August 2018 Full Market Report by Reno Sparks Association of Realtors

Posted by Jenna Heisser on Monday, September 10th, 2018 at 7:10pm.

 “During the month of August, there were 778 new listings,” said Doug McIntyre, 2018 RSAR President. “Since January of this year, active inventory levels have been trending up and reached a 21-month high in August. Months Supply of Inventory also reached a 16-month high at 2.4 months. The increasing levels in inventory should take some of the stress off median price.”

  • The August median price at $372,551 is down 4% from July and up 6% from a year ago.
  • August unit sales at 542 are down 4% from July and down 23% compared to August 2017.
  • August new listings are up 10% at 778 compared to July and up 4% from one year ago.
  • The Reno market is a seller’s market, at 2.4 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. Conclusions
  • The Washoe County median price at $372.551 is up 6% compared to August 2017. We are seeing some seasonal leveling in the median price. With slightly higher inventory levels, buyers will have more choices.
  • Unit sales for the month of August were at 542 down 23% from August 2017. Year-todate sales for 2018 are down 8% compared to the same period 2017.
  • During the month of August, there were 778 new listings. Since January of this year, active inventory levels have been trending up and reached a 21-month high in August.
  • Months Supply of Inventory reached a 16-month high at 2.4.
  • Days to contract for August are at 42, that’s up 10% from August 2017.
  • Properties are remaining on the market an average of 76 days down 13% from August 2017.
  •  Sellers are receiving an average of 99% of list price up less than 1% from August 2017.

Avg Price Per Sq FtMedian Sold Price

 

Active InventoryNumber of Units Sold

Number of New ListingsMonths Supply of Inventory

Median Sold Price By Area

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