The Latest Reno/Sparks Real Estate Market Report from the Experts at Dickson Realty
There were 1,363 available listings at the end of December, which is a 14.7% decrease from a month prior, and a 35% decrease from July, 2015. The number of available listings has decreased each month since August. Typically, available listings decrease in the fall and winter months in the Reno/Sparks market.
The 6-month trend of sold properties has fluctuated from a high of 650 in July to a low of 419 in November. For December, the number of sales increased slightly to 480 homes. Although this follows the typical winter months slowing of the sales pace in our area, it is a lack of inventory in the price ranges that make up the vast majority of all sales that is hampering the sales activity.
One of the most noteworthy takeaways from the data was the median sales price of $290,000 for December. Median sales prices have continued an overall increase since the end of 2011. Continued low inventory levels combined with relatively high demand will keep an upward pressure on the median price trend.
The 6-month trend for the average days on market is more of an inverse of the trends for available listings and median sales price. December witnessed a mark of 104 average days on market, which is a typical increase during the holiday and winter months.
All the ups and downs when buying or selling a home can be a challenge to understand. Having a market expert on your side is an invaluable asset. Your Dickson Realty agent can provide you with up to the minute information about local values and trends to help you negotiate the best deal on the purchase or sale of your home.
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.
