Let’s take a look at recent median price and days on market trends for the greater Reno-Sparks area.
Dickson Realty Market News May 21, 2015 from Dickson Realty on Vimeo.
In April, the median price for the Reno-Sparks region was $272,500. This is a 7% increase over January, and an 18% increase over April, 2014. According to statistics by the Reno-Sparks Association of REALTORS, the median price has seen a steady recovery since the bottom of the market in January, 2012, but is still 25% off the peak of the market in January, 2006.
The average days on market for April, 2015, was down 4% to 92 compared to 96 in March, and down 14% from April, 2014.
What does this information mean to you? Well, our local market has remained consistently in a seller’s market for more than two years. Interest rates, although rising slightly, are expected to remain at historical lows for another couple of months, and are predicted to climb to approximately 5% by year end. For those sellers who have equity as a result of the increase in property values, the time may be right to talk to a Dickson agent.
If you are in the market to purchase, you can be one of the first to know about new listings by visiting DicksonRealty.com. Or download our free mobile app, where we update listing information every 30 minutes, so you will be sure to have the latest information. Trust the experts at Dickson Realty to get you the information you need, when you need it. We’ve been assisting buyers and sellers in northern Nevada for over 40 years.