Reno/Sparks Market
We’ve seen a drop in both active listings and solds during this slow time of year. The total number of solds was down 18% from November but of those 558 sold properties in December, short sales were up 19% while REO’s (bank owned) sales were down 3%. Active listing compared to 2012 shows an increase of 32%. While solds for 2012 and 2013 were very close in number (551 compared to 558), there was a dramatic shift in the types of solds: traditional sales were up 40% and short sales were down 99% from 255 down to 128. That means far more traditional sales are taking place and less distressed or short sale closings.
Truckee/No. Lake Tahoe Market
Inventory is up slightly from one year ago, with 362 active single family homes as of December 31, 2013 versus 344 last year at the same time, a modest 5% increase. Short sale inventory is down 75% for that same period (2 currently) whereas bank-owned properties were up, from 5 in 2012 to 9 as of this December 31st. Could this be an indicator that banks are bringing more of their ‘shadow’ inventory on? The number of single family homes sold in December 2013 decreased by 8% over sales a year earlier, with a dramatic drop in distressed property sales, 17 in December of 2012 versus 3 during the same period in 2013.
If you’re thinking of selling or buying, we’re here to help! Contact an experienced Dickson agent today or visit us online at DicksonRealty.com.
