The number of available listings for single family homes for sale in the Reno-Sparks market dipped below 600. This morning even I was surprised to see that there are only 595 available listings for sale. What’s even a little more surprising is that the median price of these available listings is $639,900. Here is a breakdown of the number of homes for sale by price point as of this morning.
- Under $300,000 – 21 homes (3.5%)
- $300,0001 – $600,000 – 261 (43.7%)
- $600,001 – $900,000 – 168 (28.25%)
- $900,001 – $1.5M – 86 (14.5%)
- Over $1.5M – 59 (9.9%)
Our market is absorbing new listings at very rapid pace. July numbers are not finalized yet, but as of this morning there were 699 sales of single family homes in Reno-Sparks. This is up almost 25% from July of last year. As of today the median sold price for July is sitting at $435,000. This is a record for our market and up nicely from both last month and last year.
July and August are typically the tail end of our strong Spring/Summer selling season but this year, as with almost everything else in our world, things are different. Buyers are still out there trying to secure homes at historically low interest rates but with extremely limited inventory. So sellers if you have considered making a move now is still a great time to sell. The Shocket TeamShocket Team works with both buyers and sellers with strong knowledge of the market conditions and how to help our clients meet their home buying and selling goals. Contact us today – email@example.com