Reno Real Estate Today

Home Inventory, an in-depth look

As of December 31st, there were 817 single family homes available for purchase, a 16% decrease from the prior month. It is the fourth consecutive month of declining inventory and the lowest inventory of available homes since early 2019. About 67% of the available homes are priced under $600,000. For homes priced under $300,000, we have just 19 days of inventory, and for homes in the range of $300,000 to $600,000, inventory is 42 days. With little competition in the market, it’s a very good time to sell a home in either of these price ranges. Inventory of homes priced from $600,000 to $900,000 is less than 3 months, and the $900,000 to $1,500,000 price range is about 4 months. All of these pr

2019 ended with fewer homes and steady prices

There were 817 homes active on the market and available for purchase at the end of December, which was a 16% decrease from November and a 32% decrease from December 2018. This was the fourth consecutive month to experience a reduction in inventory. Reno/Sparks area REALTORS sold 504 single family homes in December, which was an 11% increase from November 2019 and a 31% increase from December of 2018. Demand for homes is expected to remain strong, even with the reduction in inventory. The median sold price for single family homes in Reno/Sparks was at $393,500 in December, which was slightly less than November. The regional median price is up by 7.8% year over year. “Median” means “in the mid

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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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