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Reno Housing Market Update- January 2015 vs January 2014

Posted by Jeff Sallan on Monday, February 2nd, 2015 at 3:18pm.

08Sales in December 2014 were up by 1.6% over 2013 and the average days on the market was the same. Homes are selling for nearly 13% more so sellers have a reason to celebrate. Current inventory is down 27%! That means there is a higher demand for available homes and we could see an even greater increase in home values.

30 year interest rates are down about .6 points since this time last year, which is great news for buyers. Make sure you’re pre-approved before heading out to look at homes.

If you’re planning to sell your home this year, give us a call and we will be happy to create a customized market analysis for your property so you will know the value of your home and have time to prepare your property prior to listing.

If you’re planning to purchase a home this year, there are so many tools available to make the process as simple as possible. We can create a custom home search so you know what’s on the market moments after properties are updated in the MLS. We have a lot of resources related topurchasing a home in the Reno area.

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