Reno Sparks Real Estate Inventory – Seller’s Market for last 5 years.

MSI (Months Supply of Inventory) is an indicator used to determine Buyer or Seller Markets.  Markets with lower inventory are considered Seller Markets.  Markets with higher inventory are considered Buyer markets.  A balanced market is generally considered to be between 5 and 6 months of inventory.  The Reno-Sparks real estate market has been in a Read More …

Reno Real Estate Single Family Median at $377,500 and Days to Contract 63 Days.

Reno Real Estate Single Family Homes stats for December 2018 (current month on image is the last full calendar month).  Median Sold Price is down 4% from November 2018; New Listings are down 38% over November 2018; Months Supply of Inventory is up 103% over December 2017; and Days to Contract is up 6% over December Read More …

How Interest Rates Impact The Price of House You Can Afford

Freddie Mac’s last Primary Mortgage Market Survey reports that interest rates for a 30 year fixed rate mortgage are currently at 4.61%.  The interest rate that you lock when buying a home, not only impacts your monthly payment but also your purchasing power – or price of home you can purchase. Purchasing power, is the Read More …

Reno Sparks Real Estate Market Statistics for July 2017

Monthly market statistics have recently been released by RSAR (Reno Sparks Association of Realtors) through July 2017.  Homeowners will be pleased to know that our median price is up to $357,500.  That is just 2% below the peak in January 2005!  Inventory conditions also are strongly in Sellers favor, with only 1.6 months of inventory on Read More …

Housing Shortfall is Projected for Reno Sparks Region

EDAWN (Economic Development Authority of Western Nevada) projects a significant housing shortage for our area if new housing growth doesn’t pick-up substantially.  Based on their EPIC report, new jobs will outgrow new housing by 20,000 units within the next three years.   The EPIC Report’s scenario B, which forecast for 5,400 new jobs in the Read More …