Welcome to March, and spring is just around the corner! Here is the latest info on the single-family home market in the Reno/Sparks area.
As of February 28th 2021, there were 228 homes available for purchase, which is a decrease of about 1.7% from last month. Despite the small decrease month-over-month, there was a year-over-year increase of 20% in standing inventory for the region. There are two main reasons for the low standing inventory; continued strong demand absorbs most listings quickly; and, we normally have fewer homes entering the market during the winter months of the year. Heading into spring, we anticipate more listings coming into the market.
Months or Days of Inventory is typically how REALTORS refer to the amount of time it would…
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