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Reno Home Prices Continue to Increase

RENO, Nev. (Apr. 5, 2017) – Home prices in Reno/Sparks continued their steady climb this quarter, despite a slight dip in units sold. The median price of a home rose nine percent to $315,000, while units sold was down four percent. Volume sold was up four percent, primarily a result of the increase in home prices.

The figures are part of a quarterly report released by Lake Tahoe-based real estate agency Chase International. The numbers compare all MLS home sales from January 1, 2017 through March 31, 2017 to the same time frame of 2016.

Reno proper experienced a 29 percent drop in homes sold for over $1 million, while Sparks saw a 12 percent decrease in homes selling for less than a million.

Carson Valley also saw a rise in home prices, with the median cost of a home jumping 11 percent to $349,950. Sales volume was up eight percent and units sold was down four percent.

“The continued rise in home prices and value indicate a healthy market,” said Sue Lowe, corporate vice president for Chase International. “This winter has been somewhat of an anomaly but buyers are returning.”