Washoe Co. Existing Homes Sales Post Strong Quarterly Gain

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Posted: 1:16 PM Oct 22, 2008 Washoe Co. Existing Homes Sales Post Strong Quarterly Gain There are more signs that Northern Nevada continues to dig out of its own housing slump.

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RENO - There are more signs that Northern Nevada continues to dig out of its own housing slump.

Existing home sales in Washoe County total 1,0 73 for the third quarter ending September 30. That's a 29 percent increase over the same period last year. Reno and Sparks home sales each record 18 percent increases in sales of existing homes.

On the flip side, housing prices continue to head downward as the market adjusts.

The median price of an existing in Washoe County now stands at $245,000 ... A 20 percent decrease from a year go.

The median price in Reno and Sparks now stand at $299,000 and $231,000, respectively.

Wayne Capurro, president of the Reno-Sparks Association of Realtors, says there is cautious optimism in the market, but he adds there is still a "deep hole" for the market to climb out of. He added that much of the sale activity is related to the high number of sales of foreclosed home sales.

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