Thanks to the Reno/Sparks Association of Realtors for putting out the March 2014 stats.
You can view the full report by clicking the link to the right. Below is a brief overview with notes and video about the report.
- Median sales price down 3.4% from February but up 16.4% from March 2013. This was expected. A lot of sellers are having to reduce price to get homes sold. We expect the market moving up and down a few points for the foreseeable future.
- Homes sold was up 20.2% from February but down 5.3% from March 2013. Pretty typical uptick as we leave the cold months.
- Average days on market for all type of sales was 106. See the regular sales days on market here.
- New listings were up 14.5% compared to February and up 9.2% from March 2014. Again, warmer weather means more movement.
- 85% of these new listings were regular sales. That’s great for both buyers, sellers, and home owners.
- Months supply of inventory is at 3.7 months. That’s low and means we’re still in a seller’s market.
- The most affordable areas, per the affordability index, are North Valleys, Old Southeast Reno, and Sparks.
For more information on getting your offer accepted in a seller’s market or how to get top price for you home contact me at (775) 393-9601 or Ricky@RickyBeach.com