Reno’s housing crisis continues to be exacerbated by the cost of homes, and recent figures released by the Reno-Sparks Association of Realtors (RSAR) show a continuation of this trend.
Median sales prices in August for Washoe County were at $349,000, an increase of 13 percent from the previous year. Median prices are those falling at the middle of a range of prices.
Figures are for single-family residence. They do not include townhomes, newly built homes, or condos.
“Unit sales in August reached a record high for the month of August at 678,” said John Graham, RSAR’s 2017 president. “The average days to contract are 38 in August, down 19 percent compared to August 2016.”
While Reno’s growth continues, critics condemn the negative effects the growth is having on the area’s vulnerable populations and say that not enough is being done to ensure companies offer livable wages.Reno Area Home Prices Continue To RiseClick To Tweet