The market activity for July 2016 was largely unchanged from the prior month.

There was a decrease in new listings for the month of July, and the total number of available listings also dropped by nearly 5% from June. We ended the month with 2,144 homes for sale.

In July, Reno/Sparks area REALTORS sold 566 homes, which was 14% fewer homes sold than in June, and ended a 3-month trend of increased sales activity. Although fewer homes sold when comparing July to June, the 566 homes sold represents the third highest July activity we have had in the past 5 years. January through July unit sales are 37 units ahead of the same period in 2015.

The median sales price in Reno/Sparks set another new milestone in July, at nearly $317,000; a 2% increase over June and a 9% increase over July 2015. The continued rise in median price is being fueled by high demand, low mortgage rates and job growth in the region.

Average Days on Market for homes sold in July increased slightly to 87 days. We have been hovering near the limit of how fast inventory can turn over for the past few months. This slight increase in Days on Market is not indicative of less demand. We expect the Days on Market to remain low for at least a few more months. The fast pace of sales magnifies the need to be pre-qualified for a mortgage prior to starting a home search.

Buying or selling a home can be a challenge. Having a market expert and professional REALTOR on your side is an invaluable asset. As your Dickson Realty agent, I can help provide you with up-to-the-minute information about what is selling in your neighborhood. That can give you a definite edge.

Knowing what to do when buying or selling a home can be a challenge. Having a market expert on your side is an invaluable asset. As your Dickson Realty agent, I can help provide you with up-to-the-minute information about what is selling in your neighborhood. That can give you a definite edge.

To learn more about these statistics, or to find out what your home is worth in today's market, please contact me.

I have been helping families buy and sell homes in the Reno/Sparks area for over 19 years.  It is vital that you have a solid, well respected, and seasoned Realtor on your team when you are looking to buy or sell a home. 

Please call me today and let's have a conversation about the market and how you can take advantage of our current market conditions.

Contact me for all of your Real Estate needs at 775-762-7653 or move2reno@gmail.com.

Best,