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October 2016 Reno Market Report
Affordability continues to be THE topic of conversation in the Reno real estate market.  Prices increased almost 10% from the same time last year.  On the other hand, sales have slowed down.  However, that is typical for this time of year.  Inventory levels also increased.  For a more in depth look at the October 2016 Reno Market Report, please read on.
October 2016 Reno Market ReportAccording to the Reno/Sparks Association of REALTORS®, the median sale price for a single-family residential Reno/Sparks home sold in October 2016 was $306,425.  While this increased 9.5% from the previous October's median, it dipped slightly (1.2%) from September 2016's median.  July saw the highest median sale price this year at $318,000.
Buyers paid an average of $178.78/square foot in October 2016.  This was 0.5% higher than September 2016 and 9.3% higher than the same time last year.  The price-per-square-foot has hovered between $177 and $179 since June 2016.  The Suburban Southwest area of Reno continues to have the highest median sale price (just over $650,000).  The West Suburban area comes in second at just above $450,000.    The North Valleys show the most affordable prices, at a median just below $250,000.  If this is outside your budget, you ... more

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