In market news this week, we are going to take a look at the trends in median price and average days on market for homes in the Reno/Sparks area from July 2014 through November 2014.
The number of homes available for purchase in the Reno/Sparks region at the beginning of November was 1,300. This is a 12% decrease from the available homes on October first, which is normal as our local market follows a national seasonal trend this time of year. We expect inventory levels to rise after the beginning of the year.
The number of properties sold in November also decreased slightly from October. Median price, however, increased 2%, to $260,000, from October to November.
The average days on market, has been relatively stable since July.
Navigating the ups and downs of the market when buying or selling a home can be a challenge. Having a market expert on your side is an invaluable asset. Your Dickson Realty agent can provide you with up to the minute information about what is selling in your neiborhood, and help you negotiate the best deal.
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