The Reno/Sparks Association of Realtors put out the October market stats. The full report can be viewed through the link below.
If you don’t want to read the whole thing here are the important points… or watch the video.
- There were 522 sales in October up 11% from September and up 5% from October 2011.
- There was 4.1 months supply of inventory (a sellers market) which was down from 6.7 months in October 2011.
- The median sales price went up again to $181,750. Up 3% from September and up 22.8% from October 2011.
- 458 new listing entered the market. This was down 16.4% from September and down 11.2% from October 2011.
If the new listing continue to trend low then there is no doubt the median sales price will continue to rise. Simple supply and demand.
If you’re wondering if the market is good enough for you to sell then contact Broker Ricky Beach at (775) 750-1437 or Ricky@Resnv.com