Reno/Sparks Real Estate Stats For August 2014 (Video)

By
Real Estate Agent with Keller Williams Realty Group One Inc.

Thanks to the Reno/Sparks Association of Realtors for the updated stats.reno sparks real estate market report

The full stats can be viewed here... RSAR Market Report with a summary of the main points below.

  • The median sales price stayed at $250,000 for the third straight month. Comparable to August of 2008. We've been expecting this after the crazy wave of price increases in the previous year.
  • Average price per sqft. is $143. A slight drop from the previous month.
  • Number of homes sold went up to 565. The highest mark since in a year. Typical of this time of year.
  • Average days on market for sold properties was 83 days. That's a little over a month of marketing time before an accepted offer.
  • New listings dropped to 650. 89% of them were regular sales. The days of short sale and foreclosure mania is over.
  • The months supply of inventory dropped down to 3.8 months. Don't let that stat fool you. With the average sold price to list price ratio of 98% many sellers are having to reduce their prices in order to get an offer.

If you have questions about buying or selling contact me at (775) 393-9601 or Ricky@RickyBeach.com.

For more information on the affordability index in Reno and Sparks watch the video below.

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Ricky Beach

Reno Broker/Salesperson/Realtor
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