Hi everybody, I'm Phillip Goodman.
- I'm Chris Concha
- And we are from the Nevada Real Estate Group
at Keller Williams Group One Inc, in Reno Nevada.
Today Chris and I are at The Whispering Vine
in Northwest Reno
for the July 2019 real estate market report.
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Well in just a bit,
Chris and I will take a look inside Market Insights
and show you what happened in Northwest Reno in July 2019.
- And don't forget to hit the
subscribe and like buttons below.
- But before we do that, let's show you The Whispering Vine.
- Lets go!
- [Phillip] This is one of four Whispering Vine locations
and this 4th Street spot
is the only one with a full kitchen.
The Vine offers sharable plates like flatbreads,
and short rib sliders, and tacos,
as well as full entrees like burgers.
There are thousands of wine labels from all over the world
and the friendly wine experts will help you
select the right bottle for your occasion.
Personally, I'm a fan of all things scotch and whiskey,
what about you Chris?
- I'm a whiskey guy.
- Well, good news, because Whispering Vine has an
amazing assortment of single malt scotches,
Irish whiskey, Japaneses whiskey, American bourbons,
it's all here. And best of all, Whispering Vine will match
the advertised prices of the big box stores.
Whispering Vine also features their own
barrel select bottles of certain bourbons and other spirits.
These are definitely a must try.
And if you're early enough to grab a seat
at the bar, you might catch some magical sunsets.
And if you're thinking of having an event soon,
you should have it here in
the banquet room at the Whispering Vine!
- There's actually plenty of space here in the banquet room,
and it can accommodate up to 60 people.
- Well Chris and I just ordered some food,
while we are waiting for that to arrive,
let's take a look inside Market Insights
and see what happened in July.
- [Chris] 87 units sold in July,
a modest increase over last month's 81,
and last year's 83.
The median price hit a three year high at $408,000,
after sinking to $377,000 in June.
We looked into the increase and found that
of the 87 units sold,
more than half of well over $400,000,
including 13 homes that went for over $500,000
and one home that fetched $930,000.
Percent of ask received is still hovering near
that 98.6% range,
as it has been for the last three months.
In fact, 2019 has been
very steady in that 98+ area.
Days on markets cooled off a little bit from June,
yet we're still not seeing the same market velocity
as fast as last summer.
Even though new listings in July went up to 6% to 115,
the total inventory is down 2% because of extra sells.
Both of these figures are still higher
than where they were last year.
So putting it together, prices went up,
properties went faster,
inventory is falling,
and the months supply of inventory
at 2.2 is still a sellers market.
If you got a house in Northwest Reno
that you're thinking of selling,
now is a good time to put it on the market.
- [Phillip] And for more market reports
click the link you see in the upper right corner now.
We have ordered a bunch of food,
we've got the short rib tacos,
the grilled cheese and tomato soup,
the Angus burger with arugula, melted brie,
and the bacon jam on the side, for me,
truffle tater tots with ranch,
wild mushroom flatbread,
and a goat cheese, orange salad.
You ready to dive into this?
- Yes, let's dive in!
- Well, we are sharing this with our production crew,
this is not all for us, but yeah, let's eat!
I wish we could look back at this meal again!
This was incredible! What was your favorite dish?
- I love the tacos.
- Those Korean short rib tacos.
- Yes.
- Those are delicious.
My favorite is the burger
and I have heard from a lot of people,
being around town,
that the best burger in Reno is right here
at Whispering Vine.
- It is amazing.
- Absolutely, well for more information
about Whispering Vine you can find their info
in the YouTube description below and we can't thank
the Whispering Vine enough for allowing us to
film our market report here!
So we hope you will come check out the Vine for yourself.
- And when you do be sure to ask your server
about the unique history of this property.
- A lot of history goes back to the early 1900's.
Well, that will do it for us this month for the
Nevada Real Estate Group at Kelly William Group Inc
in Reno Nevada, I'm Phillip Goodman.
- I'm Chris Concha.
- We'll see you at The Whispering Vine!
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[Speaking Spanish]