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Things you need to know before you buy

This is an interesting study we have done on home prices in Reno. The text below the line is from August 2005. The data right here is from January 2007. In January 2007, a basic 3 bed 2 bath non-manufactured home can be found in Reno for about $230,000. Nicer, larger 3 bed 2 bath homes are in the $250-275 range. There are some brand new 3 bed 2 bath homes available for around $300K +/-. The real estate market in Reno is dead. There are many desperate sellers trying to get out to avoid forclosure and are willing to take huge losses, sometimes as much as 20-25% of their original purchase price. 2006 turned out to be a bad time to buy in Reno. Prices were sky high and on the way down.

Prices of Reno Nevada Homes

As of August 2005, prices are still climbing in Reno as well as other ares of Nevada and California. Right now in Reno, there is a large market for both used homes, new homes, vacant land, condos/townhomes, and commercial development.

Prices of Reno Nevada Homes

A small fixer-upper type home in Reno, Nevada will run approximately $125,000+. These homes are great opportunities for the first time buyer or investor. Smaller homes or manufactured homes are generally in the range of $150,000-$250,000. A small home (non-manufactured) will cost about $220,000+, while the most deluxe homes Reno cost about $1.2 Million, a far cry from a similar home in Las Vegas that will sell for $4 Million plus.

Lots & Land in Reno, Nevada

Large 40 acre tracts of land can be found outsite of Reno for under $150,000 and represent a great investment for future development. There is a wide range in prices on lots in and around Reno depending on location. Smaller lots are found in the city and carry a higher price tag. Larger lots of 1-2.5 acres can be found on the outskirts of the city for anywhere from about $60,000 to $150,000 depending on location. A small city lot will run $60,000+. If you wish to build your own home, investing in a lot in Reno is a great way to go.

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