Reno/Sparks median home price sets another record high in July | nnbusinessview.com

Reno/Sparks median home price sets another record high in July

NNBV staff report
This market snapshot shows the YOY trend of median price for Washoe County.
Courtesy RSAR
CORRECTIONThis story has been updated from a previous version to correctly report the percent decrease in single-family home sales for each market; RSAR initially provided inaccurate statistical data.The story as it stands now reflects the correct percentages. The NNBV apologizes for the error.

RENO, Nev. — Another month, another record high for home prices throughout Reno-Sparks.

According to an Aug. 9 report from the Reno/Sparks Association of Realtors, Washoe County’s median price for July 2018 reached $389,000, representing a “record high median price for the Reno/Sparks market,” said Doug McIntyre, 2018 RSAR president.

That’s a 10 percent increase compared to July 2017, according to RSAR, and a 2 percent increase from last month, June 2018.

“When you factor in pricing with the seasonal trend, I would anticipate that unit sales numbers may not reach 2017 levels,” McIntyre added, according to an RSAR press release.

In Reno specifically, meanwhile, the median home price for July was $400,000, a 7 percent increase from July 2017 and no change from last month.

Below is a breakdown of July stats and trends across Northern Nevada, as provided by RSAR.

RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (http://www.nnrmls.com). Go to visit http://www.rsar.net to learn more and to view the full July report:

• In July, Washoe County had 555 sales of existing single-family homes, a decrease of 17 percent from July 2017 and a 7 percent decrease from one month ago, June 2018. The median sales price of existing condominium/townhomes in Washoe County in July 2018 was $192,000, a 3 percent increase from a year ago.

• In July 2018, Reno (including North Valleys) had 375 sales of existing single-family homes, a decrease of 18 percent from last year and a 14 percent decrease from the previous month. The existing condominium/townhome median sales price for July 2018 in Reno was $201,950, a 7 percent decrease from last year.

• Sparks (including Spanish Springs) experienced 180 sales of existing single-family homes in July 2018, a 12 percent decrease from July 2017 and a 7 percent increase from the previous month. The Sparks median sales price in July 2018 was $364,500, a 13 percent increase from last year in July 2017 and an increase of 0.5 percent from June 2018. The existing condominium/townhome median sales price for July 2018 in Sparks was $186,500, a 21 percent increase from last year.

• The July 2018 report indicated that Fernley had 53 sales of existing single-family homes, a decrease of 9 percent from July 2017 and a 15 percent decrease from the previous month. The median sales price in Fernley was $252,500, a 12 percent increase from July 2017, and no change from last month.




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