Welcome to the latest market update for Reno, Sparks, and Northern Nevada! Whether you're a current resident or considering a move to this beautiful region, stay informed about the local real estate trends with our detailed monthly update.
Key Highlights:
- Inventory Trends: Inventory is starting to rise, with homes taking slightly longer to sell. This month saw 67 more homes on the market in Reno-Sparks.
- Median Home Prices: The median home price for single-family homes in Reno-Sparks jumped from $565,000 in April to $587,000 in May, the highest in the last 13 months.
- Days to Contract: The median days to contract increased from 9 to 11 days, indicating a slight slowdown in the market.
- Price Point Analysis: Homes in different price ranges showed varied trends. For instance, homes priced between $1 million and $1.5 million saw a decrease in days to contract, while those between $500,000 and $600,000 saw an increase in inventory.
- Pending Sales: The number of pending sales in May was lower than last year, with 435 homes under contract, highlighting fewer buyers in the market.
- Local Market Breakdown: Specific data for Reno, Sparks, Carson City, Fernley, Gardnerville, and Minden, including median home prices and inventory levels.
Looking Ahead:
- Forecast: With new listings and rising inventory, we may see home prices soften slightly in the coming months.
- Hyper-Local Insights: Detailed statistics for individual cities and price ranges to help you understand the market dynamics better.
Join Us:
- Portraits in the Park Event: We are hosting a client appreciation event soon. Whether you are a past, current, or potential future client, we invite you to join us for this fun and engaging event.
If you have any questions about the market or are considering buying or selling a home in Reno, Sparks, or Northern Nevada, feel free to reach out. Comment below, message us directly, or send an email. We are here to help you navigate the real estate market with ease.
Thank you for watching, and have a great month!
Want to connect to learn more? Call or text me and let's chat!
📱 775-636-8250
Facebook: GarrettSellsReno
Instagram: GarrettSellsReno
Thanks again for watching!
Garrett Stewart
Realtor | S.0179908
Keller Williams Group One, Inc.
Call/Text: 775-636-8250
Web: GarrettSellsReno.com
Email: garrett@garrettsellsreno.com