Here’s the latest business news from around Northern Nevada, with Business Beat from the Northern Nevada Business Weekly.
Reno-Sparks Housing Prices Stay Steady In August
Housing costs in Reno-Sparks have been on the rise, but prices in August stayed relatively static.
The latest report from the Reno-Sparks Association of Realtors said the median price for a single-family home across Greater Reno-Sparks came in at $530,000 last month, which is the same as July, but still a nearly 20% increase from August 2020.
Prices in Sparks are actually down less than a percent from July’s record high of $500,000.
Cleaning Companies Find New Pandemic Demand, Challenges
When the COVID-19 pandemic began shutting down offices across Northern Nevada, CC Cleaning Services saw its clientele drop by about 28%.
However, by June of last year, the Reno-based commercial cleaning company started seeing a surge in interest in its services. Restaurants, gyms and warehouses wanted more than routine cleaning. They now wanted their spaces disinfected against COVID-19.
In all, CC Cleaning Services saw its revenue jump 30% last year, compared to 2019; however, other cleaning businesses are seeing declines in revenue due to a reduction in business from bars, restaurants and other businesses hardest hit by the pandemic.
Report: Industrial Market Keeping Carson City Economy Strong
While Northern Nevada continues to recover from the impacts of the COVID-19 pandemic, the Carson City economy is thriving thanks to its industrial market.
A commercial real estate study conducted by NAI Alliance shows that industrial vacancies in Nevada’s capital city are at 3.8%, which is lower than the national rate of 5.8% and down significantly from the 21.5% rate the city had in 2009.
The report states that the industrial market is often viewed as the first segment to slow down or pick back up ahead of overall economic trends.
Kaleb Roedel is a KUNR contributor and reporter with the Northern Nevada Business Weekly. For more business news, check out the Northern Nevada Business Weekly at nnbw.com or in print on Wednesdays.