Reno Sparks Real Estate - Buyer Market or Seller Market?
I just pulled a summary analysis from Multiple Listing Service data to help illustrate the market conditions (i.e. is there pressure on prices - up or down) by price range.
Often times when we are representing a home buyer, they initially believe that they will be able to drive a ridiculously hard bargain (emphasis on ridiculous) when negotiating price. This is sometimes true, but in today's market your odds of realizing this dream are much more likely in the higher price ranges only.
The table below shows the Months of Inventory for the Reno/Sparks area broken down by price range.
|Months of Inventory||< $150K||$150-250K||$250-350K||$350-500K||$500K-700K||$700K+|