Let’s take a look at the existing housing inventory and sales statistics by price range for the Reno-Sparks area, as of September 28th.
Dickson Realty Market Trends- Market News October 1, 2015 from Dickson Realty on Vimeo.
In the real estate industry, we’ve been talking about low levels of inventory for many months now. But what does that mean? We’ve broken down the Months of Inventory by price range, and are only looking at homes that are Active and Available. For homes priced $10,000-$300,000 there are only 38 DAYS of inventory! For homes in the range of $301,000-$600,000, inventory is just 84 days, or just around 2.8 months. Although inventory has increased slightly since earlier in 2015, these two price ranges have been in a very strong seller’s market for many months now. It’s good to note that the National Association of Realtors looks for 5 – 6 months of inventory in a balanced market, where neither seller’s nor buyer’s have a distinct advantage.
If you’re in the market to purchase a home in the under $600,000 price ranges, you will want to work closely with your Dickson agent and your lender to give you the best chance of having your purchase offer accepted by a seller.
If you are selling in these price ranges, your Dickson agent can help you price your home correctly for a quick sale, prepare for the possibility of multiple offers and help you negotiate the best deal on the sale of your home.
Now let’s look at sales through September 28th. Nearly 95% of sales this year have been in the price ranges under $600,000! In the month of September, there was a slight decrease in the percent of sales for homes in the under $300,000 price range compared to August. The biggest change for the percent of sales over the past month happened in the $300,001-600,000 price range, accounting for 31.3 % of all home sales. This makes sense as prices continue to rise in our region.
The good news is, these increased values are putting more sellers in a positive equity position. This may be you, and if you are ready to move, the time may be right to talk to a Dickson agent.
At Dickson Realty, our agents have the tools and technology to stay on top of the market. That will help you buy or sell at the right price.
You can trust the experts at Dickson Realty to get you the information you need, when you need it, to make an informed decision. We’ve been assisting buyers and sellers in northern Nevada for over 40 years, and we would enjoy helping you.
