NOW HERE’S THE LATEST NEWS ABOUT THE RENO/SPARKS HOUSING MARKET FROM THE EXPERTS AT DICKSON REALTY.
The market activity for June 2016 was largely unchanged from the prior month.
The slow but steady increase of available listings for sale that we’ve enjoyed for the past several months ended in June, where we ended the month with 2,080 homes for sale.
This is not too surprising for real estate professionals, as the number of new listings in the month, combined with an increase in properties sold to reduce the total number of available homes for purchase.
In June, Reno/Sparks area REALTORS sold 618 homes, continuing a 3-month trend of increased sales activity. More home sales, fewer new listings and fewer available listings underscore what we have been reporting for some time; demand is very strong for homes in our area.
The median sales price in Reno/Sparks set another new milestone in June, with a high of just over $311,000; an 11% increase over last year. 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 June continued its blistering pace at just over 79 days! We are firmly in the traditional summer moving season, and 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.
What do these statistics mean to you? Buying or selling a home in today’s market can be a challenge. Having a market expert and professional REALTOR on your side is an invaluable asset. Your Dickson Realty agent can provide you with up to the minute information about local prices and trends to help you negotiate the best deal.
Trust the experts at Dickson Realty to get you the information you need, when you need it. We’ve been assisting buyers and sellers in northern Nevada for over 40 years, and we are the number one real estate company in the Reno, Sparks and Lake Tahoe market.
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