Reno Area Blog

Welcome to the Reno Sparks NV Blog keeping you informed of local information and community events.

Found 19 blog entries about Reno Area Blog.

 “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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“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.
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“The lack of inventory has been the primary driving factor for increasing prices,” said Doug McIntyre, 2018 RSAR President and REALTOR®.  “Other indicators in the market are strong. Lending practices are sound, FICO scores are holding, there’s just no inventory and that continues to drive pricing and frustrate buyers.”

  • The June median price at $385,000 is up 3% from May and up 16% from a year ago.
  • June unit sales at 572 are down less than 1% from May and down 24% compared to
    June 2017.
  • June new listings are down 4% at 754 compared to May and down 11% from one year
    ago.
  • The Reno market is a seller’s market, at 1.6 months supply of inventory. Months supply
    of inventory is the time it would take to exhaust the active inventory at the current rate
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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.
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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
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  • 3 Bathrooms
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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,

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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,
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  • 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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We Live Here. We Work Here. We're Here For You!

Reno/Sparks Market Report May 2018

 

 
 

Happy May!

Montgomery Real Estate Group at Keller Williams Sparks is a local real estate brokerage specializing in selling and buying homes in 89436 and 89441 in Sparks, Wingfield and Spanish Springs. Our team of top ranked REALTORS®  are dedicated to helping home buyers and sellers from contract to closing, and exceeding our clients' expectations.

 
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