RSAR’s monthly market reports – May 2010

May’s monthly market reports for Reno and Fernley, Nevada have been published by the Reno-Sparks Association of REALTORS®. (see links below)
Additionally, the new “Premium Report” for Reno has been published.  The data hounds should enjoy the additional graphs and tables included in the Premium Report.  
As an example, here is a five-year graph of the sold price per square foot by month.
 

Reprinted with permission by the Reno/Sparks Association of REALTORS®.

  • Click here for May 2010’s Reno Monthly Market Report
  • Click here for May 2010’s Fernley Monthly Market Report
  • Click here for May 2010’s Reno Premium Report

 

15 comments

  1. bob_c

    guy,

    you’re on the front lines….how does the market feel?

    i can tell you that things feel like they are double dipping in my business–though it hasnt come through in the numbers yet

  2. MikeZ

    $/sq. ft. looks pretty stable, doesn’t it?

  3. Sleezy

    Actuallly price / sqft is still trending down

  4. Sleezy

    Even if the price/sqft does go up, it doesnt necessarily mean it’s stable. It could simply be the result of less inventory in the lower price bands as a result of the recently expired tax credit..

    Much like guy suggested we may see an increase in median as well…
    Mike you should try to read between the numbers, and stop taking them so seriously…

  5. MikeZ

    RE: “Mike you should try to read between the numbers”

    That’s code for “I don’t accept the data.”

  6. Guy Johnson

    bob_c,
    Not seeing evidence of a double-dip yet. Unit sales appear to be dropping, but median sales price still holding steady.
    – Guy

  7. Reno Ignoramus

    Are they really asking $75,000,000 for the John Harrah property?

    That’s not a typo?

  8. Martin

    Yep, RI it appears they are.

    With $15,000,000 down, and the balance at 5.5% over 30 years, the monthly payment is $340,000.00.

    Good thing mortgage rates are so low.

  9. bob_c

    10 year bond at 3.03% what is the market afraid of—this is getting japan like

  10. bob_c

    2.98% in over night trading whats up

  11. Paul

    Bantering Bear, take notice! This is from Carole Madrid’s Website Incline Village Now (Same office as Don Kanare no less)
    “The ultra luxury market is heating up. There have been 4 closed sales with 3 of these selling over $11 million, and there are currently 3 pending sales with a listing price at $4.5 or higher.
    Is this the harbinger of a new bull market in real estate? Hard to say from only a few sales; however, it certainly is one more indication that our market is in the early stages of a recovery.
    The last upward cycle in real estate prices in Incline Village began in 1997 and peaked in May 2006. At that time, it was the return of confidence by wealthy investors that pulled the market out of the doldrums. You can wait a year or two for confirmation of the new bull market in real estate; however, in our opinion, prices may be substantially higher at that time.
    If you are you ready to buy now, please allow us to help you find the perfect property to meet your needs and suit your budget.
    Have a wonderful week!”

  12. Zen

    Paul,

    That’s great news! It’s official, thanks to you, I just got my 20,000,000 nickel for every real estate agent that told me the market has bottomed and that I need to run right out and have them help me buy some property. Now I’m a millionaire, will you help me spend my money on some overpriced property?

  13. bob_c

    stag-hybrid inflation/deflation (both at same time)

  14. smarten

    Well let’s not forget our friend Don Kanare [ http://www.insideincline.com ]:

    “Looking back at the past week, the Incline Village real estate scene had a nice dose of activity. 13 properties went into escrow on the MLS with six of them being houses and seven condos. The prices range from $98,000 all the way up to a little bit over three million dollars showing a nice spate of activity across the board. With 17 new listings and five of them being repeats, the number of properties going into escrow actually exceeded the net new listings once again. What makes this special is that it took place during a week when we had a lot of new listings, not just a handful like back in early spring.”

    I make no comment. I’m just sharing some data as reported by a fairly reliable source for this kind of stuff.

  15. Real Estate Website

    3.97% in all night night can we trading. whats up man. Its nice

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