Let’s take a look at the existing housing inventory and sales statistics by price range for the Reno-Sparks area.
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 as of December 28th. For homes priced $10,000-$300,000 there is less than one month of inventory at just 28 DAYS! For homes in the range of $300,001-$600,000, inventory is just 58 days, which is 7 days fewer days than at the end of November. 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. However, in the price ranges above $900,000 we have a greater inventory of available homes, and with that we see a shift to more of a buyer’s market. 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 Realty agent and your lender to give you the best chance of having your purchase offer accepted by a seller. If you’re not currently working with a lender, please contact one of our Eagle Home Mortgage representatives, located next to our Dickson Realty offices in Caughlin Ranch, Damonte Ranch and Sparks.
If you are selling in these price ranges, your Dickson Realty 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 Year-to-Date Sales as of December 28th. Nearly 95 percent of sales this year have been in the price ranges under $600,000! In the month of December, there was a slight change in percent of sales that lends to more activity with higher-priced homes. The percent of sales of homes $300,000 and below decreased by 0.4 percent from November to December, and there was a slight increase for properties sold from $300,001-$600,000, and the range $900,001-$1,500,000. While the percent changes were not particularly drastic, we are seeing that people are stepping up to a higher price bracket to find the right home to purchase.
Increased values in our region are putting more sellers in a positive equity position. This may be you, and if you are ready to move up, 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!
Dickson Realty Market Trends- Market News December 31, 2015 from Dickson Realty on Vimeo.
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