Let’s take a look at the most recent housing market news, highlighting this year’s sales activity through August 31st for all homes in the Reno/Sparks region, and how this year stacks up against 2013 and 2012.
The market has been very good for sellers for quite some time now. But if we step back and look at the bigger picture, we’re experiencing a slight flattening of the sales pace, year over year. 2012 had 4,071 sales, 2013 had 4,060 and this year 3,957 through August 31st.
When looking at the Median Sales Price, we are still experiencing year over year gains, but there is a slight slowing of the pace. The 2013 median sales price of $209,000 through August was an astonishing 31% higher than the 2012 median. However, the 2014 median sales price of $239,000 is 14% higher than 2013. While Median Price continues to climb, it is at less than half the pace of prior years.
So, fewer homes are selling, median price increases are slowing, and available inventory is gradually building. What does this mean for buyers?
First, you need to be pre-qualified for a mortgage before you begin searching for a home. You can contact an Eagle Home Mortgage expert at our Dickson Realty offices in Reno and Sparks to get pre-qualified.
Being first to know about a new listing is still very beneficial. Both the Dickson website and the Dickson Mobile App are updated every 30 minutes with new listing activity, and we notify buyers with listing matches every hour. Contact one of our Dickson expert agents to find out how easy it is to setup a search or download our free mobile app from the Apple or Google stores to get started.
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