Here’s the latest business news from around Northern Nevada, with Business Beat from the Northern Nevada Business Weekly.
Reno Housing Reaches $530k Median Sales Price
As the temperatures stay hot in Northern Nevada, so does the housing market. According to the latest report from the Reno-Sparks Association of REALTORS, the median sales price for an existing single-family home in Reno was $550,000 in June. In Sparks, the median sales price was almost $500,000.
The housing market in greater Reno-Sparks is so hot right now that of the 634 houses listed in June, only one is still on the market.
Read more about the Reno-Sparks housing market at nnbw.com.
Land-Based Salmon Farm Moving Forward
Despite this year’s severe drought, a land-based salmon farm planned for rural Northern Nevada is still in the works.
The project will live near the Humboldt-Pershing county line. It will rely on a deep water table that a spokesperson says shouldn’t be impacted by drought.
Three pivots currently irrigating alfalfa will disappear when construction of the salmon farm begins, which could be as early as this year.
Read more about the salmon farm project at nnbw.com.
Pandemic Took Local Businesses To The Cleaners
The pandemic led to a rise in remote work and much more casual work attire. And that could mean a tough road ahead for local dry cleaners.
Bobby Page’s Dry Cleaners in South Reno says they handle about 4,500 pieces of clothing a day. But last year, that wasn’t the case. As the number of clothing items drastically shrank, the company was forced to close 10 of its Northern Nevada locations, including four in Reno-Sparks.
It’s not just a local issue. According to the trade association Drycleaning & Laundry Institute, dry cleaners nationwide lost about 80% of their revenue after pandemic closures began.
Read more about the pandemic's impact to dry cleaners at nnbw.com.
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.
Correction: The original version of this story incorrectly stated that the median sales price in Reno was $530,000. That is for the greater Reno-Sparks market. Reno's median sales price was $550,000 in June. The story also stated that the 633 out of 634 homes sold were in Reno. That is Reno-Sparks. This story has been updated with the correct information.
