Washoe County home sales down; home prices up

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RENO, Nev. (KOLO)-- Single-family home sales dropped in Washoe County for July compared to the previous month and to July 2017, the Reno/Sparks Association of Realtors reported Thursday.

But the average price for existing homes increased in July to $389,000. That’s up 2 percent from June and 10 percent from July 2017.

“This is a record high median price for the Reno/Sparks market,” said Doug McIntyre, 2018 RSAR president. “When you factor in pricing with the seasonal trend, I would anticipate that unit sales numbers may not reach 2017 levels.”

These figures do not reflect condominiums or manufactured homes or new home sales.

In July, there were 555 single-family homes sold in Washoe County, down 7 percent from the previous month and 17 percent from a year ago. Reno, excluding the North Valleys, had 375 sales, a drop of 18 percent from last year. The median sale price for Reno was $400,000, a 7 percent increase from 2017. Sparks had 180 single homes sale, a 7 percent drop from the previous month and a 12 percent drop from the previous year. Single homes had a median sale price of $364,500 in Sparks, a 13 percent increase from last year.