Reno-Sparks Home Sales Signify Buyers’ Market
Posted by Katie Shaffer — January 9, 2012
RENO, Nev. (Jan. 5, 2012) – The Reno-Sparks real estate sales numbers for 2011 indicate that the local market is holding steady when compared to year end home sales from one year ago, according to a quarterly report released by real estate company Chase International which has a flagship office located on Damonte Ranch Parkway in Reno.
The National Association of Realtors recently reported that existing home sales rose again in November and remains above a year ago, and the latest Reno-Sparks housing market sales figures concur with this national trend. In fact, while real estate sales and prices continue to see declines, the year-end Chase report indicates a ten-percent jump in units sold in the Reno, a nine-percent increase in Sparks and an 11-percent rise in units sold in Carson Valley.
Although sales are up, the median and average prices continued to drop. The median price of a home in Reno-Sparks is $154,250 (down 11 percent) and the average price is $192,001 (down ten percent). The median price of a home in Carson Valley is $190,000 (down 13 percent) and the average is $243,685 (down ten percent).
The sales and figures of the Chase International year-end report are compared to year-end statistics of 2010 and include all sales in these areas from January 1 through December 31, 2011.
A substantial increase can be noted in homes sold for more than $1 million. Reno saw a 30 percent jump in the number of homes sold for more than a million and the Carson Valley market rose by 50 percent in regard to its sale of homes over $1 million.
“What’s notable about the Reno, Sparks and Carson Valley markets is that the number of units sold is up, indicating increased activity and positive signs the market is strengthening,” said Sue Lowe, corporate vice president for Chase International. “The return of the high-end buyer also indicates the market is turning around.”
About Chase International
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 continues to grow, having added 65 Realtors® to their ranks in the past twelve months.
With 240 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.