Buyers…It’s Time to Get Back in the Game. Median price dips from $389,000 to$372,551 and average market time goes to 76 days!

I have some market news to share with you.

Market Report – DOM and Median Price – Reno/Sparks

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 to $372,551 from July to August, marking the first decrease since April. A better indicator of market health is to look at the annual trend, which is up by over 6% since August of last year. This year-over-year change highlights the continued demand for housing in the region.

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The Average Days on Market increased slightly in August to 76 days. This is also the first increase in Days on Market since April. The increase is welcomed, especially for buyers, but it is still 13 days less than at this time last year.

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Why should this information matter to you? For sellers in many price ranges, the strong buyer demand and constrained inventory make this an excellent time to consider selling now.

For buyers, I can help you get pre-qualified with a mortgage lender before you start looking at homes. Then, you’ll be prepared to move quickly when you find the right house to call “home”.

Please contact me for more market statistics or information about what is happening with real estate in your neighborhood.

Christy Klingler. Realtor