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August 2023 Real Estate Market Update

Wednesday, August 2, 2023   /   by Beau Paulsen

August 2023 Real Estate Market Update

Hello there!

As the summer sun continues to shine, and the lake vibes keep us grooving, it's time for a summer-themed real estate market update!

- Median Sales Price: Surging to New Heights!
Hold onto your flip-flops because the median sales price is soaring like a beachside seagull!  At a jaw-dropping $572,500, it's up near 3% from last month. While we're still sizzling, it's a minor 1% dip from last year - but hey, we're still riding the summer waves with style! 

- Active Homes on the Market: A Beach Bonanza!
Want more options than ice cream flavors on a sunny day? You're in luck! With 806 active homes on the market, there's plenty of treasure to discover! That's a 2% growth from last month, giving all of you awesome buyers more chances to find that dreamy escape!

- Price per Square Foot: Riding the Tide of Increase!
Ready for a wild ride? The price per square foot has jumped 4% from last month to $306! It's like a roller coaster of demand and excitement! So, whether you're selling or buying, the market's making big waves! 

- Homes Sold: The Real Estate Luau is Lively!
We're not just catching rays; we're catching homes too! A whopping 492 homes were sold in the past month, a 7% surge from last month! The real estate market is doing the hula and dancing with delight! 

- Interest Rates: Sunny with Strong Demand!
Even though interest rates are hanging out around or above 7%, the real estate market is still feeling the summer love! Buyers are flocking like seagulls, undeterred by borrowing costs, showing confidence in this coastal paradise! 

So, while you're savoring summer's sweet moments, don't miss out on the real estate excitement! If you have any questions or need a little sunscreen of guidance, I'm here for you! Just drop me a message or give me a call - I'll make your real estate dreams shine as bright as the summer sun! 

Stay tuned for more fun in the sun with the next update!

Sandy toes and happy vibes,
Beau Paulsen
RE/MAX Gold - Midtown
The Reade Group | RE/MAX Gold - Midtown
Meka Reade
1401 South Virginia St, Suite 100
Reno, NV 89502

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