“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