Dickson Realty Market Trends Q3 2018 Reno/Sparks

Market Trends

3rd Quarter 2018 Market Report for the Reno/Sparks Region

Compliments of your Dickson Realty Agent For more information about the real estate market, or to search for homes, visit DicksonRealty.com.

3rd Quarter

Median Sales Price & Average Sold Price per Square Foot

CONDO CONDO Median Sales $$ Year to year change +

Median Sales $$ Year to year change +

Median Sales $$ Year to year change +28.77%

Average Price/SF

Average Price/SF

Median Sales $$ Year to year change +25.88%

Average Price/SF

Average Price/SF

SPARKS

CONDO

CONDO Median Sales $$ Year to year change +

Median Sales $$ Year to year change +16.58%

Average Price/SF

Average Price/SF

Median Sales $$ Year to year change

Median Sales $$ Year to year change

Average Price/SF

Average Price/SF

CONDO Median Sales $$ Year to year change +

Median Sales $$ Year to year change +18.32%

Average Price/SF

Average Price/SF

CONDO Median Sales $$ Year to year change +

Median Sales $$ Year to year change +13.54%

Average Price/SF

Average Price/SF

CONDO CONDO Median Sales $$ Year to year change -0.16%

Median Sales $$ Year to year change

Average Price/SF

Average Price/SF

Median Sales $$ Year to year change

Median Sales $$ Year to year change

Average Price/SF

Average Price/SF

CONDO

Source: Northern Nevada Multiple Listing Service (NNRMLS), All Reno/Sparks areas (Area 100).

Ye

.

Av

Median Sales $$ ar to year change erage Price/SF

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

Reno-Sparks Market Update Reno/Sparks area REALTORS sold 439 single family homes in September, which was 126 fewer than August 2018, and 28% fewer than September, 2017.

The number of available homes increased less than 1% from August, with 1,377 homes active on the market in September. A more significant increase of 25% was observed when compared to September 2017. Inventory has been growing slightly each month since the beginning of the year, which is a welcomed relief to buyers in the region.

The median sold price for single family homes in Reno/Sparks increased by just over 1% in September, to $374,000. When compared to September of 2017, a more significant increase of 11%, or over $38,000 was realized.

“Median” means “in the middle”, so half of the homes sold for less and half sold for more. An annualized upward trend in median price is expected to continue for the foreseeable future.

Average Days on Market for homes sold increased slightly by 1 day from August to September to 77 days. At this time last year, Days on Market was 7% higher, or 83 days, so the Days on Market that we see today still represents a very fast paced market.

It is important to be prequalified with a lender before looking at homes to buy.

Whether buying or selling in a competitive market like we are experiencing, having an expert Dickson Realty agent on your side can help you buy or sell at the best price.

I’M LOCAL I’M GLOBAL® LOCAL EXPERTISE, GLOBAL CONNECTIONS, POWERFUL MARKETING.

WE MARKET YOUR PROPERTY TO THE WORLD. When selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World,® we have the resources to market your property to the highest possible number of potential buyers. With 130,000 talented associates around the world, we expose your property to buyers on six continents ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.

Leading Real Estate Companies of the World® is a pedigree denoting the very best companies who represent qualified clientele and wish to do business with similar firms. Each year our network is collectively responsible for over one million transactions on a global basis.

When your home is posted to our website locally, it is immediately promoted on the LeadingRE.com website. It is also immediately connected to the websites of over 565 of our affiliated real estate firms in the world.

WE’RE LOCAL WE’RE GLOBAL

®

1.1 MILLION TRANSACTIONS $372 BILLION IN HOME SALES 565 COMPANIES 4,300 OFFICES

565 FIRMS

130,000 SALES ASSOCIATES OVER 70 COUNTRIES

130,000

SALES ASSOCIATES

®

© 2018 Leading Real Estate Companies of the World. All Rights Reserved.

C–Local Expertise. 04.18

Equal Housing Opportunity

ENCOMPASSING

4,300 OFFICES OVER

70

COUNTRIES

Home Prices Over The Last Year

Home Prices Over the the Last Year

Every quarter, the Federal Housing Finance Agency (FHFA) reports on the year-over-year changes in home prices. Below, you will see that prices are up year-over-year in every region.

NEW ENGLAND

PACIFIC

7.68%

WEST NORTH CENTRAL

MOUNTAIN

9.54%

5.38%

EAST NORTH CENTRAL

5.81%

MIDDLE ATLANTIC

6.41%

5.36%

SOUTH ATLANTIC

6.82% EAST SOUTH CENTRAL

USA Average

WEST SOUTH CENTRAL

6.49%

4.95%

5.93%

Looking at the breakdown by state, you can see that over the past year, each state has appreciated at a different rate. This is important to understand if you are planning to relocate to a different area of the country as waiting to move may end up costing you more!

11.0% WA 7.9% OR

17.0% NV 7.1% CA

6.0% MT 13.1% ID

3.7% WY

11.3% UT

7.8% AZ

9.6% CO

4.9% NM

2.6% AK

VT (5.7%)

2.1% ND

6.3% MN

4.5% SD 6.9% NE 5.6% KS 3.4% OK

5.9% TX

6.6%

ME

NH (6.7%) 7.1% WI

6.0% IA 4.1% IL

7.7% MI 5.8% OH

8.3% IN

5.7%

5.2% KY

MO

4.9% PA 2.3%

WV

7.5% TN

3.7% AR 2.3% LA

6.5% NY

MA (5.9%) RI (8.1%) CT (2.4%) NJ (4.1%) DE (4.3%)

4.3% VA 6.2% NC

MD (3.8%) DC (11.8%)

8.3% SC 3.2% MS

6.1% AL

8.1% GA

< 0.0% 0.0% to 2.9% 3.0% to 7.9% > 8%

4.7% HI

8.5%

FL

Source: Keeping Current Matters 5

DOWNTOWN RENO 775.324.7000

CAUGHLIN RANCH 775.746.7000 TRUCKEE 530.587.7444

DAMONTE RANCH 775.850.7000 DONNER LAKE 530.587.4811

SOMERSETT 775.746.7222

MONTRÊUX 775.849.9444

SPARKS 775.685.8800

PORTOLA 530.832.1700

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© 2015-2018--- 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.