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