RENO – The Reno/Sparks Association of REALTORS (RSAR) released its 2018 third quarter and September 2018 reports 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).
In the third quarter of 2018, the report showed Washoe County had 1,569 sales of existing single-family homes; with a 20 percent decrease from last year and a 6 percent decrease from the previous quarter. The report listed the median sales price for an existing single family residence in Washoe County in the 2018 third quarter at $380,000; an increase of 9 percent from last year and an increase of 1 percent from the second quarter of 2018. 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 third quarter of 2018 was $212,000; an increase of 15 percent from a year ago.
During September 2018, the report showed Washoe County had 439 sales of existing single-family homes; a decrease of 22 percent from August 2018 and a decrease of 28 percent from September 2017. The report listed the median sales price for an existing single family residence in Washoe County in September 2018 at $374,000; an 11 percent increase from last year 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 median sales price of existing condominium/townhomes in Washoe County in September 2018 was $211,750; an increase of 24 percent from last year.
During the 2018 third quarter, Reno (including North Valleys) had 1,074 sales of existing single family homes; a decrease of 23 percent from last year and a 9 percent decrease from the second quarter of 2018. The median sales price in Reno for an existing single family residence in the third quarter of 2018 was $398,500; an increase of 11 percent from last year and less than a 1 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 third quarter of 2018 in Reno was $229,000; an increase of 17 percent from last year.
In September 2018, Reno (including North Valleys) had 303 sales of existing single family homes; a decrease of 31 percent from last year and a 22 percent decrease from August 2018. The median sales price in Reno for an existing single family residence in September 2018 was $391,000; an increase of 13 percent from September 2017 and a 1 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 September 2018 in Reno was $235,000; an increase of 34 percent from last year.
Sparks (including Spanish Springs) had 495 sales of existing single family homes in 2018’s third quarter; a decrease of 15 percent from last year and a 2 percent increase from the previous quarter. The Sparks median sales price for an existing single family residence in the third quarter of 2018 was $355,000; an increase of 11 percent from last year and a 1 percent decrease from the second quarter of 2018. 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 2018’s third quarter in Sparks was $201,000; an increase of 24 percent from last year.
Sparks (including Spanish Springs) had 136 sales of existing single family homes in September 2018; a decrease of 22 percent from last year and a 22 percent decrease from the previous month. The Sparks median sales price for an existing single family residence in September 2018 was $345,000; an increase of 10 percent from last year 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 September 2018 in Sparks was $199,000; an increase of 22 percent from last year.
The 2018 third quarter report showed Fernley had 170 sales of existing single family homes; with a 5 percent increase from the same time last year and a 2 percent decrease from 2018’s second quarter. The median sales price in Fernley for an existing single family residence in 2018’s third quarter was $251,000; a 10 percent increase from last year and less than a 1 percent decrease 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 September 2018 report indicated that Fernley had 60 sales of existing single family homes; an 11 percent increase from last year and a 5 percent increase from the previous month. The median sales price in Fernley for an existing single family residence in September 2018 was $241,750; an increase of 9 percent from September 2017 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.
“September 2018’s active inventory level is up to 1,377 single family units, up from a low of 648 in January 2018,” said Doug McIntyre, 2018 RSAR president and REALTOR with Reno Property Management. “Increasing inventory is a good sign of a healthy market and should take the pressure off pricing.”
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.