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** Data in this report reflect market activity from October 2019 compared to September 2019 and October 2019 compared to October 2018. Information is gathered from the Reno-Sparks Association of Realtors® (RSAR) for the Greater Reno-Sparks region via Northern Nevada Regional Multiple Listing Service (www.nnrmls.com). Data accounts for single-family resale residences only, and excludes townhouses/condos and new construction.
- October 2019 Median Sales Price for single-family re-sale properties in Reno-Sparks (excluding condominiums/townhouses) rose slightly by 1.3% from September 2019 to October 2019 ($395,000 to $399,995). The Median Sales Price is up about 4% from this same time last year.
- # of Units Sold single-family residences dipped from 573 to 546 (-4.7%) from September to October 2019. However, unit sales were up about 16.7% from the same time last year.
- Average # Days to Contract has risen sharply, both from September to October 2019 and from the same time last year.
- The market saw a minor decrease in the Average Sold $/Sqft, dropping just 1.5% from September to October 2019, and a mini increase of 1.2% from October of last year.
CONCLUSIONS:
- The above statistics are extremely consistent with typical market trends this time of year.
- Though the unit sales are down from the previous month, they were significantly more sold this year compared to last year.
- Average $/square foot sold is holding fairly steady at $223/sqft.
- Data for inventory and property status is missing from RSAR reports this month and will be updated when available.
- Each neighborhood/area in Northern Nevada Regional MLS has its own micro-market. For specific information about YOUR neighborhood, contact me at 775.233.0682 or email me at dhallerbach@intero.com.
