Let’s take a look at Median Price and Days on Market trends over the past 6 months for single family homes in the greater Reno-Sparks area.

After four months of stability in the median price, we had a slight decrease of 3.2%, from $310,000 to 299,950. This was the first change in median price since August. December’s median is still 3.6% higher than it was at this time last year, and 14.5% higher than December 2014. Strong demand for housing, low mortgage rates and healthy job growth in the region will continue to drive median price up over the long term, especially in the most affordable price ranges.

The Average Days on Market continued to rise through December. An increase of 10 days or 10.3% was seen since November which marks an increase of 35.4% since the near record low of 79 in June. We expect the Days on Market to continue follow the typical seasonal increase through the winter months and begin to decline in the springtime.

Why should this information matter to you? For sellers in price ranges below $500,000, 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 low for the near term, but an expected rise in mortgage rates is likely on the horizon. Your first steps in the buying process should include talking with your Dickson Realty agent to help you get pre-qualified before you start looking at homes. Then, be one of the first to know about new listings by visiting our award-winning website, DicksonRealty.com. We update listing information every 30 minutes, so you will have the latest information at your fingertips.

Dickson Realty is ranked the number one real estate company in the Reno-Tahoe region. 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 Dickson Realty agent today.

Dickson Realty Market News January 23, 2016 from Dickson Realty on Vimeo.

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