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Real Estate Market conditions

Found 223 blog entries about Real Estate Market conditions.

Demand for housing in the Reno/Sparks region has remained relatively strong despite COVID. Although we experienced a slight decrease in median price in the month of May, we are heading into our traditional busy season with unprecedented low inventory, which should help stabilize both price and time on market.

“Median” means “in the middle”, so half of homes sold for more and half sold for less. According to the Reno-Sparks Association of REALTORS, the regional median price decreased from $415,000 to $399,900 from April to May. Our year-over-year median price is still in positive territory, and we expect the median price for sales in the coming months to trend up at a manageable pace.


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The Average Days on Market dipped slightly

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While these are unprecedented times, people still want and need to buy and sell real estate for many reasons. We continue to take steps to ensure that we are as prepared, organized and proactive as possible. If this is not the right time for you to buy or sell, we certainly understand and will be here when it is the right time for you. 

Below is an update on the Reno/Sparks real estate market. Our analysis focuses on single family home activity in the region for the month ending May, 2020.

 

The median price in Reno/Sparks decreased 3.6% from April to May, going from $415,000 to $399,900. Despite the month to month decrease, when comparing year over year, median price increased 2.5%, which is a healthy growth rate.

Reno/Sparks REALTORS sold

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Written by Beau Keenan, President of Dickson Realty. 

At Dickson Realty, we’ve received many questions from our clients and friends about the status and health of the Reno-Sparks real estate market as a result of COVID-19. People want to know about prices, how unemployment is affecting demand, and if we are headed for another real estate bubble.

As trusted advisors and experts in the real estate industry, we want to address these questions by highlighting key statistics and facts about the state of the market, both locally and beyond. This data tells the story of what happened before and during COVID-19.

While we don’t have a crystal ball to say where the market will be post-COVID-19, we do have historical and current data that can help us make

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There were 737 homes active on the market and available for purchase at the end of May, which was a 0.54% decrease from April and a 36.63% decrease from May 2019. Typically, we should have an increase in inventory this time of year. However, not all sellers are comfortable putting their homes on the market at this time.

Reno/Sparks area REALTORS sold 397 single family homes in May, which was a 2% increase from April and a 41.6% decrease from May 2019. While the year-over-year decrease seems alarming, it’s good to remember that May 2019 was a very strong month for sales. A decrease in sales this year was somewhat expected due to the timing of the stay at home orders in Nevada and neighboring states. While the number of sales is down, buyer demand

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These are unprecedented times, but even during uncertainty, people are needing to buy and sell real estate for many reasons. The health and well-being of our clients, agents, employees and community is of the utmost importance to us. We take the coronavirus outbreak seriously and we continue to take steps to ensure that we are as prepared, organized and proactive as possible.

Below is an update on the Reno/Sparks real estate market. Our analysis focuses on single family home activity in the region for the month ending April, 2020.

If you have any questions about this report or the real estate market in our region, please reach out.

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The spring real estate buying season looks a lot different this year than we expected. But, the good news is people are still buying and selling real estate. In March, Reno/Sparks REALTORS sold 505 homes, which was a 10.75% increase from February, and a 10.26% increase from March 2019. Read more about the Reno/Sparks real estate market here.

We realize that for some, buying or selling a home is not something they can put on hold until this is over. If you're going to sell your home, this may be a great time to do so as you'll have less competition as more homeowners are postponing listing their homes. If you're planning on buying property, this is still a great time to take advantage of historically low interest rates. 

One of the main concerns

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These are challenging and unprecedented times, but even during uncertainty, people will continue to buy and sell real estate for many reasons. The health and well-being of our clients, agents, employees and community is of the utmost importance to us. We take the coronavirus outbreak very seriously and we will continue to take steps to ensure that we are as prepared, organized and proactive as possible.

Below is an update on the Reno/Sparks real estate market. Our analysis focuses on single family home activity in the region for the month ending March, 2020.

The median price in Reno/Sparks increased 5.87% from February to March, to $415,000. When comparing year over year, median price increased 12.47%, which is a healthy growth rate.

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Here’s what you need to know about the Reno/Sparks real estate market, from the experts at Dickson Realty.

 

There were 522 homes active on the market and available for purchase at the end of February, which was a 17% decrease from January and a staggering 42% decrease from February 2019. Although it is not uncommon to see a lower number of homes for sale this time of year, we have not had inventory this low in recent history.

Reno/Sparks area REALTORS sold 451 single family homes in February, which was an 16% increase from January and a 25% increase from February of 2019. Demand for homes is expected to remain strong, even with the lower inventory.

The median sold price for single family homes in Reno/Sparks was $391,500 in February,

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On March 15, the Federal Reserve announced it would cut the federal funds rate to a range of 0 to 0.25 percent in an effort to encourage the flow of credit to consumers and small businesses. This created questions for many individuals, especially those in the process of buying a home or refinancing.

To answer some of these questions and clarify some confusion, Dickson Realty reached out to one of our trusted partners, Dereck Bowlen. Dereck is the Branch Manager for Synergy Home Mortgage in Caughlin Ranch. He’s been in the mortgage industry for more than 25 years and offered his perspective and advice.

Answers To Some Of Your Questions About Interest Rates

Does the Federal Reserve’s reduction mean I can get a 0% interest rate on a mortgage or

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These are challenging and unprecedented times, but even during uncertainty, people will continue to buy and sell real estate for many reasons. The health and well-being of our clients, agents, employees and community is of the utmost importance to us. We take the coronavirus outbreak very seriously and we will continue to take steps to ensure that we are as prepared, organized and proactive as possible.

Below is an update on the Reno/Sparks real estate market. Our analysis focuses on single family home activity in the region for the month ending February, 2020.

 

The median price in Reno/Sparks decreased 3.33% from January to February, to $391,500. When comparing year over year, median price increased 5.2%, which is a healthy growth rate.

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