Let’s take a look at recent median price and days on market trends for the greater Reno-Sparks area.
By the end of March 2016, the median price for the Reno-Sparks region climbed to $296,000, which is the highest we have seen since the recession. This is a significant milestone for the Reno/Sparks market ever since the median sales prices began to hover around the $290,000 mark beginning July of last year. The new record for median sales price broke the previous record of $292,000 set in November 2015.
The average Days on Market for March recorded a mark of 93 days, which is a 19% decrease from the 115 Days on Market from February. The average Day on Market usually trends downward this time of year after peaking in the winter months.
Why should this information matter to you? For sellers who have equity as a result of the increase in property values, the low inventory and high demand make this a great time to talk to a Dickson Realty agent about how to sell now and for the best price.
For buyers, recent turbulence in the stock markets and the unsettled global climate is helping to keep mortgage rates at historic lows. 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.
Dickson Realty is rated the number one real estate company in the Reno-Tahoe region by both REAL Trends and RIS Media. You can trust the experts at Dickson Realty to get you the information you need, when you need it. Call one of our offices or your agent today.
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