The small number of homes available for sale in the greater Reno-Sparks area is definitely having an impact on our median price and days on market statistics. The median price is up 18.4% from a year ago, and days on the market, or the time it takes to sell a home, is down 9% from last March.
What helps to drive both of these numbers is an increase in the total number of homes sold, which in March was up 10.1% from March of last year. Also in play is the number of new listings that go on the market. For March 2015, this number was down 6.5% from last year, resulting in a 4.2% reduction in available inventory.
If you are planning to sell your home, give us a call at 775-453-4568. We’d love to create a free, personalized property evaluation for your home so you know what your home is worth in today’s market.
If you are planning to purchase a home, you have probably realized that home inventory is very low. There are homes coming on the market every day and there are still deals to be had. Let’s talk about what you are looking for and we will set you up with a custom home search.