Looking at preliminary sales data from the Northern Nevada Regional MLS, January 2017 sales of single family homes was 356 .  This is down from 385 in January 2016.  Despite this slightly lower number of sales the median price increased from $279,000 in 2016 to $302,250 this January.  The average days on market was basically the same – 88 in 2017 and 87 in 2016.  The Shocket Team can show you these statistics for your home or the home you are looking to purchase.  Contact us today. Reno-SparksRealEstate.com

Here is a sales breakdown by price point, also showing average days on market.

# of Sales Avg Days
Under $200,000 23 70
$201,000-$300,000 151 80
$301,000-$400,000 101 94
$401,0000-$500,000 39 91
$500,000-$1m 34 116
Over $1m 7 134

In 2016 there were 484 new single family listings that came onto the market in January.  This January only 363 new single family listings.   As of this post there were 907 active single family home listings, with only 187 price at or below the $300,000 median home price.

This is a strong signal to sellers who have considered selling their homes to list early this Spring to take advantage of the lowest level of competition.   For buyers it means that buyers will need to be prepared with a pre-approval, know what they want and act quickly once they identify the home they wish to purchase.  The Shocket Team can help.