Today, I’ll be going over everything you can expect from Northern Nevada’s real estate market from August to October.
At the end of the summer, we always receive some common questions. Sellers want to know if they missed the boat, while buyers are hoping for new opportunities. Today, I’ll be going over some stats from Domis Analytics to show where our market is headed.
The reason why we always are asked these questions towards the end of summer is seasonal. August and September are what I like to call our “shoulder season”. Typically, there are fewer buyers in August and September, so we often see sensational headlines promoting “a huge percent of listings are reducing their asking price”.
To prove this, let’s look at the data from the last four years. At 1:20 in the video, I have data pulled up that proves August and September are our shoulder months. More sellers continually enter the market in these months while the number of buyers decreases. 2020 was an anomaly, but it appears things are returning to the old seasonal pattern.
In the coming months, I expect inventory to increase as more sellers enter the market. This means buyers may have a little more to choose from, but it is not the end of our hot market or a bubble bursting. We’re just observing a normal seasonal trend.
If you have any questions about today’s video or any other topic, please reach out to me. I am always here to help!