RSAR Monthly Market Report for Reno-Sparks, Nevada – March 2018

The Reno/Sparks Association of REALTORS® (RSAR) has released its Market Report for Reno-Sparks the month of March 2018.

From March’s report…

The lack of inventory continues to drive sales price up. First quarter new listings were up 1% compared to the same period 2017,” said Doug McIntyre, 2018 RSAR President. “While this is not keeping up with demand, it’s a positive early indicator as we approach the spring selling season.

  • The March median price at $375,000 is up 2% from February and up 18% from a year ago.
  • March unit sales at 528 are up 19% from February and down 6% compared to March 2017.
  • March new listings are down 3% at 551 compared to February and down 20% from one year ago.
  • The Reno market is a seller’s market, at 1.1 months supply of inventory. Months supply of inventory is the time it would take to exhaust the active inventory at the current rate of sales.
  • The March median sales price at $375,000 reached a new record high for the Reno/Sparks area since the boom and bust twelve years ago.

Click on the graph below to see the entire RSAR market report for March…

Related post: RSAR Monthly Market Report for Reno-Sparks, Nev. – February 2018

About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
This entry was posted in Market Trends and tagged , , , , , , , , , , , . Bookmark the permalink.

One Response to RSAR Monthly Market Report for Reno-Sparks, Nevada – March 2018

  1. Pingback: RSAR Monthly Market Report for Reno-Sparks, Nevada – June 2018 | Reno Real Estate Blog

Leave a Reply