Dickson Realty Market Trends Mid-Year 2019 Report

Market Trends 2019 Mid-Year Market Report for the Reno/Sparks Region

Cover Home: 1491 Fraun Court, Sparks, NV 89436 NNRMLS #190009793 For more information about the real estate market, or to search for homes, visit DicksonRealty.com.

RENO/SPARKS

Reno/Sparks Regional Price Map 2nd Quarter 2019, as of July 3, 2019

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

Median Sales $$ +/- 0% Year to year change +10.87% Average Price/SF

CONDO Median Sales $$ Year to year change

+

Median Sales $$ Year to year change -18.75% Average Price/SF

Average Price/SF

SPARKS

CONDO

CONDO Median Sales $$ Year to year change +

Median Sales $$ Year to year change +8.13%

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 Average Price/SF

+

Median Sales $$ Year to year change +13.27% Average Price/SF

CONDO Median Sales $$ Year to year change

-4.35

Average Price/SF

Median Sales $$ Year to year change +3.77% Average Price/SF

CONDO

CONDO

Median Sales $$ Year to year change

Median Sales $$ Year to year change

Average Price/SF

Average Price/SF

Median Sales $$ Median Sales $$ Year to year change +7.28% Year to year change Average Price/SF

Average Price/SF

ource: Northern Nevada Multiple Listing Service (NNRMLS), ll Reno/Sparks areas A (Area 100)

CONDO

.

Median Sales $$ Year to year change ,

Median Sales $$ Year to year change

Average Price/SF

Average Price/SF

What is My Home Worth?

No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging.

While convenient and sometimes relied upon by home shoppers, online estimates are often not accurate, because a computer algorithm alone cannot adjust for a recent remodel project or a view that neighboring homes may not have. That’s where your local Dickson Realty real estate professional and the Comparable Market Analysis, or CMA, can be useful.

WHAT IS A COMPARABLE MARKET ANALYSIS OR CMA? The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data fields such as single-family residence or condo, number of bedrooms, number of baths, zip codes, and many other factors. Its purpose is to show fair market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.

HOW IS THE CMA CREATED? CMAs are generated by a real estate professional and the local multiple listing service (MLS). The MLS is available to licensed members only, including real estate brokers, salespeople, and appraisers, who pay dues to gain access to the service’s public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate CMAs for their sellers, and buyer’s agents create them for their buyers so both sides know what current market conditions are for the homes they’re interested in comparing.

HOW ACCURATE IS A CMA? The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing – new listings, pending sales, closed sales, price reductions, and expired listings.

CMAs can vary widely, depending on the knowledge and skill of the person inputting the search parameters to the software as well as the number and type of data fields that are chosen. That means some features may not be included.

As informative as the CMA is, it should not substitute for a real estate professional’s knowledge and advice.

Contact your Dickson Realty neighborhood expert today to obtain your personalized CMA.

I’M LOCAL I’M GLOBAL

®

INDUSTRYLEADING SALES. WORLD-CLASS SERVICE.

MORE U.S. HOME SALES VOLUME $32 BILLION MORE U.S. HOME SALES VOLUME IN 2018 THAN OUR CLOSEST COMPETITOR AMONG THE TOP 500 FIRMS 300

Leading Real Estate Companies of the World® Keller Williams

GLOBAL TRANSACTIONS

565 COMPANIES

4,300 OFFICES

130,000 SALES ASSOCIATES

OVER 70 COUNTRIES

250

Non-LeadingRE Independents Berkshire Hathaway Home Services RE/MAX

$222

Sotheby’s International Realty Century 21

200

HomeSmart

$192

ERA

$182

Better Homes & Gardens Realty Executives Exit Realty

150

100

®

Leading Real Estate Companies of the World

1.1 MILLION

Coldwell Banker

$254

$89

$83 $72

50

$30 $14

$14

$12

$7

$.5

0

Volume shown in billions of dollars This bar chart is sourced from REAL Trends Top 500 for 2018, realtrends.com

®

© 2019 Leading Real Estate Companies of the World. All Rights Reserved.

C–Sales Volume. 04.19

Equal Housing Opportunity.

As an affiliate of Leading Real Estate Companies of the World,® Dickson Realty is a local and global market leader working on your behalf. LeadingRE’s world-class marketing resources and connections allow us to provide you with a truly exceptional real estate experience.

Reno/Sparks Market Overview As of June 30th, there were 1,265 single family homes available for purchase, which is a 9% increase over the last month. A larger increase of 37% was realized since this time last year, providing needed relief to homebuyers in our region. Sixty-nine percent of available homes are priced under $600,000.

For homes priced under $300,000, we only have 29 days of inventory, and for homes in the range of $300,000 to $600,000, inventory is 2.5 months.

If you own a home in either of these price ranges, it is a very good time to sell with little competition in the marketplace. Inventory of homes priced from $600,000 to $900,000 is 5.2 months, and the $900,000 to $1,500,000 price range is 5.6 months. These two price ranges represent the most balanced market between buyers and sellers. For homes priced over $1,500,000, we have a 14.8 month supply.

A five to six month supply of homes represents a balanced market, where neither buyers nor sellers have a distinct advantage.

The number of home sales in June decreased by 154 sales, or 22% over the month of May. Yearto-date, 86% of home sales in Reno/Sparks have been under $600,000, and 9% of sales have been between $600,000 and $900,000. About 5% of sales have been over $900,000.

The summer selling season is upon us. If you would like to take a deeper look into the market conditions of your neighborhood, or receive monthly updates on market conditions, contact your Dickson Realty agent today.

Why We Think Wingfield Springs... ... is a fantastic place to live Several of our agents are long-time residents of Wingfield Springs in Sparks, and can sing the praises of this neighborhood all day, every-day. From the beautiful outdoor surroundings to the excellent educational opportunities to the friendly community, there’s so much to love about Wingfield Springs. However, don’t just take our word for it. I gathered some of my fellow Dickson Realty agents in the Sparks office for a round-up about what we love about this master planned community.

Great Schools: Our agents can personally can attest to the quality of the schools. Wingfield Springs is served by the Washoe County School District, and include Van Gorder and Spanish Springs Elementary schools, Shaw Middle, and Spanish Springs High School. The parent to teacher interaction is also highly interactive, and we think that is a big benefit.

Welcoming Community: Living in Wingfield Springs often includes a large group of friends and neighbors. The community aspect is phenomenal. Living in Wingfield Springs is for all age groups and family types; from young professionals to growing families to empty nesters.

Recreation and Outdoors: People who live in Wingfield Springs really love the recreation and outdoors opportunities. There are recreation trails, hiking trails, golfing, and more. The nearby Lazy 5 Regional Park offers athletic and multipurpose fields, barbecue and picnic areas, recreation programs, a summer concert series, and even a kids water play park.

Why We Think Wingfield Springs... ... is a fantastic place to live Red Hawk Golf and Resort: Red Hawk Golf and Resort is really the hub of the community. In addition to the two beautiful golf courses, a swim and fitness center, a special events venue, it’s also home to David’s Grill. There’s no better place to be on a Wednesday night than David’s!

Beautifully Maintained: The home owner‘s association, along with the maintenance crews take wonderful care of the community. The landscape is lush and it’s well maintained.

Nearby Shopping And Dining: You don’t need to travel far to get to great retail and restaurants. The Spanish Springs Galleria shopping center offers convenient access to Costco, Home Depot and Best Buy, while a little farther down the road is the Outlets at Sparks with Scheels and an IMAX theatre.

There are many reasons to love Wingfield Springs, from the peaceful and well-maintained community to the nearby outdoors and shopping. Watch this video to learn more:

If you’d like to find out about homes or custom lots for sale in Wingfield Springs, stop by the Dickson Realty Sparks office at 4870 Vista Boulevard, or call 775-685-8800.

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

DicksonRealty.com | info@dicksonrealty.com

© 2019--- 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.