By Jennifer Rey
The Reno/Sparks Association of Realtors compiled a report this month that showed the sale of 1,310 existing single-family homes in Reno/Sparks during the fourth quarter of 2018. This demonstrated a 17 percent decrease from last year and an 18 percent decrease from the previous quarter.
The median sales price for an existing single-family residence was $375,000 in the 2018 fourth quarter, an increase of 7 percent from last year and a decrease of 1 percent from the third quarter of 2018.
The 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 Reno/Sparks in the fourth quarter of 2018 was $195,000; an increase of 15 percent from a year ago.
In December 2018, Reno/Sparks sold 373 existing single-family homes, a decrease of 20 percent from November 2018 and a decrease of 24 percent from December 2017. The median sales price of an existing single-family home in Reno/Sparks in December 2018 was listed at $362,000; a 5 percent increase from last year and a 4 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 median sales price of existing condominium/townhomes in Reno/Sparks in December 2018 was $199,650; an increase of 20 percent from last year.
Existing Single-family Homes Sold in 4th Qtr 2018 | Median Price of Existing Single-family Homes in 2018 4th Qtr | Median Price of Condos/townhomes in 2018 4th Qtr | Existing Single-family Home Sales for Dec. 2018 | Median Home Price of Existing Single-family Homes for Dec. 2018 | Median Price of Existing Condo/Townhome in Dec. 2018 | |
| Reno/Sparks | 1,310 | $375,000 | $195,000 | 373 | $362,000 | $199.650 |
| Reno (N. Valleys) | 905 | $395,000 | $200,000 | 248 | $377,500 | $212,000 |
| Sparks (Sp. Springs) | 405 | $350,000 | $187,750 | 125 | $345,000 | $184,000 |
| Fernley | 133 | $259,000 | – | 43 | $259,900 | – |
RSAR obtained its information from the Northern Nevada Regional Multiple Listing Service.
“The Reno market is still at a seller’s market,” said Angelica Reyes, 2018 RSAR president. “The inventory levels are gradually increasing, and prices are slowly falling, which is a good sign for future buyers.”
Source: www.rsar.net
www.nnrmls.com
