Posted by on

Your July Reno Sparks Housing Market Update!

Another month has passed and we’re still lacking inventory in the Reno Sparks area, but the entire nation is! We are still in a seller’s market at certain price points. But, it’s still looking like a great time to buy and sell!

 

  • The median price of a home in the Reno Sparks area was down 2% to $278,5000 from $285,000 in May. Median sales price is up 11% from June of 2014.
  • Unit sales in June 2015 was another record breaker, only exceeded by unit sales in June of 2005, the very peak of the market.
  • Average days on market for a short sale is 306 days.
  • Average days on market for a bank owned property is 73 days.
  • Average days on market for a home with no special conditions or regular sale is 72 days.
  • Average days on market was down 9% to 84 compared to 92 in May, 2015.
  • Properties listed at $250,000 and under made up 31% of new listings on the market in the month of June, 2015.
  • The amount of distressed properties we currently have on the market is 4%, down from 5% in May of 2015.
  • At the end of June, there was 2.8 months of unsold inventory in the Reno Sparks area. Down from 3.1 months of inventory just last month.

 

If you have any questions in regards to the Reno Sparks housing market, please give us a call! We would be happy to schedule an appointment with you to go over your home’s value or if you’re looking to purchase.
Mike Smith Team at Reno Home Sale
775-773-8525
msmithnv@gmail.com
dtully@remax.net

Leave a Reply

Your email address will not be published. Required fields are marked *