Here we take a look at the most recent market statistics for the Reno/Sparks area:
In May, the total number of single family home sales in the greater Reno/Sparks area was up 3.5% from April. The median sales price of $284,950 in May is at its highest point over the past six months, marking a 5.1% increase from April and an 8.8% increase since December 2014.
There was a sharp increase in the number of homes available for purchase in May, totaling 881 for the month. This development bucks the trend of decreasing available listings, where we saw available listings decrease each month since December 2014. Typically inventory levels begin to rise as we get further into spring, and we definitely reached that point in the market at this point in May. Also, the outlook for more new home construction is positive as we head into the peak building season, which should provide some relief for our region’s constrained inventory.
The month of May average days on market was 92, which is a slight decrease of 95 from April. The average days on market has been relatively stable for the past several months, with January recording the highest average days on market of 125 over the past six months.
All the ups and downs when buying or selling a home can be a challenge to understand. 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 local prices and trends to help you negotiate the best deal.
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. Check out our website and connect with us on Facebook, Twitter, or LinkedIn!