RSAR releases August 2016 existing home sales report

The Reno/Sparks Association of REALTORS® (RSAR) today released its August 2016 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).

During August 2016, the report showed Washoe County had 569 sales of existing single-family homes; an increase of 8 percent from a year ago in August 2015 and a 4 percent decrease from one month ago in July 2016. The report listed the median sales price for an existing single family residence in Washoe County in August 2016 at $310,000; an increase of 7 percent from August 2015 and a 3 percent decrease from July 2016. 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 August 2016 was $137,200; a 5 percent decrease from a year ago.

In August 2016, Reno (including North Valleys) had 383 sales of existing single family homes; an increase of 10 percent from last year and a 3 percent decrease from July 2016. The median sales price in Reno for an existing single family residence in August 2016 was $325,000; a 9 percent increase from August 2015, 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 existing condominium/townhome median sales price for August 2016 in Reno was $137,200; a 15 percent decrease from last year.

Sparks (including Spanish Springs) experienced 186 sales of existing single family homes in August 2016; a 6 percent increase from August 2015 and a 7 percent decrease from the previous month in July 2016. The Sparks median sales price for an existing single family residence in August 2016 was $270,000; a 2 percent decrease from last year in August 2015 and a 10 percent decrease from July 2016. 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 August 2016 in Sparks was $138,000; a 17 percent increase from last year.

The August 2016 report indicated that Fernley had 45 sales of existing single family homes; a 32 percent increase from August 2015 and a 22 percent increase from the previous month in July 2016. The median sales price in Fernley for an existing single family residence in August 2016 was $199,000; up 21 percent from August 2015 and a 5 percent increase 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.

“The median home price for single family residences is up in August, but has slowed overall from prior years,“ said William Process, 2016 RSAR President and a REALTOR® with HomeGate Realty of Nevada in a press release. “The year-over-year price gains have been in single digits in 2016 with the exception of June and July which are peak selling months.”