RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its November 2017 report on existing home sales in Washoe County, including median sales price and a number of home sales in the region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).
During November 2017, the report showed Washoe County had 519 sales of existing single-family homes; a decrease of 3 percent from November 2016 and a 6 percent decrease from one month ago, October 2017. The report listed the median sales price for an existing single-family residence in Washoe County in November 2017 at $355,000; an increase of 15 percent from November 2016 and a 3 percent increase from October 2017. 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 November 2017 was $187,000; a 38 percent increase from a year ago.
In November 2017, Reno (including North Valleys) had 364 sales of existing single-family homes; an increase of 7 percent from last year and a 7 percent decrease from the previous month. The median sales price in Reno for an existing single-family residence in November 2017 was $365,000; a 13 percent increase from November 2016, and a 1 percent increase from October 2017. 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 November 2017 in Reno was $219,000; a 62 percent increase from last year.
Sparks (including Spanish Springs) experienced 155 sales of existing single-family homes in November 2017; a 21 percent decrease from November 2016 and a 4 percent decrease from the previous month in October 2017. The Sparks median sales price for an existing single-family residence in November 2017 was $335,000; a 19 percent increase from last year in November 2016 and a 5 percent increase from October 2017. 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 November 2017 in Sparks was $154,500; a 3 percent increase from last year.
The November 2017 report indicated that Fernley had 38 sales of existing single-family homes; with a decrease of 10 percent from November 2016 and a 12 percent increase from the previous month in October 2017. The median sales price in Fernley for an existing single-family residence in November 2017 was $248,743; a 19 percent increase from November 2016, and a 3 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.
“Sales were down in November said John Graham, 2017 RSAR President and REALTOR® with Re/Max Premier Properties. “However, year-to-date sales are at a record high of 6,313. That’s a 4 percent increase over the same period in 2016. Also, with the low inventory levels and little new construction in the affordable range, prospective first-time buyers are faced with the decision to continue to rent, look at older homes that may need some updating or look outside the immediate area.”
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.
