Hi, I’m Max Sabo, your Reno Nevada Real Estate agent. This is the real estate market update for September, 2023, covering the sales from August, 2023. The market this past month was very similar to the month before. Last month we saw 523 homes sell, while the month before we saw 520 homes sell. The median sales price has been consistent as well, with the median sales price last month at $529,000. The month before it was $531,500. Inventory also remains consistent with 1.9 months worth of inventory, which is about the same as we had last month. I think what’s happening is mortgage rates have gotten very high, over 7%, for your typical 30 year mortgage. There are so many people out there with mortgage rates around 3%. It just doesn’t make sense to buy a new property, because the interest rates will cause the mortgage payment to be so much higher. I’m Max Sabo, your Reno Nevada Real Estate agent. Please give my video a thumbs up if you liked it, and I’ll see you next month.

William Maxwell Sabo Lic# Bs.143873 Haute Properties NV