Fallon real estate market steady despite leukemia publicity | TahoeDailyTribune.com

Fallon real estate market steady despite leukemia publicity

FALLON, Nev. (AP) – The number of homes for sale in Fallon has not increased appreciably in the past year, a sign there is no mass exodus because of 14 leukemia cases, real estate officials say.

As of June 25, local real estate firms had 275 homes listed for sale in Fallon and Churchill County, which is close to the annual average of 240 to 260 houses since 1995, the Lahontan Valley News and Fallon Eagle Standard reported Wednesday.

”The statistics are showing that we are holding steady,” said Bob Getto, with the real estate firm of Prudential Ferguson & Getto, Inc.

Other statistics provided by the Fallon Realtors Board indicate while houses are staying on the market longer before they sell, they also on average are bringing in higher prices.

Houses sat on the market for an average of 176 days in the past year before they sold. In 2000, it took an average of 160 days to sell a house and 139 days in 1999.

The average sale price for a home in the past year was $118,554, an increase from the $116,977 in 2000 and $111,888 in 1999, the newspaper reported.

Getto and others have noticed that one housing area that has lagged is new construction. But industry representatives say that sector may be influenced by wider economic factors at work, such as layoffs and a general downturn in the economy.

City Building Inspector Dave Munoz said he issued 24 building permits for new homes at this time last year, six less than the current year.

In the county, building officials have issued 27 permits for single family homes.

Contractor Ben Dotson said he’s working on fewer new homes than in past years and suspects the leukemia cases probably have something to do with that.

”The market is a little slow,” he said on Tuesday.

He said getting to the bottom of the leukemia situation by either finding a cause or concluding that the cases are a statistical anomaly will help the market.

Michelle Adair, executive director of the Chamber of Commerce, said commercial activity is also holding steady.

More than a dozen small businesses have opened recently downtown and companies continue to inquire about locating to the area, she said.

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