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.
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.