Million Dollar Home Sales Continue to Rise
Reno, NV -- (SBWIRE) -- 10/10/2013 -- The median price of a home in the Reno-Sparks area leapt 31 percent to $210,000 during the third quarter. The sale of million dollar homes also continues to climb, up 231 percent, according to a report released by Lake Tahoe-based real estate company Chase International. "Anyone looking to buy or sell real estate Reno should turn to us for assistance as we have the expertise needed to handle properties of this type," Katie Shaffer of Chase International declares.
The figures, comparing the first three quarters of 2013 to the same time frame of 2012, show a 30 percent rise in overall sales volume in Reno-Sparks, but a one percent decline in units sold. The disparity is a result of the overwhelming increase in sales of homes sold for more than a million dollars and a lack of inventory in the lower price ranges. According to the RSAR, the Reno-Sparks region only has a three and a half month supply of homes within the lower price ranges, whereas a balanced market offers a five to seven month supply and this benefits the luxury market in numerous ways.
"The luxury market seems to be making a comeback," said Sue Lowe, corporate vice president for Chase International Real Estate. "There's a noticeable increase in California buyers looking to benefit from Nevada's tax advantages." Nevada has no personal or corporate income tax and no succession or inheritance with the IRS, only two of the many benefits of residing and/or owning a business within the state. Property taxes remain low in the state also, another reason many choose to call Nevada home.
According to the National Association of Realtors, sales across the nation are at the highest pace since February 2007, and have remained above year-ago levels for the past 26 months. "Many factors account for this increase, including low mortgage rates and a reduction in foreclosure rates. Pent-up demand plays a role in the increase in home sales," Shaffer continues. "Buyers continue to be confident that now is the time to buy when looking at these factors."
Carson Valley experienced a 31 percent increase in volume sold, with a 33 percent rise in homes sold for more than a million. The median price of a home in Carson Valley is up 28 percent to $250,000. "Home owners who have been waiting out the housing market crisis find that now is the time to buy, thanks to the rise in median home prices. Ensure you get the most for your home by making use of Chase International. Our team of realtors have the experience, certifications and affiliations needed to produce successful sales," Shaffer states.
About Chase International Reno, NV
Headquartered in Lake Tahoe, Nevada since 1986, with ten offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Graeagle, Truckee, South Lake Tahoe, Carson Valley and Reno) and one in London, England, Chase International and its exclusive affiliations handle a large share of the country's property. A recognized leader in the world of real estate, Chase International continues to grow, having added 65 Realtors to their ranks in the past twelve months.
With 240 professional Realtors boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels.