“We are seeing a leveling trend of the median sales price in the area,” said Doug McIntyre, 2018 RSAR President. “Since March of this year, median price in the Reno/Sparks has hovered in the $370K to $375K range, except during the summer months, when it reached a high of $389,000.”
- The September median price at $374,000 is up 1% from August and up 11% from a year ago.
- September unit sales at 439 are down 22% from August and down 28% compared to September 2017.
- September new listings are down 22% at 630 compared to August and up 10.3% from one year ago.
- The Reno market is a seller’s market, at 3.1 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.