In the last week (1/29/13 to today 2/5/2013) there have been 96 new listings added to the MLS in the Reno Sparks area.   54% of those have already been claimed by buyers.

Here’s a breakdown of what is coming onto the market and how quickly they are selling.

Under $100,000                8  were new, only 5 of those are still available

$101,000-$200,000           37 were new, only 14 of those listings are still available

$201,000-$300,000           30 were new, only 17 are still available

$301,000-$400,000           9 were new, 8 still available

$401,000-$500,000           2 were new, both still available

$501,000 & Up                  10 were new, as of today 6 still available

This MLS data shows that homes being listed for sale are selling in record time.  With only 90 active listings under $200,000 in the Reno-Sparks market as of today this price range continues to see over bidding with offers in the first day or so.  I went out to show a property last week within hours of it coming on the market.  While I waited for my buyer to arrive, there were 2 other showings while I waited.  When leaving there was another agent waiting on the porch and another just pulling up.  Needless to say that is one of the pending properties.

If you or someone you know has thought about selling their home, this could be the best window of opportunity for them.  With uncertainly regarding upcoming State Legislation regarding foreclosures, the possible expiration of the Debt Forgiveness Act at the end of 2013 and interest rates on the rise this could be short window of opportunity.

Contact me today for a no obligation market analysis on your home.