Real Estate Information Archive

Summer is here finally! and I am happy to report that we are selling homes in Somersett.

Here are the latest updates for this great golf course community in North West Reno.

104 homes Active for sale (32 of them in some form of contract) leaving 72 fully active.

Sales Rate (often referred to as absorption rate): 12.33 homes sold per month from April 1st through June 30th.

Months of remaining inventory: 5.83. A balanced market is considered to be 6 months of supply.

Happy home hunting!!

Last evening the Reno City Council acted to keep the public purchase option for the abandoned Northgate Golf Course moving forward and agreed to provide $6,000 for maintenance over the next 6 months.  The Reno Sparks Convention and Visitors Authority closed the golf course and golf course operations in January of this year.

A group of area residents are working to establish a special assessment property tax district to cover the cost of the purchase of this property from it's current owner.  The purchase price for the property is $2.85 million and the proposed assessment district. would raise $2.0 million of the purchase price.  A request will be made to the Washoe County Commission to fund the remaining $850,000 required for purchase of the property.

Please let us know if you have any questions about this purchase.