Let’s take a look at the greater Reno/Sparks housing market and compare April 2015 with April 2014.
The number of sales in April were down four tenths of a percent from April of last year. Days on market to sell a property was down 13.4% year over year, indicating that properties are selling quicker than they were last year. Couple that with the fact that home prices were up 18.7 %, this is great news for sellers!
According to the Reno/Sparks Association of REALTORS, inventory of available homes is down to a near record 2.9 months supply of inventory. That is down from April of last year. However, the number of new listings is up 9.1%, which is more typical for this time of year.
What does all this information mean for you? The fact that inventory is decreasing despite the uptick in listings indicates there are a lot of buyers out there. Although there are more properties hitting the market, the decrease of inventory still makes this a great opportunity to sell a home.
For buyers, the good news is that 30-year interest rates continue to decrease and are down 0.67 points from last year. The first thing you should do before heading out to look at homes is to get pre-qualified. 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 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.
Whether you’re thinking of buying or selling your home contact one of our many experienced Dickson agents today.