RENO – The Reno/Sparks Association of REALTORS (RSAR) released its February 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 February 2016, the report showed Washoe County had 351 sales of existing single-family homes; a decrease of 12 percent from a year ago in February 2015 and a 10 percent decrease from one month ago in January 2016. The report listed the median sales price for an existing single family residence in Washoe County in February 2016 at $290,000; an increase of 9 percent from February 2015 and a 4 percent increase from January 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 February 2016 was $139,500; a 30 percent increase from a year ago.
In February 2016, Reno (including North Valleys) had 220 sales of existing single family homes; a decrease of 15 percent from last year and a 11 percent decrease from January 2016. The median sales price in Reno for an existing single family residence in February 2016 was $305,000; a 10 percent increase from February 2015, and a 3 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 February 2016 in Reno was $164,000; a 26 percent increase from last year.
Sparks (including Spanish Springs) experienced 131 sales of existing single family homes in February 2016; a 4 percent decrease from February 2015 and an 8 percent decrease from the previous month in January 2016. The Sparks median sales price for an existing single family residence in February 2016 was $270,000; a 7 percent increase from last year in February 2015 and a 4 percent increase from January 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 February 2016 in Sparks was $125,550; a 37 percent increase from last year.
The February 2016 report indicated that Fernley had 30 sales of existing single family homes; level from last year in February 2015 and a 9 percent decrease from the previous month in January 2016. The median sales price in Fernley for an existing single family residence in February 2016 was $165,200; a 2 percent increase from February 2015 and a 4 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.
“Overall, the market is showing signs of stability, however, affordability is top-of-mind for the median household income,” said William Process, 2016 RSAR president and a REALTOR with HomeGate Realty of Nevada. “Homeowners looking to sell and move to a new place are in a great position. In price points under $400,000, it’s a seller’s market.”
About the Reno/Sparks Association of REALTORS
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.