In market news this week, we are going to take a look at the trends in median price and average days on market for homes in the Reno/Sparks area from April 2014 through October 2014.
In the past several months, the percentage of non-distressed homes in the Reno/Sparks region has continued to be a dominating factor. A non-distressed home sale is also known as a regular or traditional sale.
The median price trend continues to increase, while the average days on market has been relatively stable since May, indicating that our housing inventory is still very low, especially in the most affordable price range of $150,000 to $250,000. these market conditions give the sellers a distinct advantage.
Year to date sales are down 3% compared to year to date 2013. We expect to see the number of homes sold decrease slightly through the next few months as our market follows a national seasonal trend.
Call your expert Dickson agent or one of your offices if you would like to get the specifics on what is happening in your neighborhood.
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