Currently there are 981 sales pending in the market overall, leaving 1324 listings still for sale. The resulting pending ratio is 42.6% (981 divided by 2,305).
So you might be asking yourself, that’s great… but what exactly does it mean? I’m glad you asked!
The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in
demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the
Taking a closer look, we notice that the $200K – $300K price range has a relatively large number of contracts pending sale.
We also notice that the $200K – $300K price range has a relatively large inventory of properties for sale at 363 listings.
The average list price (or asking price) for all properties in this market is $586,079.
A total of 3252 contracts have closed in the last 6 months with an average
sold price of $290,184. Breaking it down, we notice that the $200K –
$300K price range contains the highest number of sold listings.
Alternatively, a total of 689 listings have failed to sell in that same period
of time. Listings may fail to sell for many reasons such as being priced
too high, having been inadequately marketed, the property was in poor
condition, or perhaps the owner had second thoughts about selling at this
particular time. The $200K – $300K price range has the highest number of
off-market listings at 215 properties.
Reno_and_Sparks Market Report
Fabulous, well maintained SW home with 4 car garage. Expansive views of city & mountians. Upstairs features 3 bedrooms, 2 baths & spacious great rm w/ hardwood floors, fireplace. Sit on the spacious deck (over 1000 sq ft) and enjoy the view. Large kitchen w/ Viking 6 burner range. Downstairs has large bonus rm, wet bar & brick fireplace + bedroom and full bath. Attached 700sf 2 car garage, plus a heated 2 bay 912 SF detached garage w/ 9′ doors. Solar water heating system. RV sewage cleanout.
Video update. On market conditions in reno/sparks
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My take on whats going on in Real Estate
Great Listing that is Featured on the most current issue of Homes & Land in the Spanish Springs Valley Ranches.
This well situated, grand one story country style home takes advantage of maximum light and unobstructed views. 5 bedroom, 5 bathroom, 6250 SF. Located on 37+ acres, from its high vantage point, you’ll see sparking Sparks lights in the evening, a panorama of the valley, beautiful surrounding homes, our changing seasons & the occasional rain, On 37 acres, at least 34 acres are undeveloped flat land surrounding the home, perfect for developing horse property
THIS WELL SITUATED, GRAND ONE STORY COUNTRY STYLE HOME TAKES ADVANTAGE OF MAXIMUM LIGHT AND UNOBSTRUCTED VIEWS. FROM ITS HIGH VANTAGE POINT, YOU’LL SEE SPARKLING SPARKS LIGHTS IN THE EVENING, A PANORAMA OF THE VALLEY , BEAUTIFUL SURROUNDING HOMES, OUR CHANGING SEASONS, AND THE OCCASIONAL RAIN. ON OVER 37 ACRES, AT LEAST 34 ACRES ARE UNDEVELOPED FLAT LAND SURROUNDING THE HOME, PERFECT FOR DEVELOPING HORSE PROPERTY