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.”