Here’s a quick look at the Reno/Sparks housing market.
The median sales price for single family homes and condos sold in October 2015 slightly decreased when compared with September. However, the median sales price is significantly higher for September and October this year compared to last year.
The average days on market for homes slightly increased from 84 to 96 between September and October, and the average days on market for condos also increased slightly from 83 to 87 over the same time span.
A decrease in months of inventory for single family homes in our region means the market will likely continue to be in a seller’s market as we enter 2016. The Reno and Sparks area remains an especially strong seller’s markets for homes priced less than $600,000.
Recent reports from EDAWN and the UNR Center for Regional Studies predict strong economic growth and a 1.4 % annual population increase for the next five years. These factors will contribute to a robust demand for housing. The year over year price increases and low inventory that we’ve witnessed for the past couple of years will likely continue if these population growth and economic projections are correct.
If you are thinking about selling your home, one of our Dickson Realty experts can help you set the right price, and help you understand how to negotiate the potential of multiple offers.
For buyers who are entering the market, you need the experience that a Dickson Realty agent can bring to the table. Our award winning website and mobile app can help you be among the first to find new listings.
Whether buying or selling in the current market, you need an expert counselor on your side. Contact one of Dickson Realty’s neighborhood experts to get the very latest information about home values. We’ve been assisting northern Nevada buyers and sellers for more than 40 years
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