Let’s take a look at the recent median price and days on market trends for the greater Reno-Sparks area.
By December 20th, the median price for the Reno-Sparks region was $292,000, which matches even with the median price for November, even as we have several more days left in the month. It is good for property sellers to see the median price tick back in the upward direction after a slight decline in August through October. Also good to note, is our most current measurement for median price is 11 percent higher than the same point last year.
The average Days on Market also seemed to temporarily level out, marking 97 by December 20th just as it did for the month of November. This metric started to peak in October with an average days on market of 99. It is typical for Days on Market to increase this time of year, but with the continued low housing inventory and high demand, we may buck that trend this winter.
What does all this information mean to you? Although the Federal Reserve slightly raised its interest rate earlier this month, mortgage rates are expected to remain at historic lows for another few months. For sellers who have equity as a result of the increase in property values, the time may be right to talk to a Dickson agent.
If you are in the market to purchase, you can be one of the first to know about new listings by visiting DicksonRealty.com. Or, download our free mobile app to your Apple or Android phone. We update listing information every 30 minutes, so you will have the latest information in the palm of your hand.
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, and we look forward to helping you.
Dickson Realty Market Trends- Market News December 24, 2015 from Dickson Realty on Vimeo.
Thank you to our segment sponsor
