February 2023 Real Estate Market Report
I hope you have all secured any St. Paddy’s Day decorations because it’s a very blustery day out there. Just a continuation of the wild weather we’ve been experiencing this long winter.
Here are the statistics for Real Estate sales for the month of February 2023
Reno and North Valleys
The median sales price for Reno including all the north valleys was $521,500
February saw 184 closings down -30% from the previous month and up 12.2% from last year at this time
The average days on market (days after listing a house goes into contract) was 40 and Sellers received 97.4% of the list price. This tells us some Sellers are overpricing their houses and you should present an offer even if you cannot meet the list price.
Sparks
The median sales price for Sparks homes was $502,000. Sparks is well known for getting Buyers more house for your money than Reno generally.
February saw 90 closed sales; down -21.1% from last month and up 25% from last year at this time
The average days on market was 25 and Sellers received 98% of their asking price.
February Market Graphic for the Greater Reno-Sparks-Carson area.
We currently have an active inventory of 1012 listings and expect more to come on the market as the weather mellows.
In other news…
We will be hosting another First Time Buyers meeting soon. In a few days, we will be closing on a home with Buyers who attended the last meeting! So excited for them. They attended the meeting and followed through and now they are done paying rent. From now on, they will be adding equity to their own home and not their landlord’s.
Please join us for the next one and we can get started on doing the same for you. Invest in your future; not someone else’s.
