RENO – The Reno/Sparks Association of REALTORS (RSAR) released its April 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.
During April 2016, the report showed Washoe County had 547 sales of existing single-family homes; a decrease of 4 percent from a year ago in April 2015 and a 5 percent decrease from one month ago in March 2016. The report listed the median sales price for an existing single family residence in Washoe County in April 2016 at $294,500; an increase of 8 percent from April 2015 and no change from March 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 April 2016 was $176,000; a 47 percent increase from a year ago.
In April 2016, Reno (including North Valleys) had 364 sales of existing single family homes; a decrease of 8 percent from last year and a 1 percent decrease from March 2016. The median sales price in Reno for an existing single family residence in April 2016 was $300,000; a 7 percent increase from April 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 April 2016 in Reno was $185,000; a 54 percent increase from last year.
Sparks (including Spanish Springs) experienced 183 sales of existing single family homes in April 2016; a 7 percent increase from April 2015 and a 12 percent decrease from the previous month in March 2016. The Sparks median sales price for an existing single family residence in April 2016 was $285,000; a 12 percent increase from last year in April 2015 and a 2 percent increase from March 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 April 2016 in Sparks was $122,550; a 1 percent increase from last year.
The April 2016 report indicated that Fernley had 43 sales of existing single family homes; a 23 percent decrease from April 2015 and a 9 percent decrease from the previous month in March 2016. The median sales price in Fernley for an existing single family residence in April 2016 was $195,000; a 15 percent increase from April 2015 and a 13 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.
“Demand continues to exceed supply in the market,” said William Process, 2016 RSAR president and a REALTOR with HomeGate Realty of Nevada. “When this happens, homes sell quickly and prices rise. A REALTOR helps navigate homebuyers through the process and will negotiate on behalf of their clients. Working with a REALTOR is the ultimate advantage.”
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.