“We are seeing a leveling trend of the median sales price in the area,” said Doug McIntyre,
2018 RSAR President. “Since March of this year, median price in the Reno/Sparks has hovered
in the $370K to $375K range, except during the summer months, when it reached a high of
- The September median price at $374,000 is up 1% from August and up 11% from a
- September unit sales at 439 are down 22% from August and down 28% compared to
- September new listings are down 22% at 630 compared to August and up 10.3% from
one year ago.
- The Reno market is a seller’s market, at 3.1 months supply of inventory. Months supply
of inventory is the time it would take to exhaust the active inventory at the current rate of
- During the month of September, there were 630 new listings compared to 809 in August,
down 22.1%. Even with the decline in month-over-month new listing inventory, year-todate
new listings are up 2% compared to 2017.
- Active inventory at 1,377 has been increasing after a low of 646 in January 2018.
- Increasing inventory is a good sign of a healthy market and it is taking the pressure off
- September’s active inventory at 1,377 is still 67% below the active inventory high water
mark of 4,148 reached in August 2006.
- Months Supply of Inventory at 3.1 is at a four-year high, but remains a seller’s market.
- Days to contract for September are at 42, down 12% from September 2017.
- Properties are remaining on the market an average of 77 days down 7% from September 2017.
- Sellers are receiving an average of 98.6% of list price down less than 1% from