In the Reno-Sparks market, the first quarter of 2013 Sold Property by the Type of Sale is interesting. The number of sales increased each month in the quarter. Bank REO properties took a jump in February, but dropped in March. Short sales remained pretty consistent. As spring gets underway, inventories increase and new Bank REO’s hit the market.
Up in the Truckee-North Lake Tahoe market, the average sales prices are steadily moving upward with almost as many sales in March of 2013 as January and February combined. New inventory coming on the market sells fairly quickly, with ‘days on market’ consistently declining. The exception is short sales, which consistently take several months to maneuver through the various lender channels for approvals.
We hope this information is useful to you when making decisions about buying or selling real estate. If you ARE thinking about buying or selling, please contact one of Dickson’s knowledgeable agents to help you with your real estate transaction.