Mon Jul 06 2020
This week the median list price for Reno, NV is $659,997 with the market action index hovering around 47. This is an increase over last month's market action index of 44. Inventory has held steady at or around 488.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$659,997|
|Per Square Foot||$256|
|Days on Market||94|
|Strong Seller's Market|
Prices have moved upward in the last few weeks and are nearing the market’s all time high. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,399,000||4,514||0.5 - 1 acre||4||4||17||14||15||174|
|$822,500||3,069||0.25 - 0.5 acre||4||3||18||14||15||90|
|$562,470||2,380||8,000 - 10,000 sqft||4||2||18||27||31||62|
|$384,900||1,666||4,500 - 6,500 sqft||3||2||20||34||48||50|