While the market is slowly recovering we’ve seen big increases and big drops. When it comes to the Reno/Sparks Market, According to renotahoerealestatenews.com, “Although the median sales price for single family homes remained the same for both June and July at $250,000, that amount is 5% higher than the median sales price in May. A steady increase in prices and low inventory levels indicates the market is in a great position, especially if you are selling a home.” Currently the median price of a home in Reno, NV is $299,000 which is a 19.6% increase since last year* and a 1.4% increase since last month**.
Northern California has seen some big increases and according to The Fiscal Times, Sacramento, CA is 9th among the top 10 fastest moving housing markets nationally with a 45% share of homes still for sale after being listed for at least two months as of mid-April, San Jose is currently 2nd with 31%. Currently the median price of a home in Sacramento, CA is $345,000, which is a 19.0% increase since last year* and a -1.2% decrease since last month**.
Overall we are seeing an increase in home values which is an early indicator of a healthy market. Whether you are thinking about buying or selling now might be a good time to take action. Remember to consult with your trusted REALTOR® before making any real estate decisions.