Let’s take a look at Median Price and Days on Market trends for the greater Reno-Sparks area.
At the end of April, 2016, the median home price for the Reno-Sparks region climbed to $294,500. Although this was slightly less than March’s $295,000 median, it represented a healthy 8.3% increase from April of last year. We expect the median to continue to climb as the demand in most price ranges, fueled by continued job creation and low mortgage rates, out paces the supply of affordable homes.
The Average Days on Market for April remained even with March’s 92 days, which is a 19% decrease from February. The average Days on Market usually trends downward this time of year, and through summer, after peaking in the winter months.
Why should this information matter to you? For sellers who have equity as a result of increased property values, the low inventory and high demand make this a great time to talk to a Dickson Realty agent about why you should consider selling now.
For buyers, mortgage rates are expected to remain at historic lows, but that can’t last forever. Contact your Dickson Realty agent to get pre-qualified before you start looking at homes. Then, 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 ranked 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. We’ve been assisting home buyers and sellers for over 40 years. Call one of our offices or your agent today.
Dickson Realty Market Trends- Market News May 26, 2016 from Dickson Realty on Vimeo.
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