RENO, NV – The Reno/Sparks and Carson Valley real estate markets have experienced a slight leveling off over last year’s numbers, yet the region is experiencing increasing sales prices, according to a quarterly report released by Lake Tahoe-based real estate company Chase International. First quarter statistics show an eight percent increase in sales volume in the Reno-Sparks area with a 19 percent jump in median prices over last year for single family homes sold. The report compares first quarter sales from 2014 to first quarter 2013.
The Reno market saw a five percent jump in sales volume and a 19 percent increase in median home price with the median home price inching up to $234,900 compared to last year’s median price of $197,500. The average home price in Reno is $291,185, up 14 percent over last year’s average price. Units sold were down seven percent for homes sold for less than a million as inventory levels continue to remain historically low. Sales volume increased at an impressive rate in Sparks, with an 18 percent jump. The median home price in Sparks is $219,900, up 24 percent.
“The Reno/Sparks market numbers show notable strength in both sales prices and value,” said Susan Lowe, corporate vice president of Chase International. “Homeowners who are thinking about listing their home for sale now are reaping the benefit of holding onto their properties during the market downturn of 2008 through 2011.”
The Carson Valley market experienced a 13 percent decrease in sales volume with an 18 percent decrease in number of units sold. The median price of a home is up seven percent to $251,000 and the average price is up six percent to $304,537. These are modest gains as compared to more substantial increases reported a year ago.
“The Reno/Sparks and Carson Valley markets are still on the upswing,” said Lowe. “Low inventory levels are definitely affecting the number of units available and therefore sold.”
About Chase International
Headquartered in Lake Tahoe, Nevada since 1986, with ten offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Graeagle, Truckee, South Lake Tahoe, Carson Valley and Reno) and one in London, England, Chase International and its exclusive affiliations handle a large share of the country’s property. With 260 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.