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December 2023 Market Update

Wednesday, December 6, 2023   /   by Beau Paulsen

December 2023 Market Update

Hello everyone, I’m Beau Paulsen with the Reade Real Estate Group at RE/MAX Gold and It's time for your real estate market update of Reno, Sparks, and Carson City.


Median Sales Price: $551,000

The median sales price in our region currently stands at $551,000, reflecting a 4% decrease from last month.


Days to Contract: 35 days (Up 20% from last month)

Homes are spending a bit more time on the market, with the days to contract increasing by 20% from the previous month, now at 35 days compared to the previous 29.


Active Inventory: 805 homes (Down 16% from last month)

Looking at available options, our active inventory has tightened, with a 16% decrease from last month, currently standing at 805 homes compared to the previous 961.


Median Price per Square Foot: $303 (Down 3% from last month)

The median price per square foot is now $303, experiencing a 3% dip from last month, previously at $311.


Conclusion

Despite these shifts, the real estate market in our area remains dynamic and full of opportunities. If you have questions or are ready to make a move, reach out to me, Let's navigate the exciting real estate landscape together. Until next time, happy house hunting!

 
The Reade Group | RE/MAX Gold - Midtown
Meka Reade
1401 South Virginia St, Suite 100
Reno, NV 89502
775-813-7271

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of the Northern Nevada Regional MLS and is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by Brokerage firms other than Meka Reade - Re/Max Gold are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokerage. Data is deemed reliable but not guaranteed. Copyright 2024 of Northern Nevada Regional MLS. All rights reserved.
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