This report will give you an update on the Reno/Sparks real estate market through the 1st quarter of 2021. You will find information about prices in different parts of town compared to where they were a year ago and market stats broken down by price range in Reno/Sparks.
Click on the image to read the magazine-style report.
Working from home is not a new concept. In the late 80s and early 90s, the home office was a common home amenity. After fading from popularity in the mid-90s, the home office has become a staple for many homeowners today. The Covid-19 pandemic has completely changed how millions of employees are working.
Prior to the pandemic, roughly 5% of the workforce consistently worked from home. At the peak, in May 2020, more than 50% of the workforce was working remotely. Many workers have taken to the style of remote work and businesses save in overhead costs, making remote working a win-win. A Gallup Survey from April 2020 shows that 60% of remote workers would prefer to continue to work from home as much as possible.
Our local housing market is off to a strong start through the 1st quarter of 2021. Here are the latest statistics for the single-family home market in the Reno/Sparks area.
As of April 1, 2021, there were 187 homes available for purchase which is a significant 74 percent decrease from this time last year. The persistent low inventory represents a challenge for buyers but also makes it an extremely good time to sell a home with little competition in almost every price range.
Months or Days of Inventory is typically how REALTORS refer to the amount of time it would take to sell all existing homes for sale if no additional homes entered the market. For homes priced under $400,000, we have only 3.5 days of inventory in Reno/Sparks, and for homes in the
It's no secret that Reno-Sparks is in the midst of a seller's market. Many homeowners have significant equity in their homes and interest rates are still at historic lows meaning this may be the perfect time to sell your home, especially if you're downsizing or moving out of the area. If you are thinking about listing your home in the near future, take a look at these five things you should do.
1. Find a Great Real Estate Agent. Choosing an agent that you trust and who is an expert in the local real estate market is arguably the biggest decision you can make when listing your home. Ask about their marketing plan, their experience, and testimonials of past clients.
2. Deep Clean. Whether you tackle the cleaning yourself or hire professionals,
COVID-19 and seasonal conditions may have put the freeze on Northern Nevada’s housing inventory, but warmer temps, vaccinations, and new construction could bring more homes on the market this spring.
The housing inventory in Reno and Sparks experienced a slight increase in February, and we may continue to see more homes come on the market as the temperatures get warmer. Overall, February was better than January, but we still have a long way to go. Here’s what you need to know.
Northern Nevada’s Housing Inventory: Where Are All Houses?
Our housing market’s current state is due to a few factors, including high demand and low inventory. Like many other parts of the country, homeowners in Reno and Sparks are hesitant to list their homes due to
Demand for housing in the Reno/Sparks region is strong, which is keeping upward pressure on home prices, while market times remain fast. Here’s the latest info from the experts at Dickson Realty.
When discussing median price, median means “in the middle”, so half of homes sold for more and half sold for less. According to the Reno-Sparks Association of REALTORS, the regional median price increased by one hundred dollars from January to February, to $450,000. However, the year-over-year median price is up by 14.6%, and we expect it to continue trending up in the coming months.
The Average Days on Market decreased significantly by 17 days, or 20.2%, to 67 days from January to February. This is an on-market time that we typically only experience in
Moving day is notoriously stressful. You're on a time crunch. You're frantically trying to pack last-minute items. You're organizing movers, meals, and your grandma's antique silver. But moving day doesn't have to be a trying experience. These tips from professional movers can make moving day much less stressful.
1. Time Your Move- Weekend moves are going to be more expensive whether you hire professional movers or a moving truck. Stick to mid-week moves for the best price. Also consider when you'll be driving to your new home. You don't want to be stuck in rush hour traffic in your moving truck if you don't have to.
2. Label Everything- You probably know to label your boxes by room (living room, guest bedroom, office, etc.). But do you label the
Here’s the latest information on the Incline Village/Crystal Bay real estate market. You will find year-over-year comparisons of different statistics for single-family homes in the top graphic and condos in the bottom graphic; both represent the month ending February 2021.
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If you have any questions about this report or would like more information about the real estate market, please reach out
As years of economic development efforts come to fruition, more people and businesses are relocating to Northern Nevada and impacting the Reno economy positively. However, with this growth comes the challenge of meeting new demand for housing, education, and other critical infrastructure, according to experts who spoke at Dickson Realty’s annual Economic Summit.
During the virtual event, Mike Kazmierski, president and CEO for the Economic Development Authority of Western Nevada, and Brian Bonnenfant, the project manager for the Center for Regional Studies at the University of Nevada, provided insight on where the Reno economy stands and what to expect for the remainder of 2021.
In their presentations, both Kazmierski and Bonnenfant referenced