At the end of June, 2016, the median home price for the Reno-Sparks region climbed to just over $311,600, an 11.3% increase from a year ago. We expect the median price to continue to climb as demand in the most affordable price ranges out paces the supply of affordable homes.
The Average Days on Market for June remained even with May, at 79 days. This is the lowest average since August of last year, and significantly lower than the prior 6 months. The average Days on Market usually trends downward this time of year, and through summer, after peaking in the winter months.
For sellers, the low inventory and high demand make this an excellent time to begin working with a Realtor to sell your home. For a complimentary property valuation, contact us at 775-453-4568.