RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its 2017 fourth quarter and December 2017 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 fourth quarter of 2017, the report showed Washoe County had 1,567 sales of existing single-family homes; with a 1 percent decrease from last year and a 21 percent decrease from the previous quarter. The report listed the median sales price for an existing single family residence in Washoe County in the 2017 fourth quarter at $349,000; an increase of 13 percent from last year and a less than 1 percent decrease from the third 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 fourth quarter of 2017 was $170,000; an increase of 13 percent from a year ago.
During December 2017, the report showed Washoe County had 482 sales of existing single-family homes; a decrease of 9 percent from November 2017 and a decrease of 10 percent from December 2016. The report listed the median sales price for an existing single family residence in Washoe County in December 2017 at $345,000; a 15 percent increase from last year and a 2 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 Washoe County in December 2017 was $165,500; an increase of 14 percent from last year.
During the 2017 fourth quarter, Reno (including North Valleys) had 1,094 sales of existing single family homes; an increase of 6 percent from last year and a 20 percent decrease from the third quarter of 2017. The median sales price in Reno for an existing single family residence in the fourth quarter of 2017 was $360,000; an increase of 13 percent from last year and a 1 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 newly constructed homes. The existing condominium/townhome median sales price for the fourth quarter of 2017 in Reno was $188,000; an increase of 23 percent from last year.
In December 2017, Reno (including North Valleys) had 333 sales of existing single family homes; a decrease of 5 percent from last year and a 10 percent decrease from November 2017. The median sales price in Reno for an existing single family residence in December 2017 was $350,000; an increase of 11 percent from December 2016 and a 3 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 existing condominium/townhome median sales price for December 2017 in Reno was $185,000; an increase of 28 percent from last year.
Sparks (including Spanish Springs) had 473 sales of existing single family homes in 2017’s fourth quarter; a decrease of 15 percent from last year and a 23 percent decrease from the previous quarter. The Sparks median sales price for an existing single family residence in the fourth quarter of 2017 was $329,525; an increase of 16 percent from last year and a 4 percent increase from the third 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 existing condominium/townhome median sales price for 2017’s fourth quarter in Sparks was $152,500; an increase of 3 percent from last year.
Sparks (including Spanish Springs) had 149 sales of existing single family homes in December 2017; a decrease of 18 percent from last year and an 8 percent decrease from the previous month. The Sparks median sales price for an existing single family residence in December was $335,000; an increase of 23 percent from last year and a less than 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 newly constructed homes. The existing condominium/townhome median sales price for December 2017 in Sparks was $146,450; an increase of 1 percent from last year.
The 2017 fourth quarter report showed Fernley had 129 sales of existing single family homes; with a 2 percent increase from the same time last year and a 10 percent decrease from 2017’s third quarter. The median sales price in Fernley for an existing single family residence in 2017’s fourth quarter was $235,000; a 19 percent increase from last year and a 4 percent increase 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 newly constructed homes.
The December 2017 report indicated that Fernley had 43 sales of existing single family homes; a decrease of 2 percent from last year and a 4 percent decrease from the previous month. The median sales price in Fernley for an existing single family residence in December 2017 was $227,900; an increase of 19 percent from December 2016 and a 7 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 newly constructed homes.
“Units sales for 2017 were at a five year record high up 3 percent from 2016,” said Doug McIntyre, 2018 RSAR president and a REALTOR with Reno Property Management. “In 2017, pending sales kept pace with new listings as compared to prior years. We expect continued pressure on inventory which will drive the median price higher in 2018.”
The Reno/Sparks Association of REALTORS® is an organization providing services to its members to ensure their success as real estate professionals, as well as protecting and promoting the consumer’s dream of homeownership. For more information visit www.rsar.net.