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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Conclusions for the 2018 March Market Update
“The lack of inventory continues to drive sales price up. First quarter new listings were up 1% compared to the same period 2017,” said Doug McIntyre, 2018 RSAR President. “While this is not keeping up with demand, it’s a positive early indicator as we approach the spring selling season.”
• The March median price at $375,000 is up 2% from February and up 18% from a year ago.
• March unit sales at 528 are up 19% from February and down 6% compared to March 2017.
• March new listings are down 3% at 551 compared to February and down 20% from one year ago.
• The Reno market is a seller’s market, at 1.1 months supply of inventory. Months supply of inventory is the time it would take to exhaust the…
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