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May Market Report 2024

Wednesday, May 15, 2024   /   by Beau Paulsen

May Market Report 2024

Monthly Real Estate Market Update for Reno, Sparks, and Carson City

Hey everyone! Welcome back to your monthly real estate market update for Reno, Sparks, and Carson City. As always, let's take a look at how this month compares to the same time last year.

Median Sales Price: This month, the median sales price is $554,000, which reflects a 3.6% increase from last year. This upward trend indicates a healthy market growth.

Closed Sales: We've witnessed a total of 424 closed sales this month, showing a modest 1.7% increase compared to the previous year. It's a promising sign of continued activity in the housing market.

Active Homes on the Market: Currently, there are 654 active homes for sale, marking a 13% decrease from last year. This decline suggests heightened competition among buyers for available properties.

Days to Contract: The average number of days to contract has risen to 12, indicating a 9.1% increase from the previous year. Homes are taking slightly longer to sell, which could be attributed to various factors affecting the market dynamics.

Price per Square Foot: The price per square foot has surged to $308, representing a notable 4% increase. This uptick underscores the value appreciation in the region's real estate market.

In summary, these statistics provide a snapshot of our current market compared to last year. Despite some fluctuations, the overall outlook remains positive, showcasing steady growth and activity.

Remember, if you have any questions or need assistance with your real estate endeavors, don't hesitate to reach out. I'm here to help you navigate the ever-changing landscape of the housing market. Stay tuned for more updates, and 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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