The Reno/Sparks Association of REALTORS® recently released their April 2015 Reno Home Sales report. The RSAR gathered information from the Northern Nevada Regional MLS to create their report. The Reno community saw an increase in total sales as well as median sales price.
What Did the April 2015 Reno Home Sales Report Say?
According to the April 2015 Reno Home Sales Report, a total of 533 Reno homes were sold between April 1st and April 30th, 2015. This made up 67.9% of the total sales for the entire Washoe County. It was also a 3% increase from total sales in April 2014 and an 8% increase from just one month prior. The median sale price for a Reno home was $281,000, a 21% increase from the same time last year. This was less than 1% higher than the median sale price in March 2015.
These figures are all based on existing single-family homes, including foreclosures. They did not include condos, townhomes, manufactured homes or brand new construction. The median sales price for a Reno condo or townhome was $125,000, a 65% increase from April 2014.
What Does This Mean for Reno Real Estate?
The April 2015 Reno Home Sales Report means great things for Reno Sellers. Reno foreclosures have declined by almost half: from 21% in April 2014 to 11% in April 2015. This means a lower inventory of distressed properties is available for the market. A lower inventory means more competition among Buyers. More competition means a higher sale price. Even with prices on the rise, there are still plenty of properties well within an affordable price range.
Are you looking to sell your Reno home soon? Do you want to buy a Reno property in the next six months or so? Tell me what your plan is and what you want to see happen in the Reno real estate market in the comments below.
Charlene Hamilton, Your Reno Real Estate Specialist
Originally posted on my Reno real estate blog here: http://charlenehamiltonrealestate.com/reno-home-sales/april-2015-reno-home-sales.
Comments(1)