The Reno/Sparks Association of REALTORS® has published the Market Reports for March 2011. You may access these .pdf reports here:
From the Reno/Sparks Market Report…
- Homes at the current median price align with the area median income levels. This creates a perfect opportunity to make homeownership a reality. It allows a family or individual to put down roots and enjoy homeownership. At the current median price and historic low interest rates, an individual or family with an income of about $42,000 can afford the median price home in the greater Reno/Sparks area.
- March’s unit sales are the third best March in the history of sales reported through the MLS. Statistical records date back to 1989.
- Beginning in December 2010, this is the fifth consecutive month the market has seen record or near record numbers in year over year sales.
- Year-to-date 2011 sales are 111 sales ahead of 2010.
- Year-over-year March median sales price is down 8.6%. Spring typically begins the trend of improving prices after the winter cool down.
Reports reprinted with permission by the Reno/Sparks Association of REALTORS®.
