Reno median home price hits $400,000 for March; $375K in Washoe County | nnbusinessview.com

Reno median home price hits $400,000 for March; $375K in Washoe County

NNBW staff

Home prices continue to climb in Washoe County.

The median price of an existing single-family home in Reno hit the $400,000 mark in March, a 21 percent increase from a year ago and an increase of 6 percent compared to April, according to the Reno/Sparks Association of Realtors (RSAR) March 2018 report.

Throughout Washoe County, the cost of homes continues to climb, with the median price county wide at $375,000 in March.

"As we approach the spring selling season, sellers are seeing this as a good time to sell," said Doug McIntyre, 2018 RSAR president and a Realtor with Reno Property Management. "First quarter new listings are up 1 percent compared to the same period in 2017."

The RSAR report released today includes numbers for the first quarter of 2018, as well as the monthly data.

Washoe County

The report showed Washoe County had 1,376 sales of existing single-family homes; with a 5 percent increase from last year and a 13 percent decrease from the previous quarter.

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The median sales price for an existing single family residence in Washoe County in the 2018 first quarter at $368,000; an increase of 17 percent from last year and a 5 percent increase from the fourth quarter of 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 the first quarter of 2018 was $193,000; an increase of 23 percent from a year ago.

For the month, Washoe County had 528 sales of existing single-family homes; an increase of 19 percent from February 2018 and a decrease of 6 percent from March 2017. The median sales price for an existing single family residence in Washoe County in March 2018 at $375,000; an 18 percent increase from last year and a 2 percent increase from the previous month

The median sales price of existing condominium/townhomes in Washoe County in March 2018 was $230,000; an increase of 25 percent from last year.

Reno

During the 2018 first quarter, Reno (including North Valleys) had 958 sales of existing single family homes; an increase of 9 percent from last year and a 15 percent decrease from the fourth quarter of 2017.

The median sales price in Reno for an existing single-family residence in the first quarter of 2018 was $383,876; an increase of 18 percent from last year and an 8 percent increase from the previous quarter.

The existing condominium/townhome median sales price for the first quarter of 2018 in Reno was $212,000; an increase of 21 percent from last year.

In March 2018, Reno and North Valleys had 348 sales of existing single family homes; a decrease of 8 percent from last year and a 9 percent increase from February 2018.

The median sales price in Reno for an existing single-family residence in March 2018 was $400,000; an increase of 21 percent from March 2017 and a 6 percent increase from the previous month.

The existing condominium/townhome median sales price for March 2018 in Reno was $250,000; an increase of 33 percent from last year.

Sparks

Sparks (including Spanish Springs) had 418 sales of existing single family homes in 2018's first quarter; a decrease of 3 percent from last year and a 7 percent decrease from the previous quarter.

The Sparks median sales price for an existing single-family residence in the first quarter of 2018 was $345,000; an increase of 18 percent from last year and a 3 percent increase from the fourth quarter of 2017.

The existing condominium/townhome median sales price for 2018's first quarter in Sparks was $175,139; an increase of 22 percent from last year.

For March, Sparks and Spanish Springs had 180 sales of existing single family homes in March 2018; a decrease of less than 1 percent from last year and an 46 percent increase from the previous month. The Sparks median sales price for an existing single family residence in March was $344,000; an increase of 19 percent from last year and a less than 1 percent decrease from the previous month.

The existing condominium/townhome median sales price for March 2018 in Sparks was $173,250; an increase of 20 percent from last year.

Fernley

The 2018 first quarter report showed Fernley, which is in Lyon County, had 148 sales of existing single family homes; with a 33 percent increase from the same time last year and a 10 percent increase from 2017's fourth quarter.

The median sales price in Fernley in 2018's first quarter was $242,000; an 18 percent increase from last year and a 2 percent increase from the previous quarter.

The March 2018 report indicated that Fernley had 58 sales of existing single-family homes; an increase of 26 percent from last year and a 16 percent increase from the previous month. The median sales price in March 2018 was $243,600; an increase of 20 percent from March 2017 and a 1 percent increase from last month.