It’s definitely a seller’s market.
The best news for sellers in the Reno/Sparks area is that we have a high demand for housing throughout the region. The challenge is that our housing inventory is at an all time low. Lack of inventory with high demand and record low interest rates has helped to raise house values. Short Sales and Non-distressed properties continue to be about 90% of the sold inventory.
We saw a very slight increase in active inventory by the end of March, up 7% from February from 437 to 469. Some of the February pending sales closed in March which increased the number of sold properties for the month to 550 solds, up 18% from last month. The number of Non-Distressed sales increased with REO numbers down slightly and short sales up slightly from 169 sales in February to 172 sales in March. The 330 non-distressed home sales made up 60% of the sales and short sales made up 31%.
Though we had a slight increase of 7% in active listings, 469 is still extremely low. With inventory so low every month, sellers are seeing multiple offers along with higher prices and buyers have GOT to be on top of what’s coming into the market. Buyers are finding prices increasing rapidly and should be able to move quickly.
Actives vs Solds
The BEST way to do that is to go to DicksonRealty.com and create a My Market Account. We update our information hourly so you’ll always be the “first-to-know” when a new listing hits market.
If you’re think of listing your home, or buying this year, contact an experienced Dickson agent. Our agents have the training and expertise to make your transaction as smooth and problem free as possible.