The Reno/Sparks Association of REALTORS® has released its real estate market report for April 2014. The report can be accessed by clicking on the chart below.
Commentary from April’s report:
“The acceleration in median price has slowed in comparison to the rapid increase in median price that we saw in 2012 and early 2013,” said Mark Ashworth, 2014 president of the Reno/Sparks Association of REALTORS. “However, the major problem in the market continues to be low inventory of available homes. Buyer demand and low inventory keeps it a seller’s market. For example, Reno has only 3.5 month’s supply of inventory, the lowest level in history. Despite this, it’s still a great time to buy.”
April 2014 median price was up 0.9% to $230,000 compared to $227,999 in March 2014 and up 12.2% compared to $205,000 in April 2013.
April, 2014 units sold was up 6.1% to 508 compared to 479 in March, 2014 and up 5.2% compared to 483 in April 2013.
related post: RSAR Monthly Market Report – March 2014