- Hi everybody!
I'm Phillip Goodman.
- I'm Sabrina Carstensen.
- And we are from the Nevada Real Estate Group
at Keller Williams Group One Inc. in Reno, Nevada.
Today, Sabrina and I have it made in the shade.
We are outside on a magnificent summer day
at the club at Arrowcreek.
And we've come down here today
because the club at Arrowcreek
is going under a massive expansion project.
We'll show you some of the pictures
of what they're gonna be expanding later on
in our video today, but first we're gonna take a look
inside market insights, tell you what's happening
in the South Suburban Reno Real Estate Market
and of course our featured property here in Arrowcreek.
Sabrina, you ready to take a look inside.
- I'm excited, let's do this.
(dramatic electronic music)
- [Phillip] We're inside market insights
looking at the single family home sales
in Arrowcreek which is part of Reno South Suburban,
so Sabrina, tell us what happened in June.
- [Sabrina] Only 19 units sold in June 2019,
a 10 unit drop from May's end of winter rush.
The median price rose 7% to $783,000,
but this is down from last June's $826,000.
It's tough to judge this area on median price
because there is a big mix
of custom-built million dollar luxury listings
and some planned developments.
The percent of ask received slipped a bit,
to 98.4% which is surprising
because one property listed at $900,000,
actually got $105,000 over asking.
- [Phillip] Sabrina, so too many other sellers
listed too high and then made concessions
of three or four percent.
- [Sabrina] Yeah, it seems to be that way, Phillip.
Days on market jumped back up to 114 days,
after May's drop of 69 days.
This is also surprising compared to last June's 74 days.
New listings are down from last month and last year.
And despite that, the 72 units in available inventory
is the second highest this figure has been
since September 2017.
Fewer listings and declining sales
have driven the month's supply of inventory
up 50% to 3.8 months.
June's market philosophy hasn't totally come
to a screeching halt, but it's definitely much slower
than where it should be for this time of the year.
- [Phillip] Sabrina, it will be interesting
to see what moves in July, August, and September,
since the third quarter is usually the busiest
of the year for Northern Nevada sales.
For more market reports click the link you see
in the upper right corner now.
Our featured property this month for the Arrowcreek area
is none other than, this country club.
- [Sabrina] I'm so excited about this
because they have so many changes right now.
What is happening, Phillip?
- [Phillip] Not only are they adding
a couple of different practice greens,
but there will be a game practice area
that will include bunkers.
Not often do you see a bunker next to the putting green
so you can practice chipping out of the sand
and finishing your putt after.
That's pretty unique to me.
There's gonna be a bocci area,
there's going to be two other fun putting green areas.
A member patio with a community fire pit.
And on the south end, a massive pool complex.
The plans right now,
call for a couple of different pool areas
with lots of shade, cabanas,
and hopefully a bar underneath one of these tents.
- [Sabrina] That's what I'm hoping too.
- [Phillip] So that's on the outside.
On the inside the women's locker room is getting expanded.
- [Sabrina] Lucky for me!
- [Phillip] You're probably gonna get fancy couches
and chairs and big, cool comfortable places to sit.
- [Sabrina] That's what I'm hoping.
- [Phillip] There will be an expanded cafe,
a yoga area, a bigger fitness area,
and it looks like the pro shop will get an upgrade, too.
Then on the north side of the property there will be
a dining/entertainment/event area
that can host up to 300 people.
So they're adding on
over 18,000 square feet of new structure.
- [Sabrina] That's amazing.
- Well, there's your look back at the June real estate
market activity in South Suburban Reno
and we hope you enjoyed our featured property
this month, wanted to do something different.
And the best part, I think Sabrina is you don't have
to live in Arrowcreek to become a member.
- Exactly, that was the biggest selling point for me.
You can live in Carson City, Gardnerville,
Minden, or Incline Village.
- And if you wanna see real estate market reports
for those areas, make sure you hit the subscribe button,
and notification bell and follow all of our market reports.
- And call me.
- Absolutely.
Well, that'll do it for us here
at the Nevada Real Estate Group
at Keller Williams Group One Inc.
We hope you found this information very helpful,
and if you did, please give a share and a like
on your social media too.
I'm Phillip Goodman.
- I'm Sabrina Carstensen.
- We'll see you next month.
- Bye.
(electronic upbeat music)