Reno Real Estate Market Trends
(Updated for 2014)
"A picture is worth a thousand words"
I wrote this post as an instant guide for buyers and sellers interested in Reno real estate. If you are a busy bee and like it simple and clear, this is for you:
Reno-Sparks Percent Change (1979-2012)
[note: data seen in graph below was taken from Federal Housing Finance Agency (FHFA.gov) government website which hasn't made an update on Reno's housing numbers. Hoping they'll make an update soon. But since 2012, prices have gone up significantly -- up 12% from 2013 alone. ]
Monthly House Price Index for U.S. (1991-2012)
Reno Real Estate Supply(2005-2013)
Reno Real Estate Demand(2005-2013)
(Scroll below to see more Reno real estate graphs)
Buying or Selling a home?
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Character
- Peace of mind: Knowing that your agent looks out for your best interest. We will tell you the truth whether it benefits us or not. Intellectual honesty.
- Someone who cares: We've written over 300+ articles in the last 7 years, helping hundreds of people make the best possible decision in buying/selling homes in Reno-Sparks.
- Community:We are part part of a variety of local non-profit organizations like RenoTahoeDigs.com
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- Market knowledge: The Reno Home Blog team studied and followed the Reno-Sparks real estate market since 2006 (median prices, supply & demand and months supply of inventory).
- *First Class Marketing: We have a dynamic marketing team to help sell your home, affliations include RenoSparksRealEstate.com,RenoTahoeAdvertising.com, Zillow. Our commitment is using first class advertising and branding materials to market your home.
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*Note: This is just a small part of our marketing plan for sellers. For complete list, call us at 775-561-4000
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Note: Reno house prices has dramatically gone up in since 2011. But we wanted to show you where we came from based on the graphs seen below. Read our blog for latest Reno housing updates.
Reno Median Sales Price 2006-2011 (New & Existing Homes)
Reno New Homes Sales Price 2006-2011
Reno Foreclosures 2008-2010
Reno Median Price Per Square Foot (2006-2011)
Reno Real Estate Bubble Years (2000-2005)
A year of unprecented real estate growth in home values in Reno-Sparks.
Reno Real Estate Bubble Burst: August 2005
A year of unprecented real estate growth in Reno-Sparks ENDS, followed by a free fall.
Targeted Market Report Divided by Price Range
Each cateogry is divided into different price points that will instantly give you a clear picture on the activity in your specific market.
I've seen sellers who lost tens of thousands of dollars simpy by not knowing when to sell. Back in 2007, a client of mine could've sold her home at a decent profit ( About $20,000), but she decided to wait 'till the market goes back up again. The data clearly showed that the Reno real estate market was still going down. But her price point ($235,000), at that time, had lots of activity making it possible to still net a profit. She decided to hold on to her house for another year or so. The result was she lost her home completely (negative equity).
For buyers, knowing which price points are active and stale gives you an advantage on how to position your offer. For example, if you look at the numbers below, the $100,000 to $200,000 price range, contrary to popular belief, has healthy activity. If you find a really nice house in that price range (top 3 in the market in price and condition), know that chances are you will have other buyers interested in that home. Be more cautious in making a low ball offer.
Hope it helps....(Proceed to Reno Real Estate page)
Reno Sparks Real Estate Bubble (graph) and current median price for Reno real estate
Las Vegas, NEVADA number one in market turnarounds of 2012
Reno Real Estate: Number of Sales (2006-2010)
Reno Real Estate: Median Price Per Square Foot (2006-2010)
Reno Real Estate: Median Home Price 2006-2010
$0 - $100,000 Reno Market (2 Year Chart)
$100,000 - $200,000 Reno Market (2 Year Chart)
$200,000 - $300,000 Reno Market (2 Year Chart)
$300,000 - $400,000 Market Trend (2 year chart)
$400,000 - $500,000 Reno Market (2 Year Chart)
$500,000 - $600,000 Market Trend (2 year Chart)
$600,000 - $700,000 Market Trend (2 year Chart)
$700,000 - $800,000 Market Trend (2 year Chart)
$800,000 - $900,000 Market Trend (2 year Chart)
$900,000 - 1 Million Market Trend (2 year Chart)
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Disclaimer: All information in this Blog are deemed reliable but not guaranteed. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions."