Reno real estate has taken flight in the last 30 days as conditions both seasonal and economic have aligned. The number of residential transactions completed has exploded improving 13% over the same period a year ago and riding a seasonal wave improving by 22% over the prior month.
This velocity is balanced by an influx of new listings, typical for this time of year, improving the number of options for consumers 11% over the previous month. The average sale is finding a buyer within 37 days of coming to market, velocity increased month over month but a bit behind 2018. Transactions are generally closing within 1% of asking price.
These factors have combined to drive median price up 4%; ultimately a comfortable and sustainable figure, heading into summer.
Elsewhere around town:
Businesses are seeing opportunity in a previously blighted area of town.
Meanwhile, the Midtown Mile continues its renaissance.
New Opportunity Zone Guidelines create greater opportunity for such renewal.
Portability, literally, has a long history in Reno real estate.