Reno Foreclosure Blog

Market area: Reno, NV. – South Meadows

Appraised property located on Spring Flower Dr

Search parameters:

2 story homes

Gross Living Area:  2122 SF to 2594 SF

Age: 2000 to 2010

Current median price = $258,000

Median price from 6/15/05 to 6/15/06   =  $499,900

Percent decline  =   48%

SALES DATA FOR THE LAST 12 MONTHS

Date Run: 9/2/2010

Base/List Date/Current: 9/2/2010

Foreclosures                        =     7      

Short Sales                          =     21

Arms lengths                        =     9

Total Sales last 12 months    =     37

Percent Special Conditions      =          76%

Percent Short Sales                 =          57%

            Median $         =          $260,000

            Hi $                 =          $305,000

CURRENT LISTINGS  =  31   Median days on market = 65

Foreclosures                       =   4         

Short Sales                         =   15

Arms length                        =   12

Percent Special Condition        =          61%

Percent Short Sales                 =          48%

Median $         =          $249,000

Hi $                 =          $279,000

Low $              =          $199,000

The average annual absorption rate of 3.08 units per month (37/12) was used to calculate the current “Months of housing supply”