Hi everybody, I'm Phillip Goodman
And I'm Kerry Herdt. And we are from the Nevada Real Estate Group at Keller Williams Group One Inc. in Reno
Nevada. today Kerry and I are going to take a look back at the May
2019 real estate activity in Old Southwest Reno. And if this is your first time watching our market reports
Please hit the subscribe button and the notification button below. We'll be putting out a lot of great content this summer
You don't want to miss a single video. Now if
this is your first time be sure to watch the past market report so you can see how the market has been trending.
That's a good idea Kerry. Well, are you ready to take a look inside market insights and our featured property? Let's do this!
Here we are in market insights looking at the single-family homes in the three sections of Southwest Reno.
We want to also have a three-year look-back because some things happened in May that are comparable to a few years ago. Go ahead Kerry.
86 units sold in May 2019, 87 percent more than April and
37 percent more than May
2018 these 86 homes that were sold are the most sold since 83 moved in June of 2016.
The median price climbed back up after winter to
554 thousand which is still down from last year's peaks over
600,000 but if you were to draw a straight line across these peaks
you'd see the slopes still trending upward despite some of the drastic drops.
We knew that days on market would continue to drop with the spring thaw and 98 days is still showing that downward trend.
The drop isn't as sharp as last year's, but it's still a downward trend. We'd like to see
Percent of ask received at 98.8 percent is almost exactly where it was last month and last year.
Even with a hundred and fourteen new listings on the market in May,
The month supply of inventory has fallen to one point eight months because the days to contract has fallen to a mere twenty nine days.
Kerry we knew the market would heat up and speed up, but we certainly wouldn't have guessed you would have sky rocketed like this.
That's right Phillip this area of old southwest Reno
has high value homes that buyers are willing to pay the premium pricing that sellers are asking for. And
to see more market reports. Click the link you see in the upper right corner now.
We are on our website seerenohomesforsale.com for this month's featured property in Old Southwest Reno.
Tell us about it Kerry! This fabulous home at 7 1 1 Gordon Avenue was built in
1938 is being offered at $649,000. It's a 4-bedroom 3-bath just over 2,600 square feet.
This is also in the heart of Old Southwest within walking distance to restaurants, coffee bars, and downtown.
It boasts a ton of character, charm including this appealing large brick fireplace in the great room.
Kerry for a 1938 house, this fireplace and these wood floors are in incredible shape. They're phenomenal!
The edge of the fireplace
connects to the dining room and opens up to this phenomenal kitchen
Kerry I love how this subway tile goes all the way to the ceiling.
They did complete
more than what anybody else does by going completely to the ceiling, and
Also the exposed cabinets and the glass just gives it that extra touch.
This house keeps on giving with an oversized master that features a fireplace
with an updated master bathroom and a deck with views. Yes. The hot tub is included with these wonderful views out the back.
This home also features a full bath and bedroom on the main floor with those beautiful wood floors. I
Like how they've taken those 1938 elements, but also incorporated a whole lot of modern. Yeah it's a little contemporary in there.
And to see listings by the Nevada real estate group. Click the link you see in the upper right corner now.
Well, there's your look back at the May 2019 real estate market activity in Old Southwest Reno if you have any questions about the numbers
that Kerry and I went over, or if you're ready to take a tour of that incredible property.
You can contact Kerry his information is in the youtube description below.
Hopefully you found this information all very helpful
and if you did,
lease give it a share and I like on your social media too.
For the Nevada Real Estate Group at Keller Williams Group One Inc. in Reno Nevada.
I'm Phillip Goodman. And I'm Kerry Herdt. We'll see you next month.