Hi everybody! PhilLip Goodman from the Nevada Real
Estate Group at Keller Williams Group One Inc in Reno Nevada and today I'm
with our Sales Manager Mr. Kerry Herdt. How are you today? I'm doing great Phillip
how about yourself? I am fantastic. You ready for the holidays? I am so ready I'm
here here ready to spend time with my family friends and just have a
tremendous time here. Before the holidays come to a close let's take a look at a
new area. We're going to take a look at the market activity in Old Southwest
Reno so first we're going to show you exactly where that is on the map, we'll
take a look at the sales activity, and of course our featured property of the
month so let's dive right in. Since this is our first market report for the Old
Southwest section of Reno we want to show you exactly where these borders are.
Old Southwest borders West McCarran and Virginia Street on Midtown, Plumb
lane straight across so then of course the Truckee River. Kerry, this is a very
diverse pocket economically and geographically. What types of homes do we
see in this area? There's older homes from built in the 1800s
and all the way up to these brand-new lofts that are coming down to Midtown
that are in the upper $600,000 range so you got everything in between those. We
have houses that are $13million also within this. So wide range of properties.
Here we are inside market insights for the Reno Old Southwest
area and we are only looking at single-family homes. We did pull up
condos there were only 25 sold all year and they were considerably lower priced
than our single-family home. So, Kerry take it away. Well median home price is
just under $430,000 which is down about 17% from
October but still up almost twelve percent from last year's $385,000. Percent
of ask received is down a full point from October and last year but still
strong at almost 98%. Inventory levels were nearly double what they were
last year this could be because this area is in an older community and more
and more families are downsizing, relocating or trying to
cash out on the equity they built out over time. Month supply of inventory sits
at 3.1 months, down from October and nearly double from last year. It's still
a seller's market. Here we are on our website seerenohomesforsale.com
and our featured property of the day is a 1250 Davidson Way in Reno.
Kerry what can you tell us about this property? Well this beautiful home built
in 2003 is a four-bedroom two-bath just under 2500 square feet and priced at the
midpoint around $565,000. As you can see from this
beautiful property has a great great garden and it has this beautiful
stream running through it and it's located right in the heart of Old South
West. You are perfectly equidistant from Midtown and two Whispering Vines to the
west. That's correct Phillip. As you can see
look at this beautiful kitchen here as well. It's updated, modern ready for you
to move in. Very colorful so there you have it that is your look at Old Southwest
Reno and if you have any questions about the numbers we've looked at or if
you want to take a look at any of the properties in the area you can contact
Kerry at the information you see on your screen now. Kerry you mentioned you're
gonna spend time with your family over the holiday break. What will you be doing?
One of the great things that I'm gonna go out and do is I'm gonna spend time at
Winter Fest. It's down at Greater Nevada Field and it's open to everybody.
Family friendly until January 7th. You can ice skate, you can ride the train, and
they have a little Santa's Village. Even though it's after Christmas they'll
still have all that stuff up and running And that goes until January. I even
brought my hockey skates from California I'm gonna have to go out and skate
outside. I am NOT a skater I wobble like this. We call that a
bender; your ankles bend. Oh no yeah that's very true Phillip. Nice nice well
for any more information or if you're ready to go look at properties in the
old southwest area you can contact Kerry again at the information you see on your
screen now. For the Nevada Real Estate Group at Keller Williams group One Inc
in Reno Nevada we wish you a safe and happy holiday
season and we'll see you in 2019.