Reno/ Sparks December Market Report
December’s Inventory was at a Historic Low!
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- December new listings are down 11% at 353 compared to November and up 23% from December 2014.
- The Reno market remains in a seller’s market at 2.8 month’s supply of inventory. Month’s supply of inventory is the time it would take to exhaust the active and pending inventory at the current rate of sales.
“The median price has remained stable since July of this year with $290,000 being the median sales price point for four of the past six months,” said William Process, 2016 president of Reno/Sparks Association of REALTORS®. “Overall, the market is showing strong signs of stability.
- The median price has remained stable since July of this year – at the $290,000 price point for four of the past six months. Overall the market is showing strong signs of stability; however affordability for the median household income of $54,000 remains a concern.
- Sales in the Reno market for the year ending 2015 were at 6,310 up 6% from 2014.