The March 2018 Reno-Sparks Market Report showed prices hit record highs yet again, with inventory on the decline. However, Spring remains a hot selling season in the local marketplace. So, we might see more inventory available in the next couple of months. Will this lower prices? We’ll have to wait to see.
Low inventory and high buyer demand have forced sale prices to their highest levels ever, according to the February 2018 Reno-Sparks Market Report. Pending sales are slightly outpacing new listings, depleting current available inventory. This could be the norm for the Reno-Sparks real estate market for several months to come.
Buyer demand continues to drive inventory down and prices up, according to the January 2018 Reno-Sparks Market Report. The new tax bill may encourage nearby residents of California’s Bay Area to seek homes in the Reno area, forcing demand and prices up even more this year.