In the Reno-Sparks market we are seeing two distinct markets. For homes under the $900,000 price point we are seeing a seller’s market (in the under $600,000 less than 1 month of inventory), and in the over $900,000 market we are seeing more a a buyer’s market. Six months of inventory signals a balanced market. If you are buying or selling in this market the Shocket Team can help with strategies in both markets. Reno-SparksRealEstate.com
Some Highlights:
- A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s, in turn, doing to prices!
- Inventory continues to rise in the luxury & premium home markets which is causing prices to cool.
- Demand continues to rise with low inventory in the starter & trade-up home markets, causing prices to rise!
