The Reno/Sparks Association of Realtors (RSAR) has released their October 2018 report on home sales in Washoe County.
The report showed a decrease of 17 percent of homes sales in October, with a one percent increase from September.
Median sales price for an existing, single family home in Washoe County for October was $380,000, which was an increase of two percent from September and a ten percent increase from last October.
The median sales price of existing condos and townhomes was $200,000, a 19 percent increase from a year ago.
In Reno specifically, an existing single family home in October was $402,675 on average. That's a 12 percent increase from last October, and a three percent increase from September.
Condos and townhomes in Reno were $217,500, which is a 25 percent increase from last year.
Sparks saw an eight percent decrease in home sales from last year and a one percent decrease from the previous month.
Median sales price for an existing single family home in October was $352,750, a seven percent increase from last year and a two percent increase from September.
Existing condos and townhomes in Sparks was $196,500 on average, which was a 27 percent increase from last year.
In Fernley, they saw an increase of five percent in sales and a 30 percent decrease from the previous month.
Median sales prices for existing single family homes was $258,500, increasing by nine percent from last year and seven percent from the month before.
“The Reno market is a seller’s market, at 2.9 months supply of inventory,” said Doug McIntyre, 2018 RSAR President and REALTOR® with Reno Property Management. “The month’s supply of inventory for the past two months has been at 3 months. This shows an improvement in inventory levels, providing buyers more choices.”
(The Reno/Sparks Association of Realtors contributed to this report).
