In the Reno-Sparks real estate market the results are in for April. With Covid-19 there was much uncertainty about how the real estate market would weather this unprecedented storm. The sales data is in and it’s not as bad as many were predicting.
According to the Reno-Sparks Association of REALTORS there were 374 single family homes sold in April. This is down only 26.2% from the same time last year. We did see fewer new listings during the month, a month that we typically see a sizable increase in listing during our Spring selling season. Due to less listings we are continuing to see a pretty low amount of inventory. With low interest rates the buyer demand appears to continue. So this kept the median sales price up at $416,500. So the outlook is bright as we move forward.
We will continue to help our buyers and sellers that need to move during this time. We have made many changes to how we are working to keep our clients safe. Contact us today if we can help you buy or sell. #shocketteam