Now let’s take a quick look at the Reno/Sparks housing market and compare June 2015 with June 2014.
Sales in June 2015 were up 10.1% from June of last year, making it one of the best months for home sales on record. The number of homes sold this month was exceeded only by June of 2005.
Median Sales Price continues to steadily increase, with an 11.4% gain from June 2014 to June 2015. This is excellent news for sellers.
Contributing to the record sales pace is the exceptionally low 30-year fixed interest rate, which for June was down .18% from last year.
Inventory, which is down 4.1% from last June is also partially responsible for the increase in Median Sales Price.
A surprise to many, is the increase in new listings taken during the month. Although down from May, June’s 720 new listings was up 6.5 % from June 2014. This and the low interest rates should make buyers in the market pretty happy.
Finally, the Days on Market to sell a home was down 6%, indicating that properties are selling quicker than they were last year.
What does all this information mean to you? The Reno and Sparks area continues to be a strong sellers market, making it a great time to sell your home.
For buyers, the first thing you want do before heading out to look at homes is to talk with your agent and go see a lender to get pre-qualified. Remember, 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 and homes selling faster, being first to know about a new listing is very beneficial. Both the Dickson website and the Dickson mobile app are updated every 30 minutes with new listing activity. 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 to get started.
Whether you’re thinking of buying or selling your home contact one of the many experienced Dickson Realty agents today. We are the market leader and have been helping buyers and sellers for over 40 years.