Home sales market growth slows in Q3

The price of single-family homes in Washoe County continues to climb, but at a slowing rate, which is good news for buyers.

According to the 2015 third quarter and September 2015 report on existing home sales released Oct. 15 by the Reno/Sparks Association of REALTORS, the median sales price for the 2015 third quarter was $288,990, an increase of 17 percent from last year and a 4 percent increase from the second quarter of 2015.

“The announcement of the Federal Reserve Board to hold off on any increase in interest rates will help qualified buyers despite the trend of increasing median price,” said Dave Hansen, 2015 RSAR president and a Realtor with Coldwell Banker Select Real Estate. “We see the past 13-month leveling in the median price as a positive sign for buyers who can afford to purchase a home.”

The number of homes that sold in the county was 1,731, an increase of 7 percent from last year and a 4 percent decrease from the previous quarter,

During September, the report showed Washoe County had 560 sales of existing single-family homes for an increase of 10 percent from September 2014 and an increase of 7 percent from August 2015.

The monthly report listed the median sales price for an existing single-family residence in the county at $285,000, a 19 percent increase from last year and a 2 percent decrease from the previous month.

In Reno (including North Valleys), 1,196 existing homes sold during the third quarter, an increase of 12 percent from last year and a 2 percent decrease from the second quarter of 2015.

The median sales price in Reno for the third quarter was $299,250, an increase of 16 percent from last year and a 2 percent increase from the previous quarter.

In September 2015, Reno had 380 sales of existing single-family homes, an increase of 13 percent from last year and a 9 percent increase from August 2015.

The median sales price in Reno for the month was $295,000, an increase of 18 percent from September 2014 and no change from the previous month.

Sparks (including Spanish Springs) had 535 sales of existing single family homes in 2015’s third quarter, a decrease of 2 percent from last year and an 8 percent decrease from the previous quarter.

The Sparks third quarter median sales price was $266,000, an increase of 13 percent from last year and a 3 percent increase from the second quarter of 2015.

In September, Sparks experienced 180 sales of existing single-family homes, an increase of 5 percent from September 2014 and a 3 percent increase from the previous month. The Sparks’ median sales price was $265,000 for the month, an 18 percent increase from last year and a 4 percent decrease from the previous month.

Fernley, in Lyon County, had 127 sales of existing single-family homes in the third quarter, an increase of 23 percent from last year and a 12 percent decrease from the second quarter. The median sales price in Fernley for the third quarter was $176,500, a 26 percent increase from last year and a 5 percent increase from the previous quarter.

The September 2015 report indicated that Fernley had 37 home sales, an increase of 16 percent from last year and a 9 percent increase from the previous month.

Sales numbers are for existing stick built single-family dwellings only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes.

For existing condominiums and townhomes:

In Washoe County the median sales price in September 2015 was $150,000, an increase of 40 percent from last year.

In Reno, median sales price for the third quarter of 2015 in Reno was $155,000, an increase of 39 percent from last year.

The median sales price for September 2015 in Reno was $155,000; an increase of 44 percent from last year.

In Sparks, the existing condominium/townhome median sales price for the third quarter was $118,000; an increase of 18 percent from last year.

For the month of September in Sparks, the median sales price was $118,000, an increase of 10 percent from last year.

For Fernley in September, the median sales price was $170,000, a 3 percent increase from last month.

For more information visit www.rsar.net.