The Reno/Sparks Association of REALTORS® (RSAR) has released its Reno-Sparks Market Report for August 2018.
From August’s report…
“During the month of August, there were 778 new listings,” said Doug McIntyre, 2018
RSAR President. “Since January of this year, active inventory levels have been trending up and reached a 21-month high in August. Months Supply of Inventory also reached a 16-month high at 2.4 months. The increasing levels in inventory should take some of the stress off median price.”
- The August median price at $372,551 is down 4% from July and up 6% from a year ago.
- August unit sales at 542 are down 4% from July and down 23% compared to August 2017.
- August new listings are up 10% at 778 compared to July and up 4% from one year ago.
- The Reno market is a seller’s market, at 2.4 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.
Click on the graph below to see the entire RSAR market report for August…