With enrollments on the rise and the attraction college towns hold for retiring baby boomers, experts are predicting that such locales may be great long term investments. (Another good reason to buy in Reno!) read it
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At a recent sales meeting, our operations director whipped out a fascinating set of charts. It turns out he has access to a sophisticated database package that does a far better job analyzing sales data than I can given the limitations of a simplistic MLS interface. The net message? Median prices for residential real estate in the Reno-Sparks metro area have generally trended downward since July 2005. From $340K in July 05 to $313K in May 06, days on the market went from 54 to 70, and inventory from 4,006 to 6,070. Number of units sold went from 700 to 430, and expireds from 320 to 824. Interesting changes...
Okay, okay... vacation's over. (Actually, it's been over for a while now. I've just been in denial about this whole going-back-to-work concept.) And the Reno market? It perked up in June. Though we still have tons of inventory, especially in the over $500K range, sales picked up and absorption rates improved. read it
