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February 2017 Market Report Greater Reno/Sparks Nevada

According to John Graham, 2017 RSAR President, “The Reno market remains in a seller’s market state, with just four months supply of inventory“ pricing continues to increase and more increases in interest rates are projected in the upcoming days. Alternatives could be either in the rental sector or purchasing in surrounding communities:.

 As of February 2017, new listings are up 28% at 488 compared to January and down 16% from one year ago. We are seeing the Reno market real estate market remain in a seller’s market, with an inventory supply of 4 months supply.  of inventory is the time it would take to exhaust the active and pending inventory at the current rate of sales. Conclusions ? Median sales price are at new high of $320,000 since the beginning of January 2012. 

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