The May 2015 Reno Home Sales Market Report is in. Washoe County as a whole saw increases in both total sales and median prices. The Reno community saw even larger increases in both.
Breakdown of May 2015 Reno Home Sales
The figures discussed in this May 2015 Reno Home Sales Market Report are based on the reported stats from the Reno/Sparks Association of REALTORS®. They gather information from the Northern Nevada Regional MLS. According to their findings, Washoe County showed that 567 existing single-family homes were sold in May 2015. This was 4% higher than the same time last year. There were 368 existing single-family homes sold in Reno between May 1 and May 30, 2015. That was 5% higher than the amount sold in May 2014. 
The median sale price of a Washoe County single-family home sold in May 2015 was $284,900. That was a 19% increase from May 2014. The median sale price of a Reno single-family home sold in May 2015 was even higher at $287,000. That is a whopping 21% higher than in May 2014.
Condos and townhomes saw an even larger increase in their median sales price. The Washoe County average for a condo/townhome, manufactured or newly constructed home in May 2015 was $125,000. That was 39% higher than the same time last year. Reno condos/townhomes, manufactured and newly constructed homes increased 59%. Their median sale price was $145,000 in May 2015. Existing single-family homes in Sparks also saw increases in total sales (3% from May 2014) and median sale price (16%).
What Do the May 2015 Reno Home Sales Figures Mean for a Buyer?
Prices are going up. Interest rates are as well. According to Bankrate.com, rates for a 30-year fixed rate loan have stayed at or above 4% since mid-May of this year. Experts have predicted that they could reach 5% or higher by the end of the year. If you have been on the fence about buying a Reno home, you need to get serious soon. Contact your Reno real estate specialist today to get started.
What are you looking for in a Reno home? How many bedrooms do you want? What square footage appeals to you? Which neighborhood are you most interested in living? Please let me know in the comments below.
Charlene Hamilton, Your Reno Real Estate Specialist
Originally posted on my Reno real estate blog here: http://charlenehamiltonrealestate.com/reno-home-sales/may-2015-reno-home-sales.
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