Northern California / Nevada Market Recap

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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**.

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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.

 

*According to Realtor.com (http://www.realtor.com/data-portal/realestatestatistics?iid=rdc_hdrmenu_learn as of July/14 to July/13)
** According to Realtor.com (http://www.realtor.com/data-portal/realestatestatistics?iid=rdc_hdrmenu_learn as of Jul/14 to June/14)
Sources:
Realtor.com
http://www.realtor.com/data-portal/realestatestatistics?iid=rdc_hdrmenu_learn
Renotahoerealestatenews.com
http://www.renotahoerealestatenews.com/2014/08/17/comparing-july-to-june-2014-a-decrease-in-sales/#sthash.7fAqHIMX.dpuf
The Fiscal Times
http://www.thefiscaltimes.com/Articles/2014/04/23/Top-10-Fastest-Selling-Housing-Markets-Spring

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