With 2/3rd of the year almost behind us, I decided to take a look at year to date sales activity for 2008 and 2009.  The current Reno real estate market is on fire.  Year to date sales in 2008 were 4475 single family properties and year to date sales in 2009 were 9977.  Wow!  This is a 223% increase in 2009 over 2008.

The majority of this increase in sales is in the $200K and less category.  Year to date sales in the $200K and less category in 2008 were 817.  Year to date sales in the $200K and less category in 2009 were 2600.  That's an increase of 318%.  A big Wow!

More interesting statistics.  In 2008 Bank Owned (REO) sales were 755 properties.  In 2009 Bank Owned (REO) sales were 2200.  That's an increase of 291% in sales of Bank Owned (REO) properties.  If you had any doubts about the impact of Bank Owned (REO) sales on our Reno real estate market this should provide a indicator in regard to what is currently driving the market.

For a list of active Reno Bank Owned (REO) properties by visit our website www.RealEstateByGraham.com, highlight the buyer tab and move down to the active bank owned properties drop down tab.

More to come.....