To understand the future of the housing market, we need to understand the housing data through the end of December 2016. In the last six months, the median price for single family homes and condos has gone from $295,000 to $298,500, and is now back to just under $290,000. The number of days that houses are actively marketed before they are sold has gone from 78 days to 108 days in the same six months. The median price has increased from December 2015 to December 2016 by 4.7 percent.
The number of units sold in the same time frame has increased by 1.2 percent. Last December, we had a few more new listings at this time and a few more listings in general on the market. Pictures are worth a thousand words so the mix of houses sold through the end of December might explain a lot.
Read more of the Reno-Sparks Region real estate market trends by clicking the image below.