The Reno/Sparks Association of REALTORS® (RSAR) has released its Market Report for the month of April 2016. As expected, the RSAR’s numbers are consistent with the market data I reported on for April earlier this week.
From the RSAR report:
- With demand exceeding supply, homebuyers may be facing an uphill battle to find the perfect home this spring. Total housing inventory at the end of April was 1,742 existing homes available for sale in the Reno/Sparks area. This is level with last year. At a 3.2 month supply of inventory, this is below the roughly six month supply level needed for a balanced market between buyers and sellers.
- Median price is essentially level, down less than 1% from April and up 8% from April 2015.
- New Listings are up 9% from April and up 6% from April 2015 at 835 units. This is the highest number of new listings since June 2008.?
- In April, the average days on market was 92, level with April 2015.
- The average days from listing date to contract date was 28 days compared to 38 in April ?of 2015.
Click on the chart below to access April’s Market Report…
Source: Reno/Sparks Association of REALTORS®
Related post: RSAR Monthly Market Report – February 2016
