Let’s look at sales as of August 31st. The largest percentage of sales for homes, by far, is in the under $300,000 range, with nearly 64% of all sales in Reno-Sparks since the beginning of the year. The price range with the second highest number of sales is the $301,000 to $600,000 range, with nearly 31% of all sales. This is not surprising news, given the strong demand and short supply of homes in these price ranges. As sales price climbs, we see that the market softens slightly, with only 84 sales this year over $900,000.
There are several factors contributing to our continued inventory shortage, and we predict that these reasons will not disappear in the near term:
- The economy continues to improve, with more companies moving into the region.
- There are new jobs being created every day.
- There are many first time homebuyers entering the market.
- Interest rates remain very low.
The good news is, these increased values are putting more sellers in a positive equity position. This may be you, and if you are ready to move, the time may be right for us to have a conversation. At Dickson Realty, we have the tools and technology to stay on top of the market. That will help you buy or sell at the right price.
To learn more about these market statistics, or to find out what your home is worth in today’s market, please contact us at 775-453-4568. We hope this information is useful to you in your decision making process for buying or selling a home.