The Reno/Sparks Association of REALTORS® (RSAR) has released its Market Report for the month of December 2016.
From December’s report…
“With the recent slowdown in sales and the leveling in median price, many are asking, “Are we looking at another real estate bubble?” said John Graham, 2016 president RSAR. “All the indicators say no. If you look at pending sales, unit sales, new listings and median price there is no one factor that is out of alignment or indicating signs of a bubble. They are all following a more seasonal trend.”
- The median price at $299,950 is down 3.2% from November and up 3.6% from December 2015.
- December unit sales at 518 are down 3.2% from November and up 3.2% compared to December 2015.
- December new listings are down 27% at 316 compared to November and down 13% from December 2015.
- The Reno market remains in a seller’s market, at 3.0 months supply of inventory. A months supply of inventory is the time it would take to exhaust the active and pending inventory at the current rate of sales.
Click on the graph below to see the entire report for December.
Related post: RSAR Monthly Market Report – October 2016