New data released by Sierra Nevada Realtors reveals a significant uptick in housing prices across northern Nevada during the first month of 2024, reflecting continued demand and a dynamic real estate market in the region.
Robert Bartshe, 2024 President of Sierra Nevada Realtors, highlighted the positive trend, stating, “The start of 2024 showed us some gains in the market compared to January 2023.”
Bartshe noted that the median sales price for housing in the region reached $501,495, marking a notable increase of 4.5 percent compared to the same period last year. Additionally, new listings surged by 14.5 percent, with closings up by 14.3 percent compared to January 2023.
Storey County experienced a remarkable increase in sales of existing single-family homes, with four sales representing a 100 percent rise from the previous month. The median sales price for existing single-family residences in Storey County reached $520,000, reflecting a 13.2 percent increase from last month, albeit with a 23.8 percent decrease from last year.
In Lyon County, which encompasses both manufactured and single-family residences, January saw 68 sales of existing properties, marking a slight decrease of 10.5 percent from the previous month but a robust increase of 38.8 percent from January 2023. The median sales price for existing manufactured and single-family residences stood at $367,500, showing a modest decrease from the previous month but a 2.4 percent increase in 2023.
Churchill County recorded 22 new listings in January, reflecting a 15.8 percent increase from the previous month. The median sales price for existing single-family residences in the county rose to $382,500, indicating a 4.9 percent increase from last month and a notable 13 percent increase from the previous year.
Douglas County witnessed a surge in sales, with 47 transactions of existing single-family homes, representing an 11.9 percent increase from the previous month and an impressive 62.1 percent increase from January 2023. The median sales price for existing single-family residences in Douglas County reached $773,817, reflecting double-digit increases monthly and annually.
In Carson City, however, there was a slight downturn in housing prices, with the median sales price for existing single-family residences dropping to $500,000 in January. Despite this decrease, sales increased by 47.6 percent from January 2023, signaling sustained activity in the local housing market.
Washoe County, excluding Incline Village, experienced mixed trends, with a decrease in the median sales price for existing single-family residences but an increase in condo/townhome prices. The median sales price for existing single-family homes dropped to $535,000, while the median sales price for condos/townhomes rose to $345,000, indicating a seven percent increase from the previous year.
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