Market Report – DOM and Median Price – Reno/Sparks
Demand for housing in the Reno/Sparks region remains strong, which is keeping upward pressure on home prices, while market times remain fast. Here’s the latest info from the experts at Dickson Realty.
When discussing median price, median means “in the middle”, so half of homes sold for more and half sold for less. According to the Reno-Sparks Association of REALTORS, the regional median price stabilized last month with only a slight 1% decrease from June to July, to $525,000. Year-over-year median price is up by 21%, and we expect it to continue trending up in the coming months, but likely at a slower pace. As of August 25th, the median price for the month of August is $549,750, but the sales activity in the final days of August may change this number slightly.