RSAR releases January existing home sales report

The Reno/Sparks Association of REALTORS (RSAR) released its January 2018 report on existing home sales in Washoe County.

RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).

During January, Washoe County had 400 sales of existing single-family homes; an increase of 10 percent from January 2017 and a 19 percent decrease from one month ago, December 2017.

The report listed the median sales price for an existing single family residence in Washoe County in January 2018 at $359,950; an increase of 19 percent from January 2017 and a 4 percent increase from December 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 January 2018 was $175,000; a 25 percent increase from a year ago.

Reno (including North Valleys) had 284 sales of existing single family homes; an increase of 24 percent from last year and a 17 percent decrease from the previous month. The median sales price in Reno for an existing single family residence was $370,869; a 16 percent increase from January 2017, and a 6 percent increase from December 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 January 2018 in Reno was $176,500; a 22 percent increase from last year.

Sparks (including Spanish Springs) experienced 116 sales of existing single family homes; a 14 percent decrease from January 2017 and a 24 percent decrease from the previous month in December 2017. The Sparks median sales price for an existing single family residence was $337,200; a 21 percent increase from last year in January 2017 and a 1 percent increase from December 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 January 2018 in Sparks was $167,250; a 24 percent increase from last year.

The report indicated that Fernley had 39 sales of existing single family homes; with a decrease of 3 percent from January 2017 and a 19 percent decrease from the previous month in December 2017. The median sales price in Fernley for an existing single family residence was $240,000; a 17 percent increase from January 2017, and a 4 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.

“January’s available active inventory was at a low of 528 available listings,” said Doug McIntyre, 2018 RSAR President and REALTOR with Reno Property Management. “The declining supply of active inventory is the primary reason we are seeing increasing prices. Looking to the year ahead, with the passage of the new tax bill, Californians will be looking at Nevada as a better place to own real estate.”

For more information visit www.rsar.net.