Below please find Washoe County, Nevada resale, new home sale, and refinance insured recordings statistics for July 2014 provided by our friends at Ticor Title of Nevada, Inc.[Click on the chart below to enlarge.]
Ticor Title’s commentary accompanying the statistics…
For July 2014, Total New MLS listing increased by 5%. Non Conditioned Sales, Short Sale and REO New Listings increased slightly in July. Median Sales Price is the same as last month at $250,000. In Ticor’s chart attached, overall real estate transactions decreased slightly as well as new home sales. Refinances are up by 2 compared to June.
Builders are still being cautious, not overbuilding, and are acquiring land again. There are some unique and beautiful developments coming onto the market. But there still isn’t enough new home developments in the First Time Homebuyer price point, so first time homebuyers are looking to the resale market. The only issue is that we have no inventory in their price range.
Commercial real estate is healthy and is contributing to the real estate market recovery. Some great commercial projects are coming to our market.
Out of 732 resale transactions in July, 30% were cash transactions.
related post: Washoe County insured recordings statistics – June 2014