
May 2009: 175
Apr 2009: 177
Mar 2009: 172
Feb 2009: 176
Jan 2009: 178
Dec 2008: 175
Nov 2008: 190
Oct 2008: 226
Sep 2008: 240

Demand: (Click image to enlarge)

Number of homes sold in Reno $400k - $500k

Sept 2010: 17
Aug 2010:  13
Jul 2010:  17
Jun 2010:  24
May 2010:  20
Apr 2010: 14
Mar 2010: 11
Feb 2010: 13
Jan 2010: 10
Dec 2009: 14
Nov 2009: 8
Oct 2009: 14
Sep 2009: 10
Aug 2009: 15
Jul 2009: 13
Jun 2009: 12
May 2009: 9
Apr 2009: 13
Mar 2009: 4
Feb 2009: 9
Jan 2009: 3
Dec 2008: 13
Nov 2008: 8
Oct 2008: 12
Sep 2008: 21

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

Months Supply of Inventory in Reno $400k - $500k

Sept 2010: 10.5 months
Aug 2010:  7.3 months
Jul 2010:  11.2 months
Jun 2010: 7 months
May 2010:  9.6 months
Apr 2010:  6 months
Mar 2010: 7.3 months
Feb 2010: 12.1 months
Jan 2010: 7.6 months
Dec 2009: 11.3 months
Nov 2009: 8.4 months
Oct 2009: 10.5 months
Sep 2009: 8.5 months
Aug 2009: 9.9 months
Jul 2009: 10.3 months
Jun 2009: 9.6 months
May 2009: 11.8 months
Apr 2009: 12.5 months
Mar 2009: 13.3 months
Feb 2009: 16.4 months
Jan 2009: 9.9 months
Dec 2008: 24.7 months
Nov 2008: 22.7 months
Oct 2008: 8.9 months
Sep 2008: 11.5 months