Reno is still experiencing a strong "seller's market" for homes under $600,000 but we are seeing a few price reductions for homes with lofty expectations. If we look at all of the Reno/Sparks area, the average sales price is $290,000. While it is a small decrease from July, it is 16% over last August.
Now let's dig down a bit deeper into a few hot neighborhoods of Reno...
OLD SOUTHWEST RENO: There are currently 35 homes on the market in the oh-so-cool Old Southwest part of Reno, ranging in price from $220,000 to $16,400,000. 20 of the 35 homes are over $200/sq. ft. Interested in a bungelow in Old Southwest? 15 of the 35 homes are listed under $400,000. See a complete list of Old Southwest Reno homes HERE.
WEST SOUTHWEST (Most of Caughlin Ranch and Juniper Hills): There are currently 36 homes on the market in the prestigeous West Southwest part of Reno, ranging in price from $339,000 to $3,700,000. Just 9 out of the 36 homes are under $200/sq. ft. Looking for the most impressive address in Reno? 16 of the 36 homes listed are over $1 million. See a complete list of West Southwest Reno homes HERE.
NORTHWEST FOOTHILLS (Somersett area): The desirable Somersett area of Reno has 65 homes active on the market, ranging in price from $245,000 to $1,450,000. Quite a few good deals to be found with 26 out of the 65 homes at less than $200/sq. ft. See a complete list of West Southwest Reno homes HERE.
I will explore additional areas in the coming weeks but call me if I may answer any questions you have about a specific area of Reno.