January 2023 Real Estate Market Report
Northern Nevada RE Market January 2023
It’s February so the statistics for the first month of 2023 are here.
Reno including all North Valleys:
276 Sales … -26.5% from December 2022
No change from Jan 2022
Median sales price…$600,000. Down -7.9% from December 2023
and up +27% from January 2022
Sparks:
123 Sales…up +15% from last year
Down -19.6% from last month
The median sale price of $520,000. Up +22.4% from last year
and up +1.2% from December 2023
The statistics may seem like were are bouncing around a bit but I think it’s a natural fluctuation. From my own perspective, I have seen a quick increase in Real Estate activity. This is from both Sellers and Buyers. Listings that were seemingly ignored for the last few weeks are now in multiple offer situations. And my Buyers are competing for properties that are navigating several offers at once.
If you’re feeling discouraged by the median prices, do not. Please call me and I can schedule you to meet with a terrific lender. And there are multiple homes for sale under the median prices stated on the graph.
As Andrew Carnegie said, “Ninety percent of all millionaires become so through owning real estate.”
