At Look Back at the Reno/Sparks Housing Market in February 2024
As we welcome the month of March, let's take a look back at the housing market in the Reno-Sparks region last month. In my latest podcast, my co-host Brian Cushing and I delve into the intricacies of the Reno/Sparks housing market as of February 2024. As someone deeply immersed in real estate, I understand the hurdles buyers face in such a competitive environment. Thus, I'm thrilled to share valuable insights and tips to help you navigate this tight market effectively. In the podcast, as we dissect key statistics, including median home prices, closed sales, price per square foot, new listings, and inventory levels. Staying informed about these metrics is crucial for making well-informed decisions in today's dynamic market. I have included the link to watch the podcast below in this blog post.
Here are some highlights from our discussion:
- Median home prices have surged to $535, marking a 5% increase from the previous year.
- Closed sales in January saw a slight dip, totaling 245, down 11% from December.
- Rising interest rates have raised concerns about affordability for many prospective buyers.
- Prices per square foot have decreased to $292, down 3.5% from last year.
- New listings have shown a significant uptick, increasing by 20% compared to the previous January and a staggering 56% from December.
But fear not! In the face of these challenges, we're here to equip you with strategies to succeed:
- Build a strong team and leverage their expertise.
- Understand the intricacies of the real estate contract.
- Consider submitting backup offers to increase your chances of success.
- Explore expired or withdrawn listings for hidden opportunities.
By acting decisively and strategically, you can position yourself ahead of the competition and secure your dream home before the spring rush hits. Don't miss out on this valuable opportunity to make a smart investment in the Reno/Sparks housing market. Tune in now to learn more about how you can thrive in this challenging but rewarding real estate landscape!
Click below to watch the podcast ➡️
About Our Team
The Angst Real Estate Team is the top real estate authority in Northern Nevada and is always available to answer your real estate questions. Send us an email or call/text at (775) 525-0309 for a free, no-obligation consultation. Like and subscribe to our YouTube Channel. The Angst Real Estate Team is the top real estate authority in Northern Nevada. Our channel is the place to go when you're looking for information about our dynamic and diverse Reno/Sparks Real Estate Market. We frequent video podcasts about important topics that matter to our Reno/Sparks Real Estate Tribe. Let's embark on this real estate journey together!
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