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Latest Trends in Reno NV Real Estate Market
The dynamic Reno NV real estate market is ideal to many kinds of home buyers, investors and renters alike. The city has several pricing options and property types for you to choose from. If you like urban living, you will love it here.
Buyers who do not want the sparkle and glitter of Las Vegas will be pleased to know that there Sparks NV real estate and Carson City NV real estate choices that they can can consider. These places are equally suitable for metropolitan city living without the hustle and bustle of the world’s gambling capital.
So, if you are a home buyer, or simply want to invest in real estate in Reno, consider the following information:
· The real estate market is looking great in Reno, almost as good as in Las Vegas compared to the rest of Nevada. Single family homes are sold at an average of $134,000. These homes are usually on the market only for around 100 days or a little over three months.
· Condominium units are sold at an average of $84,000 and usually stay on the market for 109 days before they are sold.
· Estimated median house or condominium value in Reno has steadily risen, from $147,900 in 2000, to $178,400 in 2012.
· The mean prices for specific types of houses in 2011 are as follows:
- All housing units - $256,169
- Detached houses - $287,548
- Townhouse or attached units - $176,920
- In 2-unit structures - $135,189
- In 3 to 4-unit structures - $132,118
- In 5 or more unit structures - $131,824
· The median gross rent in 2012 is about $819.
The implications of the above statistics for property buyers are:
· The areas which have the largest increases in real estate prices based on the last three months are Gardenville, at 5.8%, Pahrump, at 4.55%, Fernlyey, at 4.39%, North Las Vegas, at 1.41% and Reno, NV real estate, at 0.28%.
· The areas with the most significant decreases in real estate prices in the last three month period are Dayton, at 8.53%, Carson City, at 5.04%, Henderson, at 4.06%, Sparks, at 1.23%, and Las Vegas, at 0.48%.
If you will examine these figures carefully, you will see that there are places in Reno where real estate prices are more affordable. However, the general trend is on the upswing. That means, the prices of its real estate are going up.
So, if you have a plan to buy a home in Reno, or invest in a property here, this is the best time to buy. If you will wait a little longer, the price of real estate might just go beyond what you’re willing to pay.
Marshall Realty is a smart sale option arising in real estate Nevada. Choose Marshall Realty for the best value of Reno NV real estate or visit www.marshallrealty.net for accurate information about Carson City Homes.
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