Home sales decrease from a year ago

Washoe County had 375 sales of existing family homes in January, an increase an increase of 3 percent from a year ago in January 2015 and a 25 percent decrease from one month ago in December 2015, according to the monthly report released today by the Reno/Sparks Association of REALTORS. The report listed the median sales price for an existing single family residence in Washoe County in January 2016 at $277,000; an increase of 9 percent from January 2015 and a 5 percent decrease from December 2015.

The median sales price of existing condominium/townhomes in Washoe County in January 2016 was $176,800; an 80 percent increase from a year ago.

“Historically, the January median price typically shows seasonal decline, and then a recovery in early spring,” said William Process, 2016 RSAR president and a REALTOR® with HomeGate Realty of Nevada. “Overall, the market is showing signs of early stability. However, affordability for the medium household income remains a concern.”

Reno (including North Valleys) had 237 sales of existing single family homes; a decrease of 4 percent from last year and a 28 percent decrease from December 2015. The median sales price in Reno for an existing single family residence in January 2016 was $285,000; a 6 percent increase from January 2015, and a 6 percent decrease from the previous month. The existing condominium/townhome median sales price for January 2016 in Reno was $185,000; an 86 percent increase from last year.

Sparks (including Spanish Springs) experienced 138 sales of existing single family homes in January 2016; a 19 percent increase from January 2015 and a 20 percent decrease from the previous month in December 2015. The Sparks median sales price for an existing single family residence in January 2016 was $260,000; a 6 percent increase from last year in January 2015 and a 2 percent increase from December 2015. The existing condominium/townhome median sales price for January 2016 in Sparks was $109,500; an 18 percent increase from last year.

The January 2016 report indicated that Fernley had 31 sales of existing single family homes; a decrease of 3 percent from last year in January 2015 and an18 percent decrease from the previous month in December 2015. The median sales price in Fernley for an existing single family residence in January 2016 was $178,500; a 10 percent increase from January 2015 and a 5 percent increase from last month.

RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com) and includes sales of bank-owned (foreclosure) properties. For more information visit www.rsar.net.