Spring has sprung in the Biggest Little City and so has yet another record high for median home price.
The median price for an existing single-family house in the city of Reno reached $514,000 in March, up by nearly 20% from just a year ago, according to the Reno/Sparks Association of Realtors. The price is for stick-built dwellings and does not include condos, modular homes, townhouses and new housing.
Just next door, Sparks posted a new high mark as well. The median sales price for an existing home in the neighboring city reached $446,718 for the first time. The increases in both cities brought the combined median for Reno-Sparks to a record $485,000.
RENO, Nev. (AP) The median price for an existing single-family home in Reno has reached one half million dollars for the first time.The Reno/Sparks Association of Realtors reports the median sales price in Reno rose 4.2% from November to $500,000 in December.That's 23.5% higher than December 2019. The median sales price in neighboring Sparks dipped 1.4% from November to $405,000 in December.The median price for the two cities combined was $449,600, up 14.1% from December 2019. In Las Vegas, the median sales price in December was $345,000, matching the all-time record set in November.That's a 10.2% increase from $312,990 in December 2019.