The Reno/Sparks Association of REALTORS® (RSAR) released its 2016 year-end, 2016 fourth quarter and December 2016 report for 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 2016, Washoe County had 6,559 sales of existing single family homes; an increase of 4 percent from 2015. The median sales price for existing single family homes in Washoe County in 2016 was $304,990; an increase of 9 percent from the previous year. 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 2016 was $155,900; an increase of 18 percent from 2015.
During the fourth quarter of 2016, Washoe County experienced 1,566 sales of existing single family homes; an increase of 7 percent from the fourth quarter of 2015 and a 14 percent decrease from the third quarter of 2016. The median sales price of existing single family homes in Washoe County in the fourth quarter of 2016 was $307,000; an increase of 7 percent from the fourth quarter of the previous year and a 2 percent decrease from the third quarter of 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 during the fourth quarter of 2016 was $150,450; a decrease of 8 percent from the previous year.
During December 2016, the report showed Washoe County had 518 sales of existing single-family homes; an increase of 3 percent from December 2015 and a 3 percent decrease from November 2016. The report listed the median sales price for an existing single family residence in Washoe County in December 2016 at $299,950; a 4 percent increase from last year 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 median sales price of existing condominium/townhomes in Washoe County in December 2016 was $149,000; a decrease of 14 percent from December 2015.
The report showed Reno (including North Valleys) had 4,335 sales of existing single family homes in 2016; an increase of 2 percent from the previous year. The median sales price for existing single family homes in Reno during 2016 was $318,000; an increase of 8 percent from 2015. 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 Reno in 2016 was $169,000; an increase of 13 percent from the previous year.
In Reno (including North Valleys), there were 1,023 sales of existing single family homes during the fourth quarter of 2016; a 5 percent increase from the fourth quarter of 2015 and an 18 percent decrease from the previous quarter. The median sales price of existing single family homes in Reno during the fourth quarter of 2016 was $318,500; an increase of 6 percent from the fourth quarter of 2015 and a 2 percent decrease from the third quarter of 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 Reno during the fourth quarter of 2016 was $159,000; a decrease of 6 percent from the fourth quarter of 2015.
The report indicated that Reno (including North Valleys) had 347 sales of existing single family homes during December 2016; an increase of 6 percent from last year and a 2 percent increase from November 2016. The median sales price in Reno for an existing single family residence in December 2016 was $315,000; an increase of 4 percent from December 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 December 2016 in Reno was $149,000; a 15 percent decrease from last year.
Sparks (including Spanish Springs) had 2,224 sales of existing single family homes in 2016; an 8 percent increase from 2015. The median sales price for existing single family homes in Sparks during 2016 was $282,000; an increase of 8 percent from 2015. 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 Sparks in 2016 was $134,950; an increase of 18 percent from 2015.
During the fourth quarter of 2016, Sparks (including Spanish Springs) experienced 543 sales of existing single family homes; a 12 percent increase from the fourth quarter of 2015 and a 7 percent decrease from the third quarter of 2016. The median sales price of existing single family homes in Sparks in the fourth quarter of 2016 was $285,000; an increase of 9 percent from last year and a decrease of 2 percent from the third quarter of 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 Sparks during the fourth quarter of 2016 was $150,000; an increase of 19 percent from the previous year.
Sparks (including Spanish Springs) experienced 171 sales of existing single family homes in December 2016; a decrease of 2 percent from December 2015 and a 13 percent decrease from the previous month. The Sparks’ median sales price for an existing single family residence in December 2016 was $270,000; a 6 percent increase from last year and a 4 percent decrease from November 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 December 2016 in Sparks was $155,000; an increase of 22 percent from last year.
In Fernley, there were 518 sales of existing single family homes in 2016; one more home than the previous year. The median sales price for existing single family homes in Fernley during 2016 was $189,900; a 13 percent increase from 2015. All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes.
Fernley experienced 125 sales of existing single family homes during the fourth quarter of 2016; with no change from the fourth quarter of 2015 and a 5 percent decrease from the previous quarter. The median sales price of existing single family homes in Fernley during the fourth quarter of 2016 was $195,000; an increase of 15 percent from the fourth quarter of 2015 and a 1 percent decrease from the third quarter of 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 December 2016 report showed Fernley had 42 sales of existing single family homes; an 11 percent increase from last year and the same amount of homes as November 2016. The median sales price in Fernley for an existing single family residence in December 2016 was $189,950; an increase of 12 percent from December 2015 and a 9 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.
“With the recent slow down in sales and the leveling in median price, many are asking, ‘Are we looking at another real estate bubble?’,” said John Graham, 2017 president RSAR and a REALTOR® with Re/Max Premier Properties. “All the indicators say no. If you look at pending sales, unit sales, new listings and median price there is no one factor that is out of alignment or indicating signs of a bubble. They are all following a more seasonal trend.”
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