October has arrived and most of the statistics for the overall Reno / Sparks real estate markets remain largely unchanged from September. The median home price is still at $310,000 and the unit sales is still about the same. Get the macro-market details here (worth about 5 minutes of your time – and there is a bit of interesting financing trivia at the beginning).
Now focusing on the inner-city Reno area, the market activity is about the same as it was two weeks ago; but the homes are different. There were two expired listings (some might say they were overpriced and failed to sell, but I like to say the sellers succeeded in remaining the highest bidders for their own home). Five homes sold over the last two weeks – most of them landed at fair market value – two of them actually netted a hefty premium, but I’d like to say that they were in tip-top condition, so keep that in mind if overpricing your home is something you want to do (be prepared to really make it shine).