Reno/Sparks – NV
When we look at the total number of sold listings, we see a spike in August which had a record number of sales, whereas September and October hovered around 585 sales. When we break that down by type, we see Non-distressed increasing from 433 in September to 468 in October. REO (bank owned) properties decreased in sales from 41 in August to 35 in September and only 28 in October. Short Sales also decreased for the last 3 months. If we look at what percentage of the market these types of sales make up, the numbers are very steady for all types in the last 3 months: non-distresses around 75%, REOs around 6% and Short Sales around 20%. What’s interesting about this is that whether we have a spike in sales or a decrease, the percentages of the market have remained the same.
Truckee/No. Lake Tahoe – CA
During the 3rd quarter of 2013, average sale prices increased month over month, and September’s prices were up 57% over the same period last year. The number of distressed sales continues to decrease, selling much more quickly than last year but also for the most part at lower prices.
As prices continue to rise for all types of homes and condos, now is a great time to sell. And buyers looking for great investment opportunities should take a good look at short sale and bank owned listings. Except for REOs in Reno/Sparks, prices for distressed properties are going down while non-distressed prices are rising.
If you’re thinking of selling your property, contact an experienced Dickson agent today to help you with today. Visit us online at DicksonRealty.com.