Here we go again.

Reno housing reached another milestone as the median house price in the Biggest Little City broke the $420,000 mark for the first time. The median price for an existing single-family home in Reno reached $420,500 in May, according to the latest numbers from the Reno/Sparks Association of Realtors.

The number represents a 5% increase from the previous month and a 6% jump from the same period last year. It also breaks the all-time record set in June 2018 of $404,500.

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This is the sixth time that the median home price in Reno has reached the $400,000 mark. The city first broke the threshold in March of last year. Reno’s increase was enough to bring the combined median price for Reno-Sparks to a record high as well. The median price for an existing single-family home in Reno-Sparks in May was $390,000. The number just barely eclipses the previous record of $389,000, which was set in July.

Just recently in March, Reno-Sparks posted its first year-over-year drop in median price. House prices, however, have been on an upswing since then as the market heads toward the busy summer season.

Sparks, which includes Spanish Springs, posted a median home price of $352,100. The number falls short of the record set in July last year of $364,500.

“The median sales price for the Reno-Sparks area has continued to increase,” said RSAR President Angelica Reyes. “However we are still seeing areas around Reno and Sparks that are selling under the $350,000 mark.”

While the May median price is an all-time high for Reno-Sparks, it is still below the peak of the housing bubble when adjusted for inflation. In 2006, Reno-Sparks posted a median price of $365,000 in January, which is equivalent to about $470,370 in today’s dollars, according to the Bureau of Labor Statistics.

— This is a developing story and will be updated.

Jason Hidalgo covers business and technology for the Reno Gazette Journal, and also reviews video games as part of his Technobubble features. Follow him on Twitter @jasonhidalgo. Like this content? Support local journalism with an RGJ digital subscription.