Reno: Increase in The Sales of Existing Homes

The Reno/Sparks Association of Realtors reports a continued increase in the sales of existing homes while the median price continues to decline.

There were 366 sales of existing single-family homes in Washoe County in March, up 24 percent from the previous month and 58 percent from March 2008, according to the Reno/Sparks Association of Realtors. The numbers only include existing stick-built single-family dwellings and do not include condos, townhomes, new properties and manufactured or modular homes.Median prices continue to post steep declines in the area year-over-year, falling to $200,000 in March. Although the number is just a slight 1 percent drop from February, it also represents a 27 percent drop from March 2008. Nevertheless, recent monthly trends in median price show some positive signs, said RSAR president Kris Layman.

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