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October 15, 2018

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It’s All Good News for the Reno Real Estate Market

 

I have very good news on the Reno Real Estate market; Inventory was up, more homes were sold, and houses sold quicker and closer to asking price last month. 

 

Inventory

For the month: The inventory of homes for sale rose by 75 in May to 1,350. This represents 5.88% increase from April when 1,275 homes were on the market.

Compared to Last Year: Compared to the same month last year when there were 1,852 homes for sale, the inventory of homes for sale has fallen by 502 representing a -27.1% year-over-year change.

 

Homes Sold

For the month: The 462 homes sold in May was 10 more than in April. This represents a 2.21% increase in sales from April.

Compared to Last Year: Compared to the same month last year, the number of homes sold increased by 42, a 10% year-over-year increase.

 

Days on Market

For the month: The average days on market for a home sold in May (86) decreased by 3 days compared to April. This represents a 3.37% decrease in days on market for homes in the market from the previous month.

Compared to Last Year: Compared to the same month last year, the days on market for homes sold decreased by 13, a -13.13% year-over-year change.

 

Sales Prices

For the month: The median sale price for homes in May was $257,750. The median sales price for homes in May did not change $0 compared to last month.

Compared to Last Year: Compared to the same month last year, the median price of homes rose by $31,950 representing a 14.14% year-over-year change.

 

Sale to List Price Ratio

For the month: The Sale/List Price Ratio of 98.67% in May rose by 0.83% compared to April.

Compared to Last Year: Increased 0.23% compared to the same period last year.

 

For detailed graphs, visit: http://tinyurl.com/qfmqh4g

To talk real estate, contact Amanda at 775-525-1528

 

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