We’re bombarded with real estate facts and statistics in the media, but have you wondered just how far your dollar goes when purchasing a home in Reno & Sparks? With this thought in mind I plan to provide a weekly report of 5 homes that closed escrow the previous week within a specific price range. Rather than focusing on a defined area, I’m searching a wide variety of neighborhoods. In the end I’m hoping to help readers develop a reasonable opinion of value as it relates to home size, age and location. Today, let’s look at homes that closed escrow around $700,000 in and near Reno & Sparks last week.
Reno / South Meadows
List Price $716,995 / Sold Price $678,995
9297 Blue Basin
This home consists of 3560 SF, 4 bedrooms, 3.5 baths and a 3 Car Garage. New construction, standing inventory. It was on the market for 290 days and somewhat rare to see builders negotiate price.
Reno / Southwest
List Price $699,900 / Sold Price $685,00
2551 Range View
This home consists of 2990 SF, 3 bedrooms, 3.5 baths and a 3 car garage. The home was built in 2000, Great curb appeal, nice location. It was on the market for 64 days.
Reno / Feildcreek Ranch
List Price $695,000 / Sold Price $699,000
55 Day Lily
This home consists of 2706 SF, 4 bedrooms, 2.5 baths and a 3 car garage. Built in 1991, this well priced single level home attracted multiple offers and sold to a cash buyer. Total days on market = 39.
Sparks / Pebble Creek
List Price $749,900 / Sold Price $700,000
This home consists of 3023 SF, 4 bedrooms, 3 baths and a 6 car garage. Built in 2006. You a lot of house for the money if you’re willing to travel the Pyramid Hwy. It was on the market for 149 days.
Reno / Verdi
List Price $716,319 / Sold Price $716,319
This home consists of 2,724 SF, 3 bedrooms, 3 baths and a 3 car garage. New Construction. One of several thriving subdivisions in Verdi. This was on the market for 292 days.
This price point is currently considered a “Balanced Market” with almost exactly 6 months of available inventory. However, if the home is a single level cream-puff, all bets are off. If you’re crunching numbers, please keep in mind that the market times I’ve posted typically include days that the homes were in escrow (typically between 30 – 45 days). If you found this post interesting, tune in next week when I’ll be highlighting 5 homes that sold for $800,000. To search previous posts and price points visit 5 homes that sold for $600,000. Until next week, Cheers!