According to the recently published Market Report by the Reno Sparks Association of REALTORS, the median sales price for single family homes in the Reno/Sparks area  in September 2012 was up 1.7% to $178,000 compared to $175,000 in August, 2012. Comparing September 2012 to the same period in 2011, the median sales price is up 19.5%. The median price is defined as the mid-point, where, for the time period identified, the price for one-half of the sales are higher and one-half are lower.

The report also indicated that the volume of sales is down, and this is true. The number of housing units sold in September was 463, down 12.5% from August 2012, and down 19.5% from September 2011. However, the reduced volume of sales is more related to the lack of…

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