Below please find Washoe County, Nevada resale, new home sale, and refinance insured recordings statistics for September 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 September 2014, total new MLS listings decreased another 15%. Non Conditioned Sales & Listings decreased. Short Sale Listings increased slightly but short sale (sold) transactions decreased. REO sales and listings increased a little.
Median Sales Price decreased from $250,000 to $239,000. In Ticor’s chart attached, overall real estate transactions decreased from 788 transactions to 727 in September. New Homes had a slight uptick and Refinance transactions rose considerably.
There are some unique and beautiful developments coming onto the market. Unfortunately there isn’t a huge selection 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. Tesla is big news for residential and commercial agents. They are gearing up and preparing for the next 4 years. The commercial agents are very busy with businesses and investors coming into the market after the Tesla announcement and are looking for land to build on.
Out of 727 resale transactions in September, 31% were cash transactions.