The Reno/Sparks Association of REALTORS® (RSAR) has released its Fernley Market Report for November 2018.
From November’s report…
“The trend in rising median price is slowing which can be attributable to the winter season and an increase in interest rates as the Federal Reserve adjusts for inflation,” said Doug McIntyre, 2018 RSAR President. “All indicators point to a correction in the market as opposed to a real estate bubble.”
- The median price at $265,000 is up 3% from October and up 8% from November 2017.
- Fernley’s unit sales at 43 are down 7% from October and down 4% from November 2017.
- November new listings at 30 are down 48% from October and down 47% from November 2017.
- The Fernley market has 2.6 months supply of inventory, a seller’s market.
Click on the graph below to see the entire RSAR market report for November.