In the Reno-Sparks market inventory dropped in June .06% from May and down 14.5% from June 2016 with a month’s supply at 1.4 months. Inventory supplies locally are significantly lower than the National average. Despite these inventory numbers Reno-Sparks did see sales up in June, 8 from May and 11% from June 2016. Median prices continuing to rise to $340,000, up 2% from May and up 9% from June 2016. If you want to buy or sell see some great tips below and call the Shocket Team. Reno-SparksRealEstate.com
- Existing Home Sales are now at an annual pace of 5.52 million.
- Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines.
- The median price of homes sold in June was $263,800. This is the 64th consecutive month of year-over-year price gains.