Median home prices up 12.7% from last year.
The Reno/Sparks real estate market is as hot as the weather.
Number of homes available to buy is down 3% compared to July, and down 21.8% compared to this time last year.
Number of homes sold is up 6.4% over last month, and up 13.8% from August of 2016. With year over year inventory down and more sales year over year, our area will continue to experience increases in median price in many neighborhoods.
Median sold price for single family homes in Reno/Sparks is up 12.7% from last year. Last August, our median price was $310,000. This year, it is $349,500.
Why should this information matter to you? The supply-demand equation continues to drive home prices up in the most affordable price ranges. However, the pace of price increases often depends on a specific neighborhood or area of town. Whether you are considering a move to downsize, move up, or even a move across town, now is a great time to talk about your options.
Call me, and let's chat.