3q2010 Home Sales Data for Washoe County Now Onlin...

The latest housing reports for Washoe County are posted here: http://centerforregionalstudies.org/about/what-we-provide/home-sales-activity/housing-sales-report/ Looking at the new home sales for September, the actual number of units sold (18) is really low, down 64% from last year and down 5% from August – but the median sales price of those few units was up quite a bit from last year (and last month).  There isn’t much activity in the new home market right now, but the average transaction price is so much higher than it is for existing homes that it makes me think that people buying new homes are clearly willing to pay a premium for a home that they don’t have to negotiate with the banks for, which is the case with over 60% of the existing homes on the market. For the third quarter as a whole, new home sales were down 72% from 2q, and down 59% from a year ago with only 59 new home sales…at that pace, the area would only absorb 236 homes in a year compared to 3-4,000 in the market’s...

MLS Home Resales, Active Listings, and Distressed ...

We have added a new section to our website which contains several reports detailing Washoe County’s home resale market using MLS data (as opposed to the assessor’s data used for all of our other housing reports).  The advantage of using the MLS data for these reports is that it allows us to look at a completely different set of variables than what the assessor captures, including the number of short sales, the amount of time homes spend on the market, the type of financing used, the active listing statistics, and the inventory of distressed housing on the market. <<CLICK HERE>> to access the new pages on the site, and make sure you’re subscribed to our RSS feed to receive notification of our updates!