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Weekend Warrior: July 2024
Grilled Stone Fruits with Honey Lemon Yogurt Sauce
What You’ll Need:
- ~1 lb of assorted stone fruit (plums, peaches, nectarines)
- 1 teaspoon olive oil
- 6 ounces of nonfat plain Greek yogurt
- 2 teaspoons honey
- ½ teaspoon lemon zest
- 1 teaspoon lemon juice
- Cooking spray or oil for grill grates
- Fresh mint
What To Do:
- In a small bowl, mix yogurt, honey, lemon zest, and lemon juice together. Garnish with additional zest if desired, and set aside.
- Spray grill grates with nonstick cooking spray, or brush with oil. Heat grill to ~ 500 degrees F.
- Cut each piece of fruit in half around the midline and twist apart. Remove pits. Brush cut side of fruit with olive oil.
- Place fruit cut side down and grill two minutes, until grill marks appear. Using tongs or a flat spatula, turn fruit over and cook on the other side another two minutes. Carefully remove fruit from the grill and transfer to a platter.
- Serve grilled fruit with yogurt sauce and mint.
This healthy, delicious and gluten-free recipe was discovered at JessicaLevinson.com!
June 2024 Market Report
** Data in the JUNE 2024 Market Report reflect market activity from MAY 2024, compared to MAY 2023. Information is gathered from the Sierra Nevada Realtors ® (RSAR) for the Greater Reno-Sparks region via the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com). For reports in other areas of Northern Nevada or specific neighborhoods, please contact me, and I will collect that information for you. Data in this report only accounts for single-family resale residences and excludes townhouses/condos and manufactured/modular.
Please note that the above data shows 9 median Days to Contract for single family homes that closed during May. With an typical 30-35 day escrow period, most of these homes went into contract in April!! The median Days to Contract graph for the Week ending June 8, 2024 (2 graphs below) give a more accurate picture of what the market pace here at the beginning of Summer.
As observed in the graph above, the most recent “weekly” market data shows a significant slow-down in median DAYS TO CONTRACT compared to properties listed in April when DAYS to Contract were 9 in Reno-Sparks. The week ending June 8, the Days to Contract was 17.
SUMMARY:
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- Compared to May last year, the Median Sales Price (MSP) in Reno and Sparks (combined) increased from approximately $555,000 to $596,000, a 7.2% jump year-over-year.
- May closings saw the Median Days to Contract (DTC) in May drop 9% compared to May 2023… 9 DTC in Reno-Sparks combined, 8 DTC in Reno, 12 DTC in Sparks.
- Low inventory and continued Buyer demand drive the rate of sales which resulted in 1.7 Months Supply of Inventory (MSI) in May 2024. Months Supply of Inventory is a measure of the rate of sales. If single family homes in Reno-Sparks continue to sell at the same rate as in May 2024, and no new inventory were added to the market, the entire inventory would be depleted in 1.7 months. A balanced market is 5-6 months.
- From my personal observations over the last month, while homes in some neighborhoods are flying off the shelf, others are taking more time. The temperature market is highly location-based.
- The % of Cash Sales has reached an all-time high of 30% average.
- Mortgage rates are still hovering around 7%. “Inflation data hasn’t been improving. The Federal Reserve has been pushing off rate cuts. Though mortgage rates could still go down later in the year, housing market predictions change regularly in response to economic data, geopolitical events and more.” (CNET.com) That being said, you may have been delaying your purchase or sale long enough, and your move is imminent. Just remember that many lenders are offering free refinancing services when mortgage rates do eventually drop. So if you find that right home at your right time, and the purchase is a financially viable option for you, there is no need to wait. Homes to appear to continue to be appreciate in value!
Is your next home sale and/or purchase happening in 2024, or even 2025? Email me at Denise@DrakulichRE.com or call me at 775-233-0682 so we can begin analyzing the best strategy for YOU!
~Denise Hallerbach, Associate Broker, Better Homes and Gardens Real Estate – Drakulich Realty
Weekend Warrior: June 2024
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May 2024 Market Report
** Data in the MAY 2024 Market Report reflect market activity from APRIL 2024 compared to the previous month and year. Information is gathered from the Sierra Nevada Realtors ® (RSAR) for the Greater Reno-Sparks region via the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com). For reports in other areas of Northern Nevada or specific neighborhoods, please contact me, and I will collect that information for you. Data in this report only accounts for single-family resale residences and excludes townhouses/condos, manufactured/modular, and all new construction.
SUMMARY:
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- Compared to April last year, the Median Sales Price (MSP) in Reno and Sparks combined decreased slightly from $540,000 to $565,000 from March to April 2024, a 4.6% increase year-over-year.
- The Median Days to Contract dropped from ticked down from 12 days in March 2024 to 11 days in April.
- We continue to be in a strong Seller’s Market, with only 1.5 Months Supply of Inventory (MSI). Months Supply of Inventory is a measure of the rate of sales. If single family homes in Reno-Sparks continue to sell at the same rate as in April 2024, and no new inventory were added to the market, the entire inventory would be depleted in 1.5 months. A balanced market is 6-7 months.
- While activity is picking up, inventory is still low. About 1/2 of the inventory we normally see this time of year (prior to COVID-19) serious Buyers are more likely to have some competition when securing a contract to purchase. Having a qualified, experienced agent who has great relationships with listing agents and understands the nuances of writing a clean, compelling offer can often help during those competitive moments.
- Mortgage rates over the last several months have been higher relative to hyper-low rates during the COVID-19 era (hovering at or over 7%). There are grumblings that these higher rates may stay for a while. However, you may have been delaying your purchase or sale long enough, and your move is imminent. Remember, at some point in the future we should see those rates drop, and many lenders are offering free refinancing services when that does happen.
Is your next home sale and/or purchase happening in 2024, or even 2025? Email me at Denise@DrakulichRE.com or call me at 775-233-0682 so we can begin analyzing the best strategy for YOU!
~Denise Hallerbach, Associate Broker, Better Homes and Gardens Real Estate – Drakulich Realty
Weekend Warrior: May 2024
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April 2024 Market Report
** Data in the APRIL 2024 Market Report reflect market activity from MARCH 2024 compared to the previous month and year. Information is gathered from the Sierra Nevada Realtors ® (RSAR) for the Greater Reno-Sparks region via the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com). For reports in other areas of Northern Nevada or specific neighborhoods, please contact me, and I will collect that information for you. Data in this report only accounts for single-family resale residences and excludes townhouses/condos, manufactured/modular, and all new construction.
SUMMARY:
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- The Median Sales Price (MSP) in Reno and Sparks combined has increased from $525,000 to $575,000 from January to March 2024, a 7% increase over the last 2 months.
- The Median Days to Contract dropped from 32 in January, to 20 days in February, to 12 days in March 2024… Bottom line, as we make our way through spring, the market is heating up.
- Months Supply of Inventory dropped 14% month-over-month from 1.8 MSI to 1.5 MSI, indicating a continued Seller’s Market. Months Supply of Inventory is a measure of the rate of sales. If single family homes in Reno-Sparks continue to sell at the same rate as in March 2024, and no new inventory were added to the market, the entire inventory would be depleted in 1.5 months. A balanced market is 6-7 months.
- I am often asked the burning question, “Should I Buy Now? Or Should I Wait?”
- RamseySolutions.com took the words right out of my mouth in a recent article, “Should I Buy a House Now or Wait for Mortgage Rates to Go Down? The basic principle are these:
- You should buy a house now if you are financially prepared.
- Bear in mind that when interest rates do drop, you will see even more competition possibly resulting in overbids.
- With the anticipation that interest rates will be lower in the future, you will likely be able to refinance at that time to lower your monthly payment.
- RamseySolutions.com took the words right out of my mouth in a recent article, “Should I Buy a House Now or Wait for Mortgage Rates to Go Down? The basic principle are these:
Is your next home sale and/or purchase happening in 2024, or even 2025? Email me at Denise@DrakulichRE.com or reach me by cell at 775-233-0682 so we can begin analyzing the best plan for YOU!
~Denise Hallerbach, Associate Broker, Better Homes and Gardens Real Estate – Drakulich Realty
Weekend Warrior: Apr 2024
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March 2024 Market Report
** Data in the MARCH 2024 Market Report reflect market activity from FEBRUARY 2024 compared to the previous month and year. Information is gathered from the Sierra Nevada Realtors ® (RSAR) for the Greater Reno-Sparks region via the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com). For reports in other areas of Northern Nevada or specific neighborhoods, please contact me, and I will collect that information for you. Data in this report only accounts for single-family resale residences and excludes townhouses/condos, manufactured/modular, and all new construction.
SUMMARY:
-
- The Median Sales Price (MSP) in Reno and Sparks are have remained relatively flat through the winter months. Reno’s MSP was approximately $590,000 (approx. 1% increase compared to Jan 2024 and 2.6% increase compared to Feb 2o23) and Sparks MSP was $567,500 (approx. 1/2% decrease month-over-month and 8.5% increase compared to Feb 2023)
- With the Median Days to Contract dropping from 32 to 20 days (down 37.5% compared to Jan 2024) we are seeing a corresponding increase in pending sales. Pending sales are up a whopping 42% month-over-month.
- Months Supply of Inventory plummeted from 2.2 MSI to 1.6 MSI, indicating a continued Seller’s Market. Months Supply of Inventory is a measure of the rate of sales. If single family homes in Reno-Sparks continue to sell at the same rate as in February 2024, and no new inventory were added to the market, the entire inventory would be depleted in 1.6 months. A balanced market is 6-7 months.
- With mortgage rates still hovering around 7%, Buyers and Sellers continue to ask themselves, should I STILL wait to make my next move? A few critical factors should be your guiding force:
- Are you financially stable and qualified? Speak with your financial and tax advisors and your mortgage lender to determine if you’re qualified for a purchase now. Need an excellent mortgage expert? Contact me to find the best in the business.
- Understand that as the spring buying season heats up, if inventory remains low and demand continues (as I anticipate it will), prices are likely to begin increasing again. Now could be the best time to make your move, considering the projection of increased home prices.
- Realize the possibility of refinancing to lower your monthly payment when rates drop again at some point in the future.
- So what is happening with mortgage rates, now, and in the near future? Most mortgage rate experts and real estate economists predict rates will moderate in the next several months. Visit “TheMortgageReports.com” for a more thorough explanation of what the experts are predicting.
Is your next home sale and/or purchase happening in 2024, or even 2025? Email me at Denise@DrakulichRE.com or reach me by cell at 775-233-0682 so we can begin analyzing the best plan for YOU!
~Denise Hallerbach, Associate Broker, Better Homes and Gardens Real Estate – Drakulich Realty
Weekend Warrior: Feb 2024
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