Reno Foreclosure Blog

Market area: Reno, NV. – South Meadows

Appraised property located on Manciano Way

Search parameters:

2 story homes

Gross Living Area:  2,862 SF to 4,292 SF (20% of GLA)

Age: 2002 to 2010

Current median price = $307,500

Median price from 1/1/06 to 1/1/07   =  $517,450

Percent decline  =   41%

SALES DATA FOR THE LAST 12 MONTHS

Date Run: 9/13/2010

Base/List Date/Current: 9/13/2010

Foreclosures                         =     4      

Short Sales                           =     7

Arms lengths                         =     6

Total Sales last 12 months     =     17

Percent Special Conditions       =          65%

Percent Short Sales                  =          41%

            Median $          =          $326,000

            Hi $                  =          $495,000

CURRENT LISTINGS  =  17   Median days on market = 107

Foreclosures                        =   1         

Short Sales                          =   7

Arms length                         =   9

Percent Special Condition         =          47%

Percent Short Sales                  =          41%

Median $          =          $345,000

Hi $                  =          $459,000

Low $              =          $289,000

Marketing periods are increasing and prices are still decreasing. There is currently 17 months of inventory for these age and size homes within a one mile radius of Manciano Way. Six month's inventory is common in a normal market.