Here’s a quick look at the Reno/Sparks housing market.
The median sales price for single family homes and condos sold in August 2015, showed a flattening of the market when compared with July. However, the median sales price is up 16% from a year ago. Some month over month stability after an annual double digit increase is bringing a little relief to those trying to purchase a home in our area.
The average days on market for homes slightly decreased from 79 to 75 between July and August, and the average days on market for condos decreased slightly from 84 to 79 over the same time span.
The increase in months of inventory for both homes and condos, due in part to more active listings and fewer sales, means more properties are becoming available to potential home buyers. Still, the Reno and Sparks areas remain a strong seller’s market, especially for homes priced less than $600,000.
Recent reports from EDAWN and the UNR Center for Regional Studies predict strong economic growth and a 1.4% annual population increase for the next five years. These factors will contribute to a robust demand for housing. The year over year price increases and low inventory that we’ve witnessed for the past couple of years will continue if the projections are correct.
If you are thinking about selling your home, one of our Dickson Realty experts can help you set the right price, and help you understand how to negotiate the potential of multiple offers.
For buyers who are entering the market, you need the experience that a Dickson Realty agent can bring to the table. Our award winning website and mobile app can help you be among the first to find new listings.
Whether buying or selling in the current market, you need an expert counselor on your side. Contact one of our neighborhood experts to get the very latest information about home values. You can trust the experts at Dickson Realty. We’ve been assisting northern Nevada buyers and sellers for more than 40 years.