Reno Real Estate Market Report

December Reno Real Estate Market Report  has been release by Reno/Sparks Association of REALTORS®.  Click the Linked below to see all December 2014 charts and real estate updates.

December Reno 2014 median price was up 0.8% to $262,000 compared to $260,000 in November 2014 and up 12.9% compared to $232,000 in December 2013.

Reno/Sparks Association of REALTORS® December Market Report 2014

My Summary:

– New listing inventory dipped to a seasonal low of 281. This is putting pressure on prices.
– December unit sales were up 7% from November. Annual sales for 2014 were down 2% or 134 units
compared to 2013 annual sales. The market has normalized.
– The December sale to listing price ratio was as 98.3% and has remained between 98% and 98.5%
– The market remains in a seller’s market at 2.7 month’s supply of inventory, the lowest in history. T
– Supply of Inventory is at a historical low. With all the job growth projected, there is a need to build new housing in Reno and vicinity!  First Realty Karen Conrad, Broker