Reno home sales climbed steadily in 2016
Reno real estate ended 2016 on a solid note, with an overall nine-percent increase in sales volume and four-percent rise in units sold throughout Reno and Sparks.
The figures are part of a year-end report released by Lake Tahoe-based real estate agency Chase International. The numbers compare all MLS home sales from January 1, 2016 through December 31, 2016 to the same time frame of 2015. The median price of a home in the Reno-Sparks area rose nine percent to $304,990.
While Reno generally sees more than twice the sales of Sparks, Sparks gained ground on its sister city with a 15-percent jump in volume sold and seven-percent increase in units sold (compared to Reno’s six and two percent growth, respectively).
There was a nine percent increase in volume sold in the Carson Valley, with units sold up six percent. The median price of a home there rose three percent to $325,000.
“I expect the Reno market to continue on this pace,” said Susan Lowe, corporate vice president for Chase International in a press release. “The Reno area is brimming with promise, both economically and recreationally.”
On April 1, Nevada Gov. Steve Sisolak formally issued a “Stay at Home” directive for Nevadans and extended closures of nonessential businesses, gambling and school closures to April 30.