Let’s look at the Reno-Sparks housing market and compare March 2015 with March 2014.
Dickson Realty Market News April 16, 2015 from Dickson Realty on Vimeo.
The small number of homes available for sale in the greater Reno-Sparks area is definitely having an impact on our median price and days on market statistics. The median price is up 18.4% from a year ago, and days on the market, or the time it takes to sell a home, is down 9% from last March.
What helps to drive both of these numbers is an increase in the total number of homes sold, which in March was up 10.1% from March of last year. Also in play is the number of new listings that go on the market. For March 2015, this number was down 6.5% from last year, resulting in a 4.2% reduction in available inventory.
What does this mean for you? Well, fewer homes on the market increases demand, and contributes to rising home prices. The Reno and Sparks area continues to be a strong sellers market, making it a great time to sell your home.
For buyers, the good news is that 30-year interest rates remain low, and are actually down more than half a point from last year. If you’re in the market to buy, the first thing you should do before heading out to look at homes is to get pre-qualified by a lender. You can contact an Eagle Home Mortgage expert at our Dickson Realty offices in Reno and Sparks to get pre-qualified.
With inventory at historic lows, being first to know about a new listing is beneficial. Both the Dickson website and our mobile app are updated every 30 minutes with new listing activity. Contact one of our Dickson 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.
Whether you’re thinking of buying or selling your home contact one of our many experienced Dickson agents today. We are the local market leader and have been assisting buyers and sellers for more than 40 years.
Thanks to our video segment sponsor, GCO Carpet Outlet.
