Median Price DOWN to $372,551, Inventory up to 2.4 months.

Our Reno-Sparks median price is down from previous month by 4% to $372,551. That is above August 2017 by $22,500, but unit sales has dropped more than 20% from the previous year. Inventory conditions are still strongly in Sellers favor, but 2.4 months of inventory is the most we have seen on market in well over a year. Remember a balanced market is generally considered approx. 6 months of inventory).