Old Southwest Home Values Grow 16%

Posted on Saturday, August 15th, 2015 at 12:27pm.

Old Southwest Home Values Grow 16%  

Keeping track of home prices in the Old Southwest area? Here are key statistics and analysis of the current real estate market in this part of Reno. 

 

What's My Home Worth?

 

Old Southwest Housing Market Summary

Reno - Old Southwest 1st Half - 2014 1st Half - 2015 % Change
Number of Homes Sold 87 102 17%
Average Days on Market 97 93 -4%
Highest Price $ 1,459,000 $ 1,550,000 6%
Lowest Price $ 140,000 $ 156,000 11%
Average Home Price $ 310,646 $ 359,269 16%
Median Home Price $ 275,000 $ 320,000 16%
Sold Price / List Price % 96.9% 98.5% 2%

 

Summary of Market Statistics

  • Number of homes sold - 102 homes were sold in Old Southwest in the first half of 2015, an increase of 17% from the first half of 2014.

  • Median Home Price - Median home prices rose 16%, approximately the same rate of increase for all Reno single family homes in that period of time.

  • Sold Price / List Price % -  Negotiation flexibility between buyers and sellers increased 1.6%. In other words, sellers realized an average of $5,120 closer to  list prices.

High and Low Home Price Summary

  • 1st half of 2015 Highest Priced Home Sold - Located at 888 Mt. Rose Street, this six bedroom, eight bathroom residence of 7,676 square feet sits in the thick foliage of a three acre lot.

  • 1st half of 2015 Lowest Priced Home Sold - The one bedroom, one bathroom house at 1230 Watt Street, built in 1930, is 715 square feet of old-fashioned blue clapboard siding and red brick.

  • Currently Listed - Highest Priced Home Sold - Built in 1907, this eight bedroom, 14 bathroom mansion of nearly 18,000 square feet is located at 631 California Avenue. Augmented by a decade of painstaking restoration and situated on the Truckee River, this residence offers both a spectacular interior and spectacular views.

  • Currently Listed - Lowest Priced Home Sold - This compact offering of 1,275 square feet at 503 Modoc features two bedrooms, one bathroom and a separate garage. The partially landscaped backyard features a covered patio.

Old Southwest Listings - Active and Sold

We update our current listings daily and archive records of every home sold in the last 180 days. The links below allow you to review listings with descriptions and photos:
 

Professional Guidance

We help home buyers and sellers near Old Southwest from our office in Reno, NV. We are familiar with every neighborhood in the area, including Alum Creek, Mayberry Meadows and River Bend. If you have questions or need further assistance, please give us a call!
 

Additional Resources

Leave a Comment