Here’s a quick look at the Reno/Sparks housing market. The median price for single family homes in November remained steady for the second month in a row at $260,000, while the median price for condos decreased slightly to $95,000.
Although fewer homes and fewer condos sold during the month, both categories had a reduction in available inventory. Sellers in our area continue to benefit from a shortage of inventory.
Average days on market for homes in November remained stable, but rose 15% from October for condos.
Is this a good time to buy? With a slowing in the pace of sales, and continued low interest rates, this could be a great time for you to purchase a home.
Whether buying or selling, you need an expert counselor on your side. I have the experience, tools and technology to help you understand the nuances of the market. Contact me to get the very latest information about your neighborhood home values .