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Home sales, median prices rise in August
by Joshua H. Silavent
Sep 21, 2011 | 1091 views | 0 0 comments | 2 2 recommendations | email to a friend | print

SPARKS – The number of homes sold and the median sales price of existing single-family residences in Sparks rose in August after falling off in recent months, a sign, perhaps, that buyers are finally taking advantage of an affordable summer selling season.

Last month, 167 homes sold in Sparks (including Spanish Springs), a 5 percent increase from one year ago and a 1 percent increase from July, according to numbers collected by the Reno/Sparks Association of Realtors.

The median sales price for a home here topped out at $150,000 in August, a 7 percent decrease from one year ago and a 7 percent increase from July. Inventory for Sparks is at 6.5 months, 7 percent higher than one year ago, according to Mitch Argon of CalNeva Realty.

“Washoe County sales are the highest they have been for an August since August 2005,” Sherrie Cartinella, 2011 president of the Reno/Sparks Association of Realtors, said in a statement. “This, paired with the fact that median sales prices are up and continue to settle creates cautious optimism that this is the bottom. Regardless, the current median sales prices and historic low interest rates make this a good time to buy for those that have been on the fence.”

In Reno, 367 homes sold in August, a 29 percent increase from one year ago. The median sales price last month was $155,000. Inventory for Reno is at 8 months, 4 percent higher than one year ago, Argon reports.
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