RSAR Monthly Market Reports – May 2012

May 2012’s market reports, provided by our friends at the Reno/Sparks Association of REALTORS^®, have been released. May’s reports can be accessed with these links:

• Greater Reno/Sparks Market Report – May 2012
• Fernley Market Report – May 2012

Commentary from the Reno/Sparks Market Report…

“May 2012 is the first month in 72 months that we have seen a significant increase in year-over-year median sales price,” said Kevin Sigstad, 2012 president of the Reno/Sparks Association of REALTORS and the broker with Re/Max Premier Properties. “The four month upward trend in median sales prices coupled with the near record home sales is a positive sign that buyers and investors are taking advantage of affordable pricing and low interest rates. Equity homeowners who are considering selling, as well as homeowners who have a hardship and are considering a short sale, should be taking advantage of the current seller’s market we are experiencing with high demand and low inventory. We cannot predict how long this seller’s market will continue.”

May 2012 median price was up 8.2% to $165,000 from $152,500 in April 2012 and up 10% from the May 2011.

Reports provided by permission of the Reno/Sparks Association of REALTORS^®