New real estate listings in Greater Reno Sparks is down to 375 in November. This represents a 12% drop year over year and approximately 200 less new listings than October 2020.
A new year means a fresh start, a blank page, another opportunity to live your dreams. May the coming year bring you everything you wish for, and many happy surprises as well. Happy New Year!
Wishing you the happiest of Holiday Seasons and a prosperous New Year!
Median Price in Greater Reno Sparks for the month of November 2020 was $453,750. This represents a slight drop from October but a $53,750 increase (13.4%) over the previous year.
Month’s supply of of Homes for Sale has dropped again to just over 1/2 a month (.6 Month) during November. Last year’s November supply was 2.4 months. Clearly we are in a very challenging market for Home Buyers with very limited inventory of resale homes.
This week national real estate news has indicated a more optimistic outlook than previous weeks. On May 4th Zillow Forecasts a Dip in Home Prices, Rebounding By Next Year. In summary, this forecast predicts a 2 to 3% drop in prices through the end of 2020, followed by a slow recovery through 2021 with prices Read More …
As expected, the volume of closed transactions has dropped off during COVID-19 restrictions. While down a little over 30% year over year, we did see an increase over the previous week. Week ending 4/18/2020 we closed 98 real estate transactions in Reno and Sparks, Nevada. This represents almost 9% increase over the previous week, but Read More …
With lots of uncertainty and justified concern about the state of our economy and the impact on our local real estate market, accurate unbiased data is important in order to to have an informed and accurate understanding of our local market. For our week ending 4/18/2020 our median sales price for Reno and Sparks, Single Read More …
Wishing everyone a Happy Easter! Hoping you enjoy a day at home together with family….safe and healthy. Take Care, Robert
How is the Reno Sparks Real Estate Market holding up with COVID-19 restrictions? See below for Median Sales Price and Closed Sales data for week ending April 4th, 2020