Listing prices for Reno homes surge nearly 30%

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According to Realtor.com’s latest Monthly Housing Summary the list prices for homes across the country increased 7.57 percent year-over-year in October. Of the 146 markets tracked by Realtor.com 85 percent reported year-over-year increases — with many showing gains of 20 percent or more; and even a few with increases of 30 to 40+ percent.

Reno, Nevada ranked 4th nationwide amongst housing markets with the largest increase in list price. Reno’s median list price increased 29.29 percent year-over-year.

The Realtor.com report also showed Reno’s median list price for October was $258,577. To compare these numbers to actual sold homes in October, Reno’s median sales price was $215,000, for a year-over-year increase of 19.4 percent.

What other markets showed the largest gains in list prices? Here are the top-ten…

Search Ranking Area / Region Median List Prices Total Listings Median Age of Inventory
United States $199,000 7.57% -0.25% 1,905,064 -1.51% -0.71% 94 -11.32% 1.08%
RANK City $ YY MM # YY MM # YY MM
1 Detroit, MI $129,900 44.33% -2.33% 16,509 -15.00% 2.48% 52 -18.75% 8.33%
2 Stockton-Lodi, CA $245,000 40.80% 2.13% 1,385 21.92% -7.17% 48 37.14% 6.67%
3 Santa Barbara-Santa Maria-Lompoc, CA $799,000 33.39% 1.65% 1,103 -25.22% -6.68% 73 -21.51% 4.29%
4 Reno, NV $258,577 29.29% -0.26% 2,636 -13.43% 0.00% 77 -26.67% 1.32%
5 Melbourne-Titusville-Palm Bay, FL $165,990 27.78% 0.60% 3,769 -31.24% 3.01% 68 -32.00% 6.25%
6 Fresno, CA $229,900 24.34% 2.18% 2,655 15.38% -2.53% 59 5.36% 5.36%
7 Las Vegas, NV-AZ(NV) $164,999 24.33% -2.88% 18,723 -12.78% 1.90% 80 -16.67% 5.26%
8 Oakland, CA $475,000 24.27% -1.03% 3,796 26.66% -0.68% 30 11.11% 7.14%
9 Phoenix-Mesa, AZ $237,900 22.00% 1.23% 19,751 14.38% 12.86% 50 0.00% 0.00%
10 San Diego, CA $449,900 21.92% -0.02% 8,890 -8.72% 0.32% 57 -17.39% 3.64%
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