Northern NV real estate: Tight market for existing home sales | SierraSun.com

Northern NV real estate: Tight market for existing home sales

Special to the Sun-Bonanza

Low inventory of existing single family houses for sale contributes to rising prices.

RENO, Nev. — The Reno/Sparks Association of Realtors (RSAR) recently released its April 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) and includes sales of bank-owned (foreclosure) properties.

Washoe County

547 sales of existing single-family homes; a decrease of 4 percent from a year ago and a 5 percent decrease from one month ago in March 2016.

Median sales price was $294,500; an increase of 8 percent from April 2015 and no change from March 2016.

The median sales price of existing condominium/townhomes in Washoe County in April 2016 was $176,000; a 47 percent increase from a year ago.

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Reno and North Valleys

364 sales of existing single family homes in April; a decrease of 8 percent from last year and a 1 percent decrease from March 2016.

The median sales price was $300,000; a 7 percent increase from April 2015, and a 2 percent decrease from the previous month.

The existing condominium/townhome median sales price for April was $185,000; a 54 percent increase from last year.

Sparks and Spanish Springs

183 sales of existing single family homes; a 7 percent increase from April 2015 and a 12 percent decrease from the previous month in March 2016.

The median sales price for an existing single family residence in April 2016 was $285,000; a 12 percent increase from last year in April 2015 and a 2 percent increase from March 2016.

The existing condominium/townhome median sales price for April 2016 was $122,550; a 1 percent increase from last year.

Fernley

43 sales of existing single family homes; a 23 percent decrease from April 2015 and a 9 percent decrease from the previous month in March 2016.

The median sales price was $195,000; a 15 percent increase from April 2015 and a 13 percent increase from last month.

This article was provided by the Reno/Sparks Association of Realtors. For more information, visit http://www.rsar.net.