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RSAR Releases 2012 First Quarter/March Existing Home Sales Report

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The Reno/Sparks Association of REALTORS® (RSAR) today released its 2012 first quarter and March 2012 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 2012, the report showed Washoe County had 1,446 sales of existing single-family homes; an increase of 14 percent from last year and a 5 percent decrease from the previous quarter. The report listed the median sales price for an existing single family residence in Washoe County in the 2012 first quarter at $145,000; a decrease of 9 percent from last year and a decrease of 4 percent from the fourth quarter of 2011. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or new home sales. The median sales price of existing condominium/townhomes in Washoe County in the first quarter of 2012 was $59,000; down 4 percent from a year ago.
During March 2012, the report showed Washoe County had 524 sales of existing single-family homes; an increase of 3 percent from March 2011 and a 13 percent increase from February 2012. The report listed the median sales price for an existing single family residence in Washoe County in March 2012 at $149,950; a 6 percent decrease from last year and a 3 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 new home sales. The median sales price of existing condominium/townhomes in Washoe County in March 2012 was $52,000; down 3 percent from last year.
During the 2012 first quarter, Reno (including North Valleys) had 979 sales of existing single family homes; an increase of 15 percent from last year and a 6 percent decrease from the fourth quarter of 2011. The median sales price in Reno for an existing single family residence in the 2012 first quarter was $147,000; a decrease of 13 percent from last year and a 5 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 new home sales. The existing condominium/townhome median sales price for the first quarter of 2012 in Reno was $63,000; a decrease of 6 percent from last year.
In March 2012, Reno (including North Valleys) had 345 sales of existing single family homes; a slight 1 percent decrease from last year and an 8 percent increase from February 2012. The median sales price in Reno for an existing single family residence in March 2012 was $147,000; a decrease of 8 percent from March 2011 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 new home sales. The existing condominium/townhome median sales price for March 2012 in Reno was $64,975; an 18 percent increase from last year.
Sparks (including Spanish Springs) had 447 sales of existing single family homes in 2012’s first quarter; an increase of 12 percent from last year and less than a 3 percent decrease from the previous quarter. The Sparks’ median sales price for an existing single family residence in the first quarter of 2012 was $142,000; a decrease of 5 percent from last year and a 2 percent decrease from the fourth quarter of 2011. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or new home sales. The existing condominium/townhome median sales price for the 2012 first quarter in Sparks was $47,620; down 3 percent from last year.
Sparks (including Spanish Springs) experienced 163 sales of existing single family homes in March 2012; an increase of 4 percent from March 2011 and a 20 percent increase from the previous month. The Sparks’ median sales price for an existing single family residence in March 2012 was $152,247; a 6 percent decrease from last year and a 5 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 new home sales. The existing condominium/townhome median sales price for March 2012 in Sparks was $46,000; a 28 percent increase from last year.
The 2012 first quarter report showed Fernley had 117 sales of existing single family homes; an increase of 9 percent from last year and an 8 percent decrease from 2011’s fourth quarter. The median sales price in Fernley for an existing single family residence in the 2012 first quarter was $73,000; a decrease of 22 percent from last year and a 14 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 new home sales.
The March 2012 report indicated that Fernley had 40 sales of existing single family homes; a decrease of 23 percent from last year and a 14 percent increase from the previous month. The median sales price in Fernley for an existing single family residence in March 2012 was $71,250; a decrease of 25 percent from March 2011 and a 2 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 new home sales.
“March 2012 sales are the second highest in the history of MLS and were only exceeded by the boom year in 2005,” said Kevin Sigstad, 2012 president of the Reno/Sparks Association of REALTORS and the broker with Re/Max Premier Properties. “Although the volume of bank owned listings has declined, they have been replaced by traditional or equity sellers in the market. This trend may be the result of investors who are seeing us entering a seller’s market and see this as an opportunity to sell.”

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