Dickson Realty Market Trends Reno-Sparks, 1st Quarter 2016

Market Trends Q1 2016 Market Report for the Reno/Sparks Region

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1st Quarter

Median Sales Median SalesPrice Price & and Average Sold Price per Square FootFt Average Sold Price per Sq SPANISH SPRINGS

NORTH VALLEYS

SINGLE FAMILY

CONDO

SINGLE FAMILY

Median Sales $$ Year to year change +

Median Sales $$ Year to year change +

Median Sales $$ Median Sales $$ Year to year change  �

Year to year change - Â?

Average Price/SF

Average Price/SF

Average Price/SF

CONDO

Average Price/SF

NORTH URBAN

SINGLE FAMILY

CONDO

Median Sales $$ Year to year change +

Median Sales $$ Year to year change -Â?Â?

Average Price/SF

Average Price/SF

SPARKS

SINGLE FAMILY

NEW NORTHWEST

SINGLE FAMILY

CONDO

Median Sales $$ Year to year change +€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   Year to year change  ��

Average Price/SF

OLD SOUTHWEST

SINGLE FAMILY

CONDO

Median Sales $$ Year to year change  ‚

Median Sales $$ Year to year change  €

Average Price/SF

Average Price/SF

SINGLE FAMILY

CONDO

Median Sales $$ Median Sales $$ Year to year change  ‚ Year to year change  Average Price/SF

Average Price/SF

Source: Northern Nevada Multiple Listing Service (NNRMLS)

NEW SOUTHEAST

SINGLE FAMILY

CONDO

Median Sales $$ Median Sales $$ Year to year change  ��  Year to year change  ƒ Average Price/SF

NEW SOUTHWEST

Average Price/SF

Average Price/SF

Housing Market Update First Quarter Prices Trend Up Let’s review the Reno/Sparks housing market activity, comparing activity for March, 2016 to February, 2016, and also to data from March, 2015.

According to the Reno Sparks Association of REALTORS*, the median Sold Price for single family homes in the Reno/Sparks area rose 2.1% to $296,000 from February to March, 2016. When we compare March 2016 with the prior year, Median Price in our region is up 8.3%.

The number of homes sold, or Units Sold, is fluctuating; up 52.7% month over month, but up just 1.5% when comparing year over year data. As we continue to see more homes come onto the market in the ramp up to the spring and summer selling seasons, the number of homes sold is expected to stabilize.

The number of New Listings, supports this opinion. The number of new listings on the market in the month of March increased to 736 homes, which is a 28% increase over February.

As we look at the Inventory numbers, there were 1,543 homes available for sale at the end March; a 4% decrease from February’s 1,611 homes, and a 10% decrease from March, 2015.

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 March 2016, which is a staggering 37% decrease from February, and an 11% decrease from last March.

What does all this information mean to you as a home buyer or seller? A prolonged inventory shortage and continued low mortgage rates will continue to put upward pressure on median prices, which is good for sellers, but brings many challenges to home buyers in the region.

Spring will allow our area’s new home developers to begin building again, and as the end of the school year draws near more people will start to think about moving. Both activities will bring some relief to our constrained housing inventory.

Dickson Realty Among Top U.S. Brokers Designated Top Reno-Tahoe Firm and in the Top 275 Nationwide Two of the most trusted and leading sources of real estate information have ranked Dickson Realty the leading real estate brokerage firm in Reno-Tahoe.

REAL Trends, a national publishing and communications company based in Denver, Colo., has Dickson Realty on its prestigious list in the 2015 “REAL Trends 500,” an annual study that represents the standard of measuring performance of the nation’s leading realty service firms.

Dickson Realty is the leading Reno-Tahoe firm, and is tabbed the 210th largest real estate firm in the nation by dollar sales volume, and 273rd largest real estate firm in the nation by number of transactions.

Now in its 29th year, the study remains the undisputed leading report ranking the performance of the top residential real estate brokerage firms. Firms are ranked by both sales volume and transaction sides. A side is when a real estate firm represents either the buyer or the seller in a real estate transaction. Due to the requirement that all information be independently verified, the REAL Trends 500 remains the trusted source for information about the performance of these firms.

“We believe strongly that only verified submissions are permissible and we take every step possible to ensure that the data in this report is accurate,” said Steve Murray, president of REAL Trends. “This rigorous verification is what makes the REAL Trends 500 the leading standard in the industry for this data.”

In addition, RISMedia’s 28th Annual Power Broker Report & Survey also put Dickson Realty as the leading Reno-Tahoe firm by sales and transaction volume, and is tabbed 212th and 274th in the nation by sales and transactions respectively. The report is based on the top 1,000 respondents to a survey that ranks residential real estate brokerage firms according to closed transaction numbers and closed sales volume for the year 2015.

“Being ranked high on two national lists and first in Reno-Tahoe is truly an honor, and a reflection of our commitment to the communities we serve with the best in real estate,” said Nancy Fennell, president of Dickson Realty. “It is important to give our clients exceptional service with buying and/or selling their home. Dickson Realty agents are experts providing experience and market leadership. The rankings are a true testament to these values.”

The REAL Trends and RISMedia reports listed Dickson Realty with 2,751 closed transaction sides and $995,066,113 in sales volume in 2015.

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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.