Reno-Sparks market sees falling inventories affect home sales & median price rise in January 2017. Market conditions present opportunities for sellers and challenges for many buyers in the Reno-Sparks market. If you are buying or selling knowing the market is key to your home search or selling strategy. The Shocket Team can help. Reno-SparksRealEstate.com
In the Reno-Sparks market we saw the median price rise 1.3% to $303,750 from $299,900 in December 2016, with an 8.9% increase over the median price in January 2016. Unit sales dropped 31.5% from December 2016 to January 2017 as a result of low inventories of available homes for sale, yet sales volume was very similar to January 2016 levels showing a seasonal trend. The inventory of available listings at the end of January was 1,425 active listings. This is down 13.1% from December 2016 and 11.9% from January 2016.
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