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.