October Median Home Prices for Reno - Sparks

October numbers are in.  We saw an unexpected bump up in the median sold price for October over September; $289K over $285K, respectively.  Is this it?  Have we finally hit the bottom of the housing market?  No, I believe it's a blip that will disappear, probably by the time I post November numbers next month.  The fact is, the number of sales (units) continue to decrease, while inventory continues to rise, increasing the DOM (days on market) and placing downward pressure on for sale prices.  As an example the median price of those houses currently under contract (e.g. homes expected to close in the next month or two) is $283,950.  See all the numbers here.