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Dear <<First Name>>,
Today, we remember and honor the nearly 3,000 people who were killed in the terrorist attacks in our country 19 years ago on September 11. Those who were lost will never be forgotten.
We hope you appreciate this Market Update and will contact us with any questions you have.
 
Be sure to click on the "MARKET MONITOR" below to see current market statistics for Reno. For more specific information unique to your home address, click on "REAL TIME Personalized Market Snapshot" below.
Reno-Sparks Market Insights: 
We are still solidly in a Seller's Market -- for all price ranges. That should be no surprise, as our Active Inventory is down over 25% compared to last month and down nearly 64% compared to last year. Also notable, our median price for Single Family Residences in Reno-Sparks is at an all-time high: $444,900. Reno's median price is $469,000. Sparks median price is $415,000. Also interesting - the number of closed sales in August was up slightly compared to last year. We have a busy buyer's market! ... If you are thinking of selling, NOW is the time!
 
Pam Reese, REALTOR®
CRS, GRI, SFR, SRES, #S.0044703.
775.843.1508
Devin Reese, REALTOR®
CRS
#S.0174181
775.527.6273
Pam@ReeseRealtyTeam.com
Devin@ReeseRealtyTeam.com
RENO - SPARKS MARKET DATA:
Median Sold Price
The August median sales price for single family homes was $444,900, up 2.4% from July and up 11.5% from a year ago.  (These figures include Reno/Sparks and surrounding Washoe County, excluding Incline Village.) Average sold price per square foot was $239, about even with July and up .7% compared to the previous year. 

Number of New Listings
The number of new listings was down .9% in August to 666 compared to July and down 12.4% compared to one year ago. 

Active Inventory
Inventory for August 2020 (at 545) was down 25.7% compared to July and down 63.9% compared to one year ago. 

Number of Closed Sales
The number of unit sales for August 2020 (at 644) was down 13.4% from July and up 3.2% compared to the previous year.

Month's Supply of Inventory*
Overall, month’s supply of inventory for Single Family Homes (at .8) is extremely low and remains a Seller’s Market. Properties priced below $500,000 are .5 MSI. Properties priced $500,00 to $750,000 are at 1.1 MSI. Properties priced above $750,000 are in a at 2.4 MSI -- all solidly a Seller's MarketCondos/Town Homes are also a Seller’s Market at 1.2 MSI*.

*Month’s Supply of Inventory is the time it would take to exhaust the active and pending inventory at the current rate of sales. The National Association of Realtors describes a balanced market as between 5 and 7 month’s supply of inventory (MSI). 

Days to Contract:
Average days on market for Single Family Residences in August 2020 was 37, down from 37 one year ago. Average days on market for Condos/Town Homes at 57, is up from 42 one year ago.

Selling Price
Sellers received an average of 99.5% of list price for Single Family Residences in August 2020, up slightly compared to one year ago. Sellers received an average of 98.5% of list price for Condos/Town Homes in August 2020, about even with one year ago.
Statistics shown below are for Reno-Sparks as of 9/11/2020.
To see today's statistics, click the "Market Monitor."
NOTE: You can also select Reno, Sparks and/or Fernley from the drop-down menu.
Market Monitor
Information provided by the Reno Sparks Association of Realtors & Northern Nevada Regional MLS.
Click here for a "Real Time Market Snapshot of your home value:
REAL TIME Personalized Market Snapshot
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