Reno Real Estate Today

December Market Profile for Reno/Sparks

The median price in Reno/Sparks decreased slightly by $4,000 to $351,000 in the month of November. Despite the monthly decrease, there has been a year-over-year increase of nearly 5% since November 2017. As for the number of sales, there was over a 7% decrease from October to November and almost a 15% decrease when compared to this time last year. 127 fewer new listings entered the market in November than did in October, which represents an 18% decrease. Although the month over month comparison appears dramatic, when comparing year over year, the number of new listings actually increased by over 24% compared to November 2017. Inventory of available homes decreased by 8.5% to 1,513 available

Reno median home price down but hanging in there.

Let’s take a look at Median Price and Days on Market trends over the past 6 months in the greater Reno-Sparks area for single family home sales. “Median” means “in the middle”, with half of homes selling for more and half selling for less. According to the Reno-Sparks Association of REALTORS, the median price decreased from $385,000 in October to $377,000 in November. A better indicator of market health however, is to look at the annual trend, which is up by almost 7% since November of last year. This year-over-year change highlights the continued short supply and strong demand for housing in the region.

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Dickson Realty

"Real Estate will be one of biggest investments of your life. Not just on your bank account, but in your soul. Owning a home has the profound ability to fill your heart with pride, love, and joy."                                     Amanda Gunter                                       

 

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