Week Ending 4/4/20 Market Conditions
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
Tag: Market Statistics
Reno Supply of Homes For Sale Down To Record Low
With only 1.1 Months supply of active inventory (resale homes that are on market and available) we are down to record lows of available homes for sale. MSI represents how long it would take to sell through the existing inventory of homes for sale if no other homes were listed on market. If you have Read More …
Q3 2017 Home Value “Bubble” Chart
Greater Reno-Sparks Q3 2017 Existing Single-Family Home Values at $349,000 is a 5.1% quarterly change and well above the 1% average appreciation rate of $307,264. We are now almost at the Q4 2005 peak.
Cost of Reno Rent Has Increased 10%…and Rising
News 4 & Fox 11 reports that “The cost of rent has increased 10 percent over the last year and is expected to rise, according to the Nevada Housing Division”. According to local Builders, the median cost of rent in Reno and Sparks is above $1,000 and expected to increase by 4% in 2017. 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 …