RENO – The Reno/Sparks Association of REALTORS (RSAR) released its July 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).
During July 2016, the report showed Washoe County had 566 sales of existing single-family homes; a decrease of 13 percent from a year ago in July 2015 and a 14 percent decrease from one month ago in June 2016. The report listed the median sales price for an existing single family residence in Washoe County in July 2016 at $316,850; an increase of 9 percent from July 2015 and a 2 percent increase from June 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 July 2016 was $142,450; a 13 percent decrease from a year ago.
In July 2016, Reno (including North Valleys) had 376 sales of existing single family homes; a decrease of 20 percent from last year and a 15 percent decrease from June 2016. The median sales price in Reno for an existing single family residence in July 2016 was $329,750; a 9 percent increase from July 2015, and 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 existing condominium/townhome median sales price for July 2016 in Reno was $155,000; a 9 percent decrease from last year.
Sparks (including Spanish Springs) experienced 190 sales of existing single family homes in July 2016; a 6 percent increase from July 2015 and an 12 percent decrease from the previous month in June 2016. The Sparks median sales price for an existing single family residence in July 2016 was $299,000; a 14 percent increase from last year in July 2015 and an 8 percent increase from June 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 July 2016 in Sparks was $135,000; a 12 percent increase from last year.
The July 2016 report indicated that Fernley had 35 sales of existing single family homes; a 39 percent decrease from July 2015 and a 38 percent decrease from the previous month in June 2016. The median sales price in Fernley for an existing single family residence in July 2016 was $185,000; with no change from July 2015 and a 9 percent decrease 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.
“Sales have grown this year because inventory has moved quickly,” said William Process, 2016 RSAR president and a REALTOR® with HomeGate Realty of Nevada. “However, without substantial growth in existing and new home inventory, sales growth may flatten over time.”
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.realtor