“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

“The Reno market is a seller’s market, at 2.9 months supply of inventory,” said Doug McIntyre, 2018 RSAR President. “The months supply of inventory for the past two months has been at 3 months. This shows an improvement in inventory levels, providing buyers more choices.”

• The October median price at $380,000 is up 2% from September and up 10% from a year ago.
• October unit sales at 459 are up 1% from September and down 17% compared to October 2017.
• October new listings are down 14% at 556 compared to September and up 1% from one year ago.
• The Reno market is a seller’s market, at 2.9 months supply of inventory. Conclusions
• The Washoe County median price at $380,000 is up 2% compared to September 2018. Although the median price continues to

“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.

 “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

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“For the first four months of the year, year-to-date sales for 2018 were ahead of 2017,” said Doug McIntyre, 2018 RSAR President and REALTOR®. “In May, that trend came to a halt, and 2018 year-to-date sales are down 1 percent compared to the same period in 2017.”

• The May median price at $374,000 is level with April and up 12% from a year ago.
• May unit sales at 560 are up 14% from April and down 18% compared to May 2017.
• May new listings are up 12% at 748 compared to April and down 9% from one year ago.
• The Reno market is a seller’s market, at 1.4 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.
• The Washoe County median price is at $374,000.

Coming to the Market Tomorrow!

Open House Saturday June 2nd and Sunday, June 3rd from 11am-2pm.  

• Join us at 2353 Romanga Court, Sparks, NV 89434
• New Listing In The Exclusive D'Andrea Community
• 5 Bedrooms
• 3 Bathrooms
• 3 Car Garage
• 3,060 Sq Ft

Start your summer off right by finding your dream home! This house is immaculate inside and out. The pride in ownership shows from the beautifully landscaped front yard and breezeway into the stunningly upgraded interior all the way out to the lush green yard and covered concrete patio. This enormous 3060 sq foot home leaves little to be desired with stunning views, granite countertops, espresso cabinets, oversized island, walk in closets, luxury retreat featuring covered balcony,

Conclusions for the 2018 Reno/Sparks April Market Update

“New listings in April were down 13 percent compared to April 2017. The lack of supply will likely cause monthly sales to be lower compared to the same time last year. Supply has not kept up with demand.” - Doug McIntyre, 2018 RSAR President

• The April median price at $374,000 is down less than 1% from March and up 15% from a year ago.
• April unit sales at 483 are down 12% from March and down 7% compared to April 2017.
• April new listings are up 11% at 646 compared to March and down 13% from a year ago.
• The Reno market is a seller’s market, at 1.3 months supply of inventory.
• The April median sales price at $374,000 is down slightly from March 2017. The Reno area median sales price,

• 4 Bedrooms
• 2 Bathrooms
• 1 Half Bathroom 
• 2 Car Garage
• 2,964 Square Feet
• This beautiful home is located in the Foothills at Wingfield Springs. Call us for details!

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