Reno Housing Market Benefits From Tax Credits

Posted by Katie Shaffer — July 8, 2010

1278626624LAKE TAHOE, Nev. (July 8, 2010) – Reno-Sparks saw a 16 percent increase in homes sold in the first half of 2010 and experienced an eight percent decrease in average and median prices, according to Chase International’s mid-year report. Carson Valley experienced a 21 percent increase in homes sold.

“A lot of first-time home-buyers took advantage of the federal tax credit,” said Sue Lowe, corporate vice president of Chase International. “There’s been a lot of movement in the last six months and while prices are still down, inventory is going down, so we’re hoping to see things flatten out soon.”

The average price of a home in Reno-Sparks is $212,237 (down from $231,817) and the median is down to $175,000 (from $190,000 last year). Homes selling for less than $1 million are up 17 percent. Condominium sales under $500,000 are up 49 percent.

A complete breakdown of Chase International’s year-end sales report can be viewed at www.Chasenation.com.

Headquartered in Lake Tahoe, Nevada since 1986, with eight offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe and Reno) and one in London, England, Chase International and its exclusive affiliations handles a large share of the country’s property. A recognized leader in the world of real estate, Chase International has once again taken the reins of cutting edge technology by launching www.ChaseNation.com, the first interactive social networking website created by a real estate brokerage as a vehicle for direct interaction with consumers online.

With 225 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels. For more information about Chase International visit www.chaseinternational.com.

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