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Real Estate Blog

 

The Reno Market is still at a seller’s market,” said Angelica Reyes, 2018 RSAR president. “The inventory levels are gradually increasing, and prices are slowly falling, which is a good sign for future buyers.”

  • During December 2018, the report showed Reno/Sparks had 373 sales of existing single-family homes; a decrease of 20 percent from November 2018 and a decrease of 24 percent from December 2017.
  • The median sales price for an existing single family residence in Reno/Sparks in December 2018 at $362,000; a 5 percent increase from last year and a 4 percent decrease from the previous month.
  • The median sales price of existing condominium/townhomes in Reno/Sparks in December 2018 was $199,650; an increase of 20 percent from last year
  • In
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“The trend in rising median price is slowing which can be attributable to the winter season and the increase in interest rates as the Federal Reserve adjusts for inflation,” said Doug McIntyre, 2018 RSAR President. “All indicators point to a correction in the market as opposed to a real estate bubble.”

  • The November median price at $377,000 is down 2% from October and up 7% from a year ago.
  • November unit sales at 444 are down 5% from October and down 17% compared to November 2017.
  • November new listings are down 17% at 469 compared to October and up 20% from one year ago.
  • The Reno market is a seller’s market, at 3 months supply of inventory. Months supply of inventory is the time it would take to exhaust the active inventory at the current
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