Reno Real Estate Sales Climb Through Third Quarter

Reno Real Estate Sales Climb Through Third Quarter

ZEPHYR COVE, Nev. (Oct. 6, 2014) – The Reno-area real estate market continues to rebound in the third quarter, with a nine percent rise in sales volume and 14 percent jump in median home price compared to a year ago.

The figures are part of a report released by Lake Tahoe-based real estate company Chase International, and compare the prices and closings from January 1, 2014 through September 30, 2014 to the same time period of 2013. The regional median price of a home is $239,000. In Reno specifically, it is up 11 percent to $245,000 and in Sparks it jumped 18 percent to $231,950. The sales of homes sold for more than a million increased 30 percent. Homes selling for less than a million, stayed relatively stable, with a five percent drop in Reno and a two percent increase in Sparks.

“The national trend is a stabilization of prices and sales,” said Sue Lowe, corporate vice president of Chase International. “Reno continues to go against the grain in a favorable way.”

Reno was listed in the middle of the pack in the Livability.com top 100 places to live in 2014 – noted for its outdoor activities, thriving arts scene and affordable housing options. Entrepreneur also lists it as one of Three Alternative Tech Startup Cities (With Less Traffic, More Housing) with its geographic location and affordability being key factors in its appeal.

Home prices in Carson Valley were up, with a ten percent jump in median price ($275,500) and six percent rise in average price ($315,115). Sales volume, however, was down three percent and units sold was down eight percent.

Headquartered in Lake Tahoe, Nevada since 1986, with nine offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe, Carson Valley and Reno) and one in London, England, Chase International and its exclusive affiliations handle a large share of the country’s property. With 260 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels. For more information about Chase International, visit www.chaseinternational.com.