In the Reno/Sparks areas, January saw an extremely slow month for sales with prices also dropping slightly. Active inventory for homes was down 5% and the number of sales was down 28%. The average price was down 4% and the median price was down by 3%. Condos saw an 18% in decrease in sales and active listings were down 8%. The median price was down 12% while the average price remained the same. With prices and active listings down for both homes and condos, buyers need to act quicker than they have in the recent past in order to stay on top of the market’s tight inventory.
Truckee/No. Lake Tahoe Market
Active inventory for single family homes is up as of January 2014 (15% over January 2013), but prices are following. Median prices increased almost $100,000, average prices almost $200,000. The number of homes sold in January 2014 decreased 30% from last year so overall months of inventory is up to 9.2 months.
Condos/townhomes have similarly followed suit, with the highest sale for January 2014 being a condo at the Ritz Carlton at $4,110,000 versus the highest single family residence selling at $3,200,000 at Martis Camp.
If you’re thinking of selling or buying, we’re here to help! Contact an experienced Dickson agent today or visit us online at DicksonRealty.com.