Reno/Sparks Real Estate Continues to Climb

INCLINE VILLAGE, Nev. (Apr. 5, 2013) – Reno/Sparks real estate is off to an
auspicious start, according to a quarterly report released by Lake Tahoe-based real estate
company Chase International. First quarter figures show a 15 percent increase in sales
volume in the Reno-Sparks area with a 350 percent leap in homes sold for more than $1
million.
 
The report, released earlier this week, compares first quarter sales from 2013 to first
quarter 2012. The median home price in Reno-Sparks is up a whopping 31 percent to
$189,950 and the average is up 35 percent to $237,873. Units sold were down 15 percent
and homes sold for less than a million down 16 percent, due to the extremely low levels
of inventory.
 
Reno specifically saw a 22 percent jump in sales volume and a 33 percent increase in
median home price ($197,000). Sales volume stayed level in Sparks, where the median
home price is $177,900, up 25 percent.
“The Reno market has been on a slow and steady climb for a couple years,” said Susan
Lowe, corporate vice president of Chase International. “But these numbers show
significant movement in the higher end market as well as a substantial rebound in prices
and value.”
 
Carson Valley saw a 34 percent increase in sales volume with a five percent increase
in units sold. The median price of a home is up 34 percent to $235,000 and the average
price is up 27 percent to $290,799.
 
“The market continues to rebound at a healthy rate,” commented Lowe. “Inventory
levels are staying at historic lows. Until supply returns, it is my opinion that the market
will continue its upward trajectory.”
 
Headquartered in Lake Tahoe, Nevada since 1986, with eight offices in the region
(Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South
Lake Tahoe and Reno) and one in London, England, Chase International and its exclusive
affiliations handles a large share of the country’s property. A recognized leader in the
world of real estate, Chase International continues to grow, having added 65 Realtors® to
their ranks in the past twelve months.
 
With 240 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.
 
##