Thanks again to the Reno/Sparks Association of Realtors for the updated stats.
You can view the whole report here… March 2016 Stats
Below is an overview with commentary…
- The median sales price hit $296,000. The last time I wrote the median sales price had dropped to $278,000 an the naysayers came out. Well two months later we have to consecutive months of price increases.
- Units sold jumped to 559 from 366. Pretty typical of the time of the year. It’s hardcore selling season again.
- New listing went up to 736 from 574. Another reason sales went up. We have a little more inventory.
- The average price per sqft moved a little to $168 per sqft.
- Even though we had a bunch of new listing they sold quick and inventory is at a ridiculous 2.8 months. This is the lowest I think I’ve ever seen it. An average market is between 5-7 months.
Overall, it’s still a seller’s market and many people are getting priced out. Depending on where you’re looking, a nice 2000 sqft. house can go for $300,000-$550,000.
For more information on buying or selling feel free to call or email me. (775) 393-9601 or Ricky@RickyBeach.com
Below is your video of the statistics…
To search for homes visit RickyBeach.com
To get your home’s value visit HomeValuesOfReno.com
To stay up to date on your neighborhood visit RenoSnapShot.com.
If you have any specific questions email me at Ricky@RickyBeach.com