RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) released its 2016 third quarter and September 2016 report on existing home sales in Washoe County, including median sales price and number of home sales in the region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com) and includes sales of bank-owned (foreclosure) properties.
In the third quarter of 2016, the report showed Washoe County had 1,816 sales of existing single-family homes; with a 4 percent increase from last year and a 1 percent decrease from the previous quarter. The report listed the median sales price for an existing single family residence in Washoe County in the 2016 third quarter at $312,000; an increase of 8 percent from last year and a 2 percent increase from the second quarter of 2016. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The median sales price of existing condominium/townhomes in Washoe County in the third quarter of 2016 was $150,000; with no change from a year ago.
During September 2016, the report showed Washoe County had 626 sales of existing single-family homes; an increase of 6 percent from August 2016 and an increase of 9 percent from September 2015. The report listed the median sales price for an existing single family residence in Washoe County in September 2016 at $310,000; a 9 percent increase from last year with no change from the previous month. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The median sales price of existing condominium/townhomes in Washoe County in September 2016 was $185,000; an increase of 23 percent from last year.
During the 2016 third quarter, Reno (including North Valleys) had 1,238 sales of existing single family homes; an increase of 3 percent from last year and a 1 percent increase from the second quarter of 2016. The median sales price in Reno for an existing single family residence in the 2016 third quarter was $324,950; an increase of 8 percent from last year and a 1 percent increase from the previous quarter. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for the third quarter of 2016 in Reno was $159,900; an increase of 3 percent from last year.
In September 2016, Reno (including North Valleys) had 437 sales of existing single family homes; an increase of 13 percent from last year and a 9 percent increase from August 2016. The median sales price in Reno for an existing single family residence in September 2016 was $319,900; an increase of 8 percent from September 2015 and a 2 percent decrease from the previous month. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for September 2016 in Reno was $185,000; an increase of 19 percent from last year.
Sparks (including Spanish Springs) had 578 sales of existing single family homes in 2016’s third quarter; an increase of 7 percent from last year and a 5 percent decrease from the previous quarter. The Sparks median sales price for an existing single family residence in the third quarter of 2016 was $290,000; an increase of 9 percent from last year and a 3 percent increase from the second quarter of 2016. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for 2016’s third quarter in Sparks was $138,500; an increase of 17 percent from last year.
Sparks (including Spanish Springs) experienced 189 sales of existing single family homes in September 2016; an increase of 2 percent from September 2015 and a 1 percent decrease from the previous month. The Sparks’ median sales price for an existing single family residence in September 2016 was $299,000; a 13 percent increase from last year and an 11 percent increase from the previous month. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for September 2016 in Sparks was $185,000; an increase of 57 percent from last year.
The 2016 third quarter report showed Fernley had 129 sales of existing single family homes; a 1 percent decrease from last year and a 13 percent decrease from 2016’s second quarter. The median sales price in Fernley for an existing single family residence in the 2016 third quarter was $198,000; a 13 percent increase from last year and a 4 percent increase from the previous quarter. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes.
The September 2016 report indicated that Fernley had 43 sales of existing single family homes; an increase of 10 percent from last year and a 12 percent decrease from the previous month. The median sales price in Fernley for an existing single family residence in September 2016 was $199,999; an increase of 18 percent from September 2015 and a 1 percent increase from last month. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes.
“We have seen a slow down in year-over-year median price increases,” said William Process, 2016 RSAR President and a REALTOR® with HomeGate Realty of Nevada. “We see this as a positive sign of some stabilization. At the same time, we are also seeing 2016 September unit sales at its highest in history for the month of September.”
The Reno/Sparks Association of REALTORS® is an organization providing services to its members to ensure their success as real estate professionals, as well as protecting and promoting the consumer’s dream of homeownership. For more information visit www.rsar.net.