In the Reno-Sparks market we have seen a drop in sales due to low inventory in April and March.  These low inventories are also responsible to the increase in the median price.  Our market is in great need of more homes available for sale.  This is a great time for sellers to consider selling and the Shocket Team can help.  Reno-SparksRealEstate.com

Median Price # Sold 2018 # Sold 2017 % Change Inventory
April $374,000 483 518 -6.80% 1.3 months
March $375,000 528 559 -5.50% 1.1 months
February $370,000 429 386 11.10% 1.3 months
January $359,950 400 364 9.90% 1.3 months
Drop in Inventory Fuels Sales Slowdown [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Existing Home Sales are now at an annual pace of 5.46 million.
  • Inventory of existing homes for sale dropped to a 4-month supply, marking the 35thmonth in a row of declines.
  • The median price of homes sold in April was $257,900. This is the 74th consecutive month of year-over-year price gains.