Reno Real Estate

By: David Hughes

According to RGJ.com, 'Existing home sales for single-family residences in Washoe County rose by 1.4 percent in February, with 146 re-sales for the month compared to 144 re-sales in January. Existing condo sales saw an even bigger increase, with 51 re-sales in February compared to 44 re-sales in January, a 15.9 percent increase'.
'Median sale prices for existing single-family residences in Washoe County also increased from $290,000 in January to $295,250 in February. Median prices for existing condos increased 6.5 percent from $218,250 in January to $232,400 in February'.
While we are not jumping up and down thinking that the economy has done a turn around, we are happy that the Reno Real Estate market is seeing some positive results.


Despite the increase, sales for existing homes in Washoe County are still down, about 52 percent lower from February 2007. Existing condo sales are up 4.1 from February last year.
New homes sales continue to struggle in Washoe County. Sales of new homes were down 12 percent in February compared to the previous month, and down 88.9 percent from the previous year.
New condo sales were down 7.7 percent in February compared to January and 25 percent lower from February 2007. Median sales prices for new condos were up 11.5 percent in February compared to the previous month but down 2.6 percent from the same period last year.
Another positive sign is that pending sales have been increasing over the last three weeks. The inventory of housing has been going down. So NOW is the time for those buyers that are sitting on the fence waiting for things to get better to jump in and start the buying process. There are some great deals to be had right now in this market.

America Properties
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