What’s Going on in the Reno Market this Summer?

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I wanted to give you a quick update on the Reno real estate market. 

When I recently checked in on the data, we had 1,400 homes for sale in our market, which is just a natural summer seasonality when the market inventory hits its highest point. What this means to you and other consumers is that homeowners selling their homes aren’t seeing multiple offers like they did the first six months of the year.

Summer seasonality has inventory at a high point.

For those selling a home, your home is probably going to be on the market just a little bit longer. On the buyer side, it means you’ll have more options and you won’t be quite as rushed in your decision making. You will, however, still have to move fast when you find a home you love.

For the month of June, we had 655 home sales, and the median price was $312,000, so this is an 11% increase year or year for the month of June. 

If you’re interested in buying or selling in Reno, feel free to give me a call or send me an email today. I’d love to hear from you.