Let’s take a look at recent median price and days on market trends for the greater Reno-Sparks area.
In August, the median price for the Reno-Sparks region was $289,950. There was a miniscule shift compared to the previous month, for July marked a median price of 291,990, amounting to a decrease of less than one percentage point. Overall, the monthly median price has steadily climbed back up ever since it hit a low of $135,000 back in January 2012.
The average for days on market for August 2015 was 77 days, which is now a record low spanning all the way back to August 2010. The average for days on market has been decreasing since January 2015, where it spiked at 129 days after a previous period of decline. This clearly indicates excellent conditions for a continued seller’s market.
What does this information mean to you? Interest rates, although rising slightly, are expected to remain at historical lows for another couple of months. Industry experts are predicting an increase to approximately 5% by year end. For those sellers who have equity as a result of the increase in property values, the time may be right to talk to a Dickson agent.
If you are in the market to purchase, you can be one of the first to know about new listings by visiting DicksonRealty.com. Or download our free mobile app, where we update listing information every 30 minutes, so you will be sure to have the latest information. Trust the experts at Dickson Realty to get you the information you need, when you need it. We’ve been assisting buyers and sellers in northern Nevada for over 40 years.
Thank you to our segment sponsor, First Centennial Title Company of Nevada.
