RENO, Nev. (Oct. 11, 2011) – Despite a dip in home prices, the Reno-Sparks housing market is looking up with an increase in home sales. The figures, part of a quarterly report released by Lake Tahoe-based real estate company Chase International, indicated a seven-percent jump in units sold in the Reno-Sparks area and a 14-percent rise in units sold in Carson Valley.
The median price of a home in Reno-Sparks is $155,000 (down 11 percent) and the average price is $194,270 (down ten percent). The sales and figures are compared to the third quarter of 2010 and include all sales from January 1 through September 30, 2011. The National Association of Realtors recently reported that the median price of a home in the West ($189,400) is down 13 percent from a year ago, putting the Reno-Sparks fluctuations in line with national trends. The median price of a home in Carson Valley is $195,000 (down 11 percent) and the average is $254,929 (down four percent).
There was a substantial jump in homes sold for more than $1 million. Reno saw a 22 percent jump in homes sold for more than a million and Carson Valley doubled its sale of homes over the million mark.
“Transactional markets are doing quite well in terms of sales,” said Sue Lowe, corporate vice president for Chase International. “We’re also seeing a return of the high-end buyer, which is obviously having a positive effect on Reno.”
About Chase International
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.