In the Reno-Sparks market it is clear that low inventory conditions are affecting our market.  July 2017 sales data is in and it clear that low inventory is having a direct affect on our market.  If you are buying or selling and looking for a professional that can interpret the data for you call the Shocket Team.  Reno-SparksRealEstate.com

So let’s look at the data…

Median Price – The median price for July 2017 jumped 5.1% from June 2017 and is up 12.6% from July 2016.  This is above the median price we saw at the height of the market in 2005 before our market crashed.

July 2017 Median

Units Sold – the units sold in July 2017  is down 17% from the previous month and up just slightly from the same time last year .

July 2017 Units Sold.png

New Listings – a significant 23% drop in new listings in July from the previous month and 14.6% from July 2016.

July 2017 New Listings.png

Inventory – July 2017 saw inventory levels also drop, 3.5% from June 2017 and 17.6% from July 2016.

July 2017 Inventory