Here’s a quick look at the Reno/Sparks housing market. Thank you to our segment sponsor A&H Insurance.
Dickson Realty Market News May 14, 2015 from Dickson Realty on Vimeo.
The median sales price for homes sold in April experienced a nearly 1% increase from March, 2015, and an 18% increase over April, 2014. For Condos, the median price increased 13.6% from March to April.
The number of Homes and Condos that sold also increased in the month of April. While the average days on market was slightly lower for April, it has been fairly stable for the past several months.
All of these numbers, combined to help reduce the overall supply of available homes to purchase. According to the Reno Sparks Association of Realtors, inventory was 2.9 months of unsold homes at the end of April. However, this calculation includes homes that are in contract. When we look at only homes that are available to make an offer on, the available inventory slips to just over 30 days for homes and less than 30 days for condos.
Mortgage interest rates are still incredibly low, so it is a great time to buy. You’ll want to work closely with your lender and your Dickson agent to make sure you are well positioned when making an offer.
It’s an even better time to sell, while inventory is very constrained. Your Dickson agent can help you set the right price, and help you understand how to negotiate the potential of multiple offers. Whether buying or selling in the current market, you need an expert counselor on your side.
An experienced Dickson Realty agent, along with our award winning website and mobile app, can help you navigate the process. Contact one of our agents to get the very latest information about your neighborhood home values. You can trust the experts at Dickson Realty. We’ve been assisting northern Nevada buyers and sellers for more than 40 years.