How’s Our Market Look Now That Summer’s Ending?

 

Our market cooled off a bit during the summer, but now that that’s ending, things should get back to normal.

 

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If I haven’t spoken to you recently, I’m sure you’re hearing all sorts of things about our market. Here’s what’s really going on, though.

Over the summer—just like the last four or five years—the market cooled off a bit. Kids are only out of school for about eight weeks now, so a lot of people prefer to go on vacation during June, July, and August. This means houses that have been hitting the market have been taking a bit longer to sell.

Now that summer’s ending, we should see our market get going again.

To me, that’s not a market correction. That just means things have calmed down a little bit. Now that kids are back in school and people are back into their normal routines and looking for houses again, the market should get going again. We literally just listed two houses that both received offers within the first 48 hours of being on the market.

Home prices have elevated, but in general homes are still priced pretty well. Since rents have gone up so much, you can still buy a house for a lower payment than if you decided to rent.

If you want to know the value of your home or you’re thinking of buying or selling in our market soon, don’t hesitate to give me a call or send me an email. I’d be happy to help you.

First Quarter Market Update for Northern Nevada

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Today, I’m here with a market update for the first quarter of 2016. Depending on who you talk to, you might have heard that the market is on fire. In our area, that depends on your price point.

If you compare the first quarter of 2015 to the first quarter this year, the number of homes sold is almost identical. In 2016, we have only sold 45 more homes than last year. Month by month, the number of sales has been very similar.

Homes are selling faster in some price points than in others. For example, homes under $300,000 are selling extremely quickly. If you’re a buyer in that price point, you don’t have a lot of time to think about what you’re looking for. If you see something you like, you have to move quickly, which is good news for sellers.

As the prices rise, homes are staying on the market a little longer and there’s more inventory to choose from. Homes priced between $300,000 and $500,000 are in a stable market. Anything over $500,000 and $750,000 is definitely taking longer to sell. If you’re selling in those price ranges, your homes needs to be show-ready and you should take care of all repairs now.
 

 

No matter what your specific situation is, we can help. If you have any questions, just give us a call or send us an email. We look forward to hearing from you!

Where Is the Northern Nevada Marketplace Heading?

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We're often asked whether the current market favors buyers or sellers. Today, we want to give you a brief rundown of the numbers for the Northern Nevada area. Market conditions could vary depending on the area you live.

Currently, inventory is slightly lower and the market is leaning in favor of sellers. This is typical of the winter season, as fewer homeowners are listing their homes at this time. Overall, if we step back and look at what our market has done over the last three years, the market has seen great improvements. Prices have risen substantially to the point we're at right now. They have stabilized and we're now in a fairly balanced market.

For those of you looking for more information about your specific market, let us be your resource. We would love to give you an in-depth market analysis so you can make the right decisions in our marketplace. Don't hesitate to reach out to us at any time -- we would love to hear from you!