What’s Happening in Our Market?
An update on what’s happening in the Reno/Sparks real estate market.
We are in a seller's market like we've never seen before. It's a very interesting time for real estate, but what exactly is happening in our local Reno/Sparks market?
Our market is experiencing record-low inventory and very high buyer demand. According to the National Association of Realtors, 46% of homes are selling above list price. In February 2022, the Reno/Sparks median sales price was $580,000. In February 2021, it was $465,000. That means the median sales price rose by $115,000 in just 12 months.
If you’re interested in knowing what your home is worth, register on NevadaRealEstateGroup.com to get a home evaluation from Nevada's No. 1 team of licensed Realtors. If you have any other questions, don’t hesitate to reach out to us by phone or email. We look forward to hearing from you.