Days on Market & Median Price Report – May 2021

Demand for housing in the Reno/Sparks region is strong, which is keeping upward pressure on home prices, while market times remain fast. Here’s the latest info from the experts at Dickson Realty.

When discussing median price, median means “in the middle”, so half of homes sold for more and half sold for less. According to the Reno-Sparks Association of REALTORS, the regional median price increased by 2% to $494,500 from March to April. This is another new record median price for single-family home sales in the region. Year-over-year, median price is up by 19%, and we expect it to continue trending up in the coming months.

The Average Days on Market decreased by 13 days, or 19%, to 55 days through April. This is the lowest Days on Market time we have seen since 2004, so it is quite remarkable. Last year at this time, days on market was 80 days, which is more typical for this time of year. The fast market represents a challenge for buyers, but should not deter anyone looking to purchase a home.

If you are in the buying market, be sure to have your loan pre-approval completed before starting your search. Dickson Realty agents have tools that allow you to tap into the home equity you currently may have to write more competitive offers while remaining in your home throughout the buying process. Reach out today to learn more about the process.

Many of the amenities we desire in our homes have changed for the long term. Whether you need extra office or study spaces, a better-equipped kitchen, or a dedicated home fitness studio, we’re here to help you find the space that is right for your lifestyle.

Please reach out if you have any questions about this report or the real estate market in our region. It would be a pleasure to assist you.

Written by Rebecca Dickson, Vice President of the Dickson Realty Luxury Division. 

 

Historically, most buyers of Reno luxury homes entered the market from Northern California after they had retired or sold a business. The state’s tax benefits provided a substantial draw and benefit to this group, whose entry-level price started at about $2 million.

However, the characteristics of the typical Reno luxury home buyer began to change about 30 months ago and became supercharged by the pandemic. Now, more buyers interested in Reno luxury homes come from Southern California, are in their 30s or 40s and have a budget of at least $4 million.

This shift in demographics, preferences, and geography of buyers is driving an increase in interest in Reno…

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Nationally and locally, one of the most talked-about themes in real estate is the high demand for homes, which is driving record median prices and fast market times. Here’s the latest information on the Reno/Sparks market, from the experts at Dickson Realty.

There were 268 homes active on the market and available for purchase (not in contract or escrow) at the end of May, which was a welcomed increase of about 7% from April 2021. In May 2020, there were 737 available listings, so today’s active inventory is down by 64% from a year ago. Although this is a significant decrease, we are currently seeing a near-normal number of new listings coming to market. The strong demand from home buyers is putting most new listings into contract very quickly and…

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Our local housing market has a little good news for buyers with an increase in inventory to help meet the sustained high demand. Here are the latest statistics for the single-family homes in the Reno/Sparks area.

As of June 1, 2021, there were 268 homes available for purchase which is an increase of nearly 7% over last month. Although inventory is down 64% compared to June of 2020, today’s low inventory numbers don’t necessarily mean fewer homes are being listed or sold. In reality, we have more sales than last year at this time. Strong demand for the homes that are coming to market is one of the biggest causes for the low inventory numbers that we are seeing.

Months or Days of Inventory is typically how REALTORS refer to the amount of time…

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Demand for housing in the Reno/Sparks region is strong, which is keeping upward pressure on home prices, while market times remain fast. Here’s the latest info from the experts at Dickson Realty.

When discussing median price, median means “in the middle”, so half of homes sold for more and half sold for less. According to the Reno-Sparks Association of REALTORS, the regional median price increased by 2% to $494,500 from March to April. This is another new record median price for single-family home sales in the region. Year-over-year, median price is up by 19%, and we expect it to continue trending up in the coming months.

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The Average Days on Market decreased by 13 days, or 19%, to 55 days through April. This is the lowest…

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Whether you're having a home built or buying a home, there are certain amenities that homeowners love. If you are planning to purchase a home, it's smart to go into your search with a list of must-haves. Even though the competition is tough for home buyers, you want to be sure that your new home will work for your lifestyle. 

Here's a list of homeowners' favorite home amenities. Which amenities are your favorite? 

High-End Finishes- Hardwood flooring and solid surface or quartz countertops can make a home feel much more luxurious than the less expensive finishes. Hardwood flooring is preferred by 87% of home buyers, according to Realtor Magazine. 

Energy Efficiency- Energy-efficient windows, appliances, HVAC, and insulation can all make a huge…

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Here’s the latest information on the Incline Village/Crystal Bay real estate market. You will find year-over-year comparisons of different statistics for single-family homes in the top graphic and condos in the bottom graphic; both represent the month ending April 2021.

Click on each image to view larger

If you have any questions about this report or would like more information about the real estate market, please reach out.

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Here’s the latest information on the Reno/Sparks real estate market. Our analysis focuses on single-family home activity in the region for the month ending April 2021.

If you have any questions about this report or the real estate market in our region, please reach out.

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Our local housing market through April 30th showed continued strong demand with a slight improvement in inventory. Here are the latest statistics for the single-family homes in the Reno/Sparks area.

As of May 3, 2021, there were 251 homes available for purchase which is a welcomed 34% increase over the 187 available homes last month. Despite the monthly increase, inventory is still down significantly from this time last year; down by 66 percent. The persistent low inventory represents a challenge for buyers but also makes it an extremely good time to sell a home with little competition in nearly every price range.

Months or Days of Inventory is typically how REALTORS refer to the amount of time it would take to sell all existing homes for sale…

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Written by Beau Keenan,  Presiden of Dickson Realty

If you’re looking for a new home in Sparks or Reno, then you’re probably tired of hearing that there is very little inventory available, and we don’t blame you. Homeowners are staying in their homes longer, cash buyers are flooding the market, and housing costs are increasing. And, while it may seem like Northern Nevada is experiencing more appreciation and market volatility than other areas, that’s not the case. 

Inventory levels have reached record lows across the country, which has caused demand to grow significantly over the last few years. Some have made a comparison between the 2006 housing market crash and the situation we’re in now. However, there are many key differences. In 2006, the…

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Here’s the latest information on the Reno/Sparks real estate market. Our analysis focuses on single-family home activity in the region for the month ending March 2021.

If you have any questions about this report or the real estate market in our region, please reach out.

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