RSAR releases its July home sales report | nnbw.com

RSAR releases its July home sales report

Special to the NNBW

RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its July 2017 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 (http://www.nnrmls.com).

During July 2017, the report showed Washoe County had 627 sales of existing single-family homes; an increase of 4 percent from July 2016 and a 17 percent decrease from one month ago, June 2017. The report listed the median sales price for an existing single family residence in Washoe County in July 2017 at $357,500; an increase of 13 percent from July 2016 and a 5 percent increase from June 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 July 2017 was $195,000; a 35 percent increase from a year ago.

In July 2017, Reno (including North Valleys) had 428 sales of existing single family homes; an increase of 7 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 in July 2017 was $387,250; a 17 percent increase from July 2016, and an 8 percent increase from June 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 July 2017 in Reno was $215,000; a 35 percent increase from last year.

Sparks (including Spanish Springs) experienced 199 sales of existing single family homes in July 2017; a less than 1 percent decrease from July 2016 and a 17 percent decrease from the previous month in June 2017. The Sparks median sales price for an existing single family residence in July 2017 was $315,000; a 5 percent increase from last year in July 2016 and a 5 percent increase from June 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 July 2017 in Sparks was $153,500; a 13 percent increase from last year.

The July 2017report indicated that Fernley had 39 sales of existing single family homes; a 5 percent increase from July 2016 and a 48 percent decrease from the previous month in June 2017. The median sales price in Fernley for an existing single family residence in July 2017 was $230,000; up 21 percent from July 2016 and a 1 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.

"Although we are seeing the typical seasonal drop in pending sales, 2017 year-to-date pending sales are up 10 percent from 2016," said John Graham, 2017 RSAR President and REALTOR® with Re/Max Premier Properties. "If this trend continues through the end of the year, it will be another record year in sales. Buyers, while frustrated by the lack of inventory, are finding and successfully closing transactions with the help of a REALTOR."

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The Reno/Sparks Association of REALTORS® is an organization providing services to its members to ensure their success as real estate professionals, as well as protecting and promoting the consumer’s dream of homeownership. For more information visit http://www.rsar.net.

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