Market Report- Inventory and Percent of Sales- Reno/Sparks- January 31, 2018
Posted by Jeff Sallan on
Demand for affordable housing in Reno-Sparks is high, and supply is low. While this creates a challenging environment for some home buyers and sellers alike, it is also one of the best move up markets in recent history. Let’s take a look at what’s happening.
As of January 30th, there were 578 homes on the market that were Active and Available for purchase. That is 13.1% fewer homes than the 665 on the market at the end of December and a staggering 43.1% fewer than the 1,016 homes on the market in January 2017. 66% of available homes have asking prices below $600,000, which is down from 71.9% in January 2017. Only 103 of the homes on the market today have asking prices under $300,000. By comparison, 276 of available listings were under $300,000 at…
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Winter is not usually a prime selling season in real estate. You have holidays, cold weather and shorter days to contend with. But this year, we're seeing significant home sales, even in the middle of winter. So if you're planning to sell your home and were going to put it off till spring, you may want to reconsider. Interest rates are still very low and Northern Nevada has a surplus of buyers interested in owning a home. It's a good time to sell! If you'd like more information about the local real estate market, call us at 775-453-4568.
We're sure you're aware of all the home maintenance tasks you should be doing (gutter cleaning anyone?), but what about the less noticeable chores? We've compiled a list of some of the more obscure tasks you may be forgetting or not even know about.
