Conclusions for 2018 February Market Update
• The February median price at $370,000 is up 3% from January.
• February unit sales at 429 are up 6% from January and up 11% compared to February 2017.
• February new listings are up 10% at 532 compared to January and up 3% from one year ago.
• The Reno market is a seller’s market, at 1.3 months supply of inventory. Months supply of inventory is the time it would take to exhaust the active inventory at the current rate of sales
• Looking at the broader market, the Reno/Sparks market hit a record high median price of $370,000 in February. It was twelve years ago, when median price reached its peak of $365,000 in January 2006. After a six-year recession and another six years of recovery, median…