Let’s take a look at Median Price and Days on Market trends over the past 6 months for single family homes in the greater Reno-Sparks area.
After a slight decrease in the median price last month, which marked the first change since August, we saw an increase from $299,900 to $303,750 in January. This increase is moving towards the $310,000 median price that held from August through November. January’s median price is still 8.9% higher than it was at this time last year, and 19.1% higher than January 2015. Strong demand for housing, low mortgage rates and healthy job growth in the region will continue to drive median price up over the long term, especially in the most affordable price ranges.
The Average Days on Market decreased by one day from 108…
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