Tuesday, April 10, 2018

A Quick Look at Our Reno/Sparks Real Estate Market

What’s been going on in our local market? It’s time to take a look at our latest market update.

What’s been going on lately in our Reno/Sparks area real estate market? It’s time for another market update.

Last month, there were 439 sales at a median price of $370,000. There are currently 526 homes on the market. This constitutes about 1.25 months’ worth of supply. In other words, if no other homes came on the market it would take 1.25 months for us to run out of listings.

"In today’s hot market, buyers and sellers must be strategic."

This means buyers and sellers must be strategic. Buyers need to be offer-ready. So, if you have plans to purchase a home, make sure you get pre-approved and get in touch with an agent. 

As for sellers, those looking to list need to be careful about pricing. The best way to sell your home is by pricing it correctly from the start. Overpricing your listing would be a costly mistake.

If you have any other questions about our current real estate market, just give me a call or send me an email. I would be happy to help you.