Following national trends, real estate throughout the Reno area continues to be historically robust while slightly lagging the performance of recent years. The past 30 days saw 563 transactions, trending just 1.6% below the same period last year. Median price slumped 2% from last month’s record $400,000 while still posting a 7% gain year-over-year.
Fewer listings have come to market over the past 30 days bringing inventory down to just 2.5 months’ supply. This is a 6% reduction in inventory from last month and nearly 2% year-over-year. The preceding data creates a picture of a healthy, if normalizing, real estate market in region that continues to grow population, jobs and wealth at a rate among the highest in the nation.
Meanwhile around town:
Ideas to lure more small businesses to town
Burner Boom: Reno’s identity becoming undeniably tied to Burning Man
Nearly half a million square feet of distribution center now open
Tahoe-Reno Industrial Center Part II – coming soon
Finally, recognition as an emerging coffee culture
Looking everywhere for housing opportunities