There were 2,014 homes available at the end of July. This a decrease of 3.5% when compared to June. Our inventory is also down by 17.6% compared to this time last year. The median sold price for single family homes in Reno/Sparks increased from $340,000 in June to $357,500 in July. That calculates to a 5.1% increase from June, and an 18.4% increase since January of this year. When comparing year over year, July’s median price for single family homes is 12.6% higher than July of 2016.
With home values over 12% higher than they were at this time last year, many homeowners in Northern Nevada have significant equity in their homes and may not even realize it. If you are considering selling your home, right sizing into a smaller home, or upgrading to a larger home, contact Sallan Real Estate for your complimentary home valuation.
Do you know what your Northern Nevada Home is worth?