RENO – The Reno/Sparks Association of REALTORS (RSAR) released its 2016 first quarter and March 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 first quarter of 2016, the report showed Washoe County had 1,313 sales of existing single-family homes; with no change from last year and a 10 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 first quarter at $290,000; an increase of 9 percent from last year and a 1 percent increase from the fourth quarter of 2015. 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 first quarter of 2016 was $158,500; an increase of 52 percent from a year ago.
During March 2016, the report showed Washoe County had 559 sales of existing single-family homes; an increase of 53 percent from February 2016 and an increase of 2 percent from March 2015. The report listed the median sales price for an existing single family residence in Washoe County in March 2016 at $296,000; an 8 percent increase from last year and a 2 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 median sales price of existing condominium/townhomes in Washoe County in March 2016 was $144,500; an increase of 32 percent from last year.
During the 2016 first quarter, Reno (including North Valleys) had 833 sales of existing single family homes; a decrease of 2 percent from last year and a 15 percent decrease from the fourth quarter of 2015. The median sales price in Reno for an existing single family residence in the 2016 first quarter was $305,000; an increase of 9 percent from last year and a 2 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 first quarter of 2016 in Reno was $168,000; an increase of 48 percent from last year.
In March 2016, Reno (including North Valleys) had 360 sales of existing single family homes; an increase of 4 percent from last year and a 58 percent increase from February 2016. The median sales price in Reno for an existing single family residence in March 2016 was $306,375; an increase of 7 percent from March 2015 and a 1 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 March 2016 in Reno was $157,500; an increase of 17 percent from last year.
Sparks (including Spanish Springs) had 480 sales of existing single family homes in 2016’s first quarter; an increase of 5 percent from last year and an 1 percent decrease from the previous quarter. The Sparks median sales price for an existing single family residence in the first quarter of 2016 was $275,000; an increase of 10 percent from last year and a 5 percent increase from the fourth quarter of 2015. 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 first quarter in Sparks was $118,000; an increase of 26 percent from last year.
Sparks (including Spanish Springs) experienced 199 sales of existing single family homes in March 2016; a decrease of 3 percent from March 2015 and a 44 percent increase from the previous month. The Sparks’ median sales price for an existing single family residence in March 2016 was $280,000; a 12 percent increase from last year and a 4 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 March 2016 in Sparks was $123,000; an increase of 31 percent from last year.
The 2016 first quarter report showed Fernley had 109 sales of existing single family homes; a decrease of 6 percent from last year and a 13 percent decrease from 2015’s fourth quarter. The median sales price in Fernley for an existing single family residence in the 2016 first quarter was $170,000; an 11 percent increase from last year and no change 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 March 2016 report indicated that Fernley had 44 sales of existing single family homes; a decrease of 19 percent from last year and a 38 percent increase from the previous month. The median sales price in Fernley for an existing single family residence in March 2016 was $173,750; an increase of 16 percent from March 2015 and a 5 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 continued year-over-year price gains for the past four years, but percentage gains year-over-year have lessened as pricing appears to be stabilizing,” said William Process, 2016 RSAR president and a REALTOR® with HomeGate Realty of Nevada. “In today’s seller’s market, we continue to watch affordability issues as rising home prices are hampering buyers. On the other end of the spectrum, sellers continue to build equity.”
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.