RENO – The Reno/Sparks Association of REALTORS (RSAR) released its October 2018 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 October 2018, the report showed Washoe County had 459 sales of existing single-family homes; a decrease of 17 percent from October 2017 and a 1 percent increase from one month ago, September 2018. The report listed the median sales price for an existing single family residence in Washoe County in October 2018 at $380,000; with an increase of 2 percent from September 2018 and an increase of 10 percent 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 October 2018 was $200,000; a 19 percent increase from a year ago.
In October 2018, Reno (including North Valleys) had 320 sales of existing single family homes; a decrease of 21 percent from last year and a 2 percent increase from the previous month. The median sales price in Reno for an existing single family residence in October 2018 was $402,675; a 12 percent increase from October 2017, and a 3 percent increase from September 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 October 2018 in Reno was $217,500; a 25 percent increase from last year.
Sparks (including Spanish Springs) experienced 139 sales of existing single family homes in October 2018; an 8 percent decrease from October 2017 and a 1 percent decrease from the previous month, September 2018. The Sparks median sales price for an existing single family residence in October 2018 was $352,750; a 7 percent increase from last year in October 2017 and an increase of 2 percent from September 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 October 2018 in Sparks was $196,500; a 27 percent increase from last year.
The October 2018 report indicated that Fernley had 44 sales of existing single family homes; with an increase of 5 percent from October 2017 and a 30 percent decrease from the previous month, September 2018. The median sales price in Fernley for an existing single family residence in October 2018 was $258,500; a 9 percent increase from October 2017, and a 7 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.
“The Reno market is a seller’s market, at 2.9 months supply of inventory,” said Doug McIntyre, 2018 RSAR President and REALTOR® with Reno Property Management. “The month’s supply of inventory for the past two months has been at 3 months. This shows an improvement in inventory levels, providing buyers more choices.”
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.