The Reno/Sparks home market is ridiculous, and everyone knows it. If you’re a seller, your house is sold over the weekend. If you’re a buyer, in some cases you have to endure your agents writing 20 or more offers before yours finally gets accepted.
Now we’re getting to a place where inventory has gotten so tight, would-be sellers who’d love to sell can’t because they don’t know where they’d move to. So what’s going on? Let’s look at the numbers:
- January Median at $360,000 is up 4% from December 2017, up 19% from a year ago
- January Unit sales at 400 are down 19% from December 2017, up 19% from a year ago
- January new listings up 51% at 470 compared to December, up 20% from one year ago
- The January median sales price at $360,000 started…