With the month of May in the books we can now get a closer look at what’s happening in the Reno-Sparks market. The graph below shows the data for single family home sales and inventory in the Reno-Sparks market. Knowing the market is key and the Shocket Team can help you with the data. Reno-SparksRealEstate.com
Let’s look at the numbers.
- Median Price – relatively unchanged from the previous month but up 11.3% from last year.
- Units Sold – up from the previous month due to seasonality, but down 18.6% from this time last year. This is a factor of lack of available homes for sale.
- New Listings – again up from the previous month due to seasonality, but down 10% from same time last year.
- Inventory – the number of homes available for sale is down a whopping 32.8% from the same time last year. This lack of inventory is what continues to drive the median price increases.
If you are considering buying or selling given these market conditions it is more important than ever that you look to an experienced agent who knows the market and strategies given these conditions. The Shocket Team has that experience.