July 2018 Full Market Report by Reno Sparks Association of Realtors

Posted by Jenna Heisser on Saturday, August 11th, 2018 at 1:36pm.

“The Washoe County median price is at $389,000, which is up 10 percent compared to July 2017,” said Doug McIntyre, 2018 RSAR President. “This is a record high median price for the Reno/Sparks market. When you factor in pricing with the seasonal trend, I would anticipate that unit sales numbers may not reach 2017 levels.”

  • The July median price at $389,000 up 2% from June and up 10% from a year ago.
  • July unit sales at 555 are down 7% from June and down 17% compared to July 2017.
  • July new listings are down 13% at 690 compared to June and up 4% from one year ago.
  • The Reno market is a seller’s market, at 2 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 is at $389,000 up 10% compared to June 2017 and a
    new record high.
  • Unit sales for the month of July were at 555 down 17% from June 2017. Year-to-date
    sales for 2018 are down 6% compared to the same period 2017. Coupled with the
    seasonal cycle, unit sales are declining under the weight of pricing.
  • During the month of July, there were 690 new listings. New listings had been trending up
    since December but are down 13% from June which follows the seasonal trend. Year-todate
    new listings are down 1% compared to the same period 2017. Year to date 2018,
    new listings total 4,608.
  • The average days to contract were 37 in July down 12% compared to July 2017.
  • Properties are remaining on the market an average of 72 days down 12% from July 2017.
  • Sellers are receiving an average of 99.2% of list price down 5% from July 2017.

Median Sold PriceAvg Price Per Foot

Number of Units SoldActive Inventory

Number of New ListingsMonths Supply of Inventory

Median Sold Price by Area

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