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Home sales, values continue to fluctuate
by Tribune Staff
Feb 16, 2012 | 1101 views | 0 0 comments | 2 2 recommendations | email to a friend | print
SPARKS — The fluctuations and volatility in the local housing market continued in January, as home sales and values slumped once more to kick off 2012.

Last month, 436 homes sold across Washoe County, an increase of 20 percent from one year ago but an 18 percent decrease from December, according to figures compiled by the Reno/Sparks Association of Realtors (RSAR).

The median sales price for an existing single-family home in Washoe County was $135,000 last month, a decrease of 14 percent from one year ago and a 13 percent decrease from December. Sales numbers do not include condominium, town home, manufactured, modular or new home sales not reported in the Multiple Listing Service.

In January, Reno (including North Valleys) had 279 sales of existing homes, an increase of 17 percent from last year and a 20 percent decrease from December. The median sales price in Reno last month was $140,000, a decrease of 17 percent from January 2011 and a 13 percent decrease from the previous month.

Sparks (including Spanish Springs) experienced 148 home sales in January, a 27 percent increase from one year ago but a 10 percent decrease from the previous month. The Sparks median sales price for an existing single-family residence in January was $126,700, an 11 percent decrease from one year ago and a 16 percent decrease from December.

“We continue to see record year-over-year sales with January 2012 unit sales being the highest January sales number in history,” said Kevin Sigstad, 2012 president of the RSAR and a broker with Re/Max Premier Properties. “The decrease in month-over-month unit sales is a fairly normal trend. Many homebuyers rush to buy a home in December for tax implications. However, the year-over-year increase in home sales continues to tell us more and more homebuyers are finding great value in home ownership in northern Nevada and that this is a great and desirable place to live.”

“In regards to the median sales price, the decrease is not surprising,” Sigstad added. “The current market is dominated by properties under $200,000 and 75 percent of all sales in January occurred in the under $200,000 price range. Therefore, the median sales price will be affected. The good news it that there continues to be a high demand for properties coming onto the market.”
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