Reno/Sparks Market

The total number of solds was down 26% from 778 in December to 410 January. Not a great way to start the year but…it is the slow season! Of the 410 sold, short sales were down 47% and REO’s (bank owned) sales were up 38% while non-distressed sales were down 25. Active listings saw short sales go from 70 in December down to 45 in January, that’s a 36% decrease, while REO’s were up 15%. We’re starting to see the shift in REO sales which have been very low the past year but now have gained from the previous month from 29 in December to 40 in January. Still, far more non-distressed sales are taking place than distressed or short sale closings with non-distressed sales totaling 73% of the market.

Truckee/North Lake Tahoe Market

The number of homes active on the market as of the end of January this year is up 15% over last year, 3 being short sales or bank-owned, which is exactly the same number as January of 2013. However, on the sales side, there were 27% fewer homes sold in January 2014, with only 3 being distressed property versus 14 sold in January of 2013.

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