Market Trends Year-End 2015 Market Report for the Reno/Sparks Region
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3rd Quarter
Median Sales Median SalesPrice Price & and Average Price Price per Square Average Sold perFoot Sq Ft SPANISH SPRINGS
NORTH VALLEYS
SINGLE FAMILY
CONDO
Median Sales $$ Median Sales $$ Year to year change + Year to year change + Average Price/SF
Average Price/SF
SINGLE FAMILY
CONDO
Median Sales $$ Year to year change
Median Sales $$ Year to year change Â
Average Price/SF
Average Price/SF
NORTH URBAN
SINGLE FAMILY
CONDO
Median Sales $$ Median Sales $$ Year to year change + Â? Year to year change Average Price/SF
Average Price/SF
SPARKS
SINGLE FAMILY
NEW NORTHWEST
SINGLE FAMILY
CONDO
Median Sales $$ Year to year change +Â Â Â? Â?
Median Sales $$ Year to year change + Â Â?
Average Price/SF
Average Price/SF
CONDO
Median Sales $$ Median Sales $$ Year to year change  Year to year change �� � Average Price/SF
Average Price/SF
OLD SOUTHEAST
SINGLE FAMILY
CONDO
Median Sales $$ Median Sales $$ Year to year change  Â? Year to year change ÂÂ? Average Price/SF
OLD SOUTHWEST
SINGLE FAMILY
CONDO
Median Sales $$ Year to year change Â?
Median Sales $$ Year to year change Â?
Average Price/SF
Average Price/SF
SINGLE FAMILY
CONDO
Median Sales $$ Year to year change
Median Sales $$ Year to year change -
Average Price/SF
Average Price/SF
Source: Northern Nevada Multiple Listing Service (NNRMLS)
Average Price/SF
NEW SOUTHEAST
SINGLE FAMILY
CONDO
Median Sales $$ Median Sales $$ Year to year change Â? Â? Year to year change Average Price/SF
NEW SOUTHWEST
Average Price/SF
Housing Market Update Let’s review the Reno/Sparks housing market activity, comparing activity for December, 2015 to November, 2015, and also to data from December, 2014.
As we look at the Inventory numbers, there were 1,363 homes available for sale in December; a 20% decrease from November’s 1,709 homes, and a 15% decrease from December, 2014.
According to the Reno Sparks Association of Realtors*, the median Sold Price for single family homes in the Reno/ Sparks area remained even at $290,000 from November to December, 2015. While national headlines of a housing slowdown are making news, when we compare December 2015 with the prior year, Median Price in our region is up 10.7%.
All this information allows us to calculate the Months of Available Inventory, which has been at near historic lows in the most active price ranges below $600,000 for quite some time. Overall, there was a 2.8 months’ supply of inventory in December 2015, which is an 8% decrease from December 2014, and a staggering 29% decrease from November 2015.
The number of homes sold, or Units Sold, is fluctuating; up 13.5% from November to December, 2015, but down 7.7% when comparing year over year data. This is attributed more to a lack of inventory than any other factor. If more homes were available on the market to be sold, we would see the number of sold homes increase. The supporting data for New Listings, Available Inventory and Months of Inventory all support this opinion. The number of new listings on the market in the month of December dropped to 353 homes. Although it is a larger number than December 2014, it represents an 11% decrease from November, 2015.
What does all this information mean to you as a home buyer or seller? A prolonged inventory shortage will continue to drive higher median prices, which is good for sellers, but brings many challenges to home buyers in the region. As spring months approach, our region normally experiences an increase in resale inventory. Spring will also allow our area’s new home developers to begin building again. Both activities will bring some relief to our constrained housing inventory. Dickson Realty offers many ways to help you search for homes, connect with a neighborhood expert agent, and stay informed with the latest Market Trends from Dickson Realty: • Visit our award-winning website at www.DicksonRealty.com • Download our free mobile app from the Apple or Google Play store • Follow our social channels on Facebook, Twitter and LinkedIn • Call or stop by one of our offices throughout the Reno/Sparks area Whether you are buying or selling, when you are ready to move, talk to a Dickson Realty neighborhood expert first. At Dickson Realty, our agents have the best tools, training and technology to stay on top of the market, and to help you make an informed decision about the purchase or sale of your home.
*Source: Reno Sparks Association of Realtors, Market Insight Report, December 2015.
Dickson Realty Market Trends To hear the latest market news and statistics, and to see Dickson’s Featured Listings, be sure to “Like” us on Facebook, or read our blog at www.DicksonRealty.com/Blog. You’ll have access to our exclusive video content, and see newly listed homes every day.
We are the Region’s #1 Real Estate Company As we enter 2016, our Brokers, Agents and Employees would like to thank you, our valued clients, for helping to make Dickson Realty the Number One real estate company in Reno/Sparks for 2015. We are honored to be your real estate advisors for life and for generations to come. Dickson Realty is the market leader, with nearly 16.5% percent market share by volume in all price ranges in Reno and Sparks*.
Year over year, Dickson Realty helps more people buy and sell homes in our region than any other company. The trust you place in us provides Dickson Realty with 1.6 times more market share by volume than the closest competitor! Why does Dickson Realty’s market share matter to you? We know that every client has a choice in real estate companies. Not only do we list and sell more homes, we are your local neighborhood experts. Our award winning website and mobile apps update every 30 minutes, so you will know about new listings faster. Plus, our agents have the best training, tools, and technology available in the industry to help make your home buying or home selling experience be the best one possible. Buyers and sellers alike can find the latest trends and information on our website at DicksonRealty. com. If you’re social, be sure to like us on Facebook, or follow us on LinkedIn, Twitter and Google+ to see our exclusive featured listing videos, market news and Eagle Home Mortgage updates. If you’re thinking of listing your home for sale, or are exploring your options to purchase a home, contact one of our experienced Dickson Realty agents today. *Sale of Rancharra excluded from NNRMLS 2015 transaction volume.
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DOWNTOWN RENO 775.324.7000
CAUGHLIN RANCH 775.746.7000
DAMONTE RANCH 775.850.7000
SOMERSETT 775.746.7222
TRUCKEE 530.587.7444
GRAEAGLE 530.836.1700
DONNER LAKE 530.587.4811
MONTRÊUX 775.849.9444
SPARKS 775.685.8800
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© 2015-2016 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy. If your property is currently listed for sale, this is not intended to be a solicitation.