Let's take a look at the existing housing inventory and sales statistics by price range for the Reno-Sparks area, as of September 26th.
The lack of local real estate inventory has been a main topic of conversation for many months. However, in September the trend of small month over month increases in available homes for sale continued. A year ago, there were 1,366 homes available for sale. At the same time this year, we have just over 1,600 homes available.
In the price ranges below $600,000, where 95% of sales occur, demand is still strong. A small increase in the number homes available for sale in these robust price ranges should not negatively impact demand, but I encourage my sellers to work closely with me on pricing.
When we look at the…