Get To The Point with John Graham, Immediate Past President of the Reno-Sparks Association of REALTORS as he shares insights on the real estate performance and trends in Northern Nevada. In this month’s report, we examine the new info-graphic tool available in Market Insights. We also look at the effect the slowing real estate market is having on the overall economy. To the Point is Sponsored by the Reno/Sparks Association of REALTORS. Don’t miss an episode. subscribe to our channel. This data is accurate to the best knowledge of RSAR based on data reported to the NNRMLS as of September 30, 2018. Charts and graphs created by North Leaf Solutions under license of RSAR Produced by Carls Videomations.
Get To The Point with Doug McIntyre, President of the Reno-Sparks Association of REALTORS as he shares insights on the real estate performance and trends in Northern Nevada. In this month’s report, we look at how increasing inventory will affect the market. We also go on location with Angelica Reyes and Oscar Delgado and learn that is new and exciting in the Reno area.
“The Washoe County median price is at $389,000, which is up 10 percent compared to July 2017,” said Doug McIntyre, 2018 RSAR President. “This is a record high median price for the Reno/Sparks market. When you factor in pricing with the seasonal trend, I would anticipate that unit sales numbers may not reach 2017 levels.” Click here for “To The Point”.
Just about everyone’s heard of the hordes of harried home buyers competing for a limited number of homes on the market. But in spite of the bidding wars that knock out so many would-be buyers, the home ownership rate is once again ticking up.
The annual home ownership rate hit about 63.9% in 2017—up from about 63.4% a year earlier, according to a recent U.S. Census Bureau report. The last time it went up was from 2003 to 2004. (Realtor.com)
(Realtor.com® averaged the Census’ quarterly rates to come up with the annual numbers.)
Please click here to view the full report from Realtor.com.
RE/MAX Agent Debra Engel Earns
Hall Of Fame Award
RE/MAX Honors Local Real Estate Agent for Excellent Business Performance
Reno, NV – Debra Engel, with RE/MAX Premier Properties, has received the RE/MAX Hall of Fame Award, which honors successful agents who have earned more than $1 million in commissions during their careers with the company. Less than twenty-three percent of all active RE/MAX agents have earned this prestigious award since its inception.
“Debra’s tireless dedication to serving her clients, consumers and community has allowed her to achieve this high honor,” said Garrett Matthews, Vice President of the RE/MAX southwest Region. “Winning this award is a significant accomplishment and we’re extremely proud that Debra is a member of the RE/MAX Network and continues to raise the bar in real estate.”
Engel has been serving her community as a RE/MAX agent for more than 14 years and has extensive experience in residential real estate sales. Among Engel’s list of achievements, she has earned 100% Club honors from RE/MAX. In addition, Engel actively supports Children’s Miracle Network and VAREP.
Please click here to view the December 2017 Market Update from the Reno Sparks Association of Realtors.
December 2017 Market Report
Area 100, Greater Reno/Sparks
“The Reno/Sparks market saw a decline in sales in November,” said Doug McIntyre,
2018 President of the Reno/Sparks Association of REALTORS. “However, year-to-date sales
are at a record high of 6,809. That’s a 3% increase over 2016.”
• The December median price at $345,000 is down 2% from November and up 15% from a
• December unit sales at 482 are down 9% from November and down 9% compared to
• December new listings are down 24% at 292 compared to November and down
14% from one year ago.
• The Reno market is a seller’s market, at 1.3 months supply of inventory. Months supply
of inventory is the time it would take to exhaust the active inventory at the current rate of
• Unit sales were strong in 2017 ending the year at 6,809 up 3% from the previous year.
• In 2017, pending sales kept pace with new listings as compared to prior years. It’s
understandable why we have only 1.3 months supply of inventory.
• The median sales price started 2017 at $302,000. By July it reached a high of $355,000.
Since that time the median price leveled and ended the year at $345,000. We anticipate
this leveling trend to continue through the winter months. During the selling season,
April through July, we expect continued pressure on inventory which will drive the
median price higher in 2018.
• New listings in 2017 were down 11% after reaching a five-year record high in 2016.
• December 2017 available active inventory were at a low of 637 available listings.
• The average days to contract were 57 in December down less than 1% compared to
• Properties are remaining on the market an average of 94 days down 13% from
• Sellers are receiving an average of 98.6% of list price up less than 1% from
Click Here to view the October 2017 “To The Point” Market Update with our very own John Graham, President RSAR!
Please CLICK HERE to view the September 2017 market update with John Graham, RSAR President.
Please click here to view the Reno/Sparks 2017 Market Update!
Click here to watch RSAR President John Graham give the July 2017 market update.