Reno-Sparks Real Estate Market | Statistics Through May 31, 2020

Throughout the day, I will be publishing market statistics showing Reno-Sparks market data through the end of May. The first data visualization shows how the pace of homes going into escrow has been accelerating significantly, such that as of the end of May, the number of homes under contract has caught up with the number of homes actively on the market (this graph includes condos and manufactured homes).

data from multiple listing service, pulled morning of june 2, 2020. MLS AREA 100.

The next graph reveals that the average sales price per month was lower in the month of May than April. This is not a surprise. There is generally a 30 to 45 day lag between sales prices and when the terms of the purchase were agreed upon by the parties (and much longer for new construction sales). Thus, the sales prices for May actually generally reflect sales conditions as they were in late March and April, when Covid-19 impacts were at their worst. These statistics include only single family residences in the Reno-Sparks area (condos and manufactured homes were excluded). May’s sales numbers will likely have some adjustment as some slacker Realtors untimely report their sales later than they should.

data from multiple listing service, pulled morning of june 2, 2020. MLS AREA 100.