The Reno/Sparks Association of REALTORS® (RSAR) today released its January 2019 report on existing home sales in Reno, Sparks and Fernley, including median sales price and number of home sales in the region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).
During January 2019, the report showed Reno-Sparks had 317 sales of existing single-family homes; a decrease of 22 percent from January 2018 and a 17 percent decrease from one month ago, December 2018. The report listed the median sales price for an existing single family residence in Reno-Sparks in January 2019 at $362,000; an increase of 1 percent from January 2018 and a 1 percent decrease from December 2018. All sales numbers are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The median sales price of existing condominium/townhomes in Reno-Sparks in January 2019 was $183,500; a 5 percent increase from a year ago.
In January 2019, Reno (including North Valleys) had 232 sales of existing single-family homes; a decrease of 20 percent from last year and a 10 percent decrease from the previous month. The median sales price in Reno for an existing single-family residence in January 2019 was $377,700; a 4 percent increase from January 2018, and a 1 percent decrease from December 2018. All sales numbers are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for January 2019 in Reno was $174,000; a1 percent decrease from last year.
Sparks (including Spanish Springs) experienced 85 sales of existing single-family homes in January 2019; a 26 percent decrease from January 2018 and a 33 percent decrease from December 2018. The Sparks median sales price for an existing single-family residence in January 2019 was $339,000; a 2 percent decrease from January 2018 and a 2 percent decrease from December 2018. All sales numbers are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for January 2019 in Sparks was $192,000; a 15 percent increase from last year.
The January 2019 report indicated that Fernley had 24 sales of existing single-family homes, a decrease of 43 percent from January 2018 and a 46 percent decrease from December 2018. The median sales price in Fernley for an existing single-family residence in January 2019 was $260,500; an 8 percent increase from January 2018, and less than 1 percent increase from last month. All sales numbers are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes.
“January’s unit sales were down 22 percent from the same time last year,” said Angelica Reyes, 2019 RSAR president and REALTOR with The Right Choice Realty. “The Reno market is still a seller’s market, at three-months supply of inventory. There was a sharp increase in listings in January 2019, compared to December 2018, which is a good sign for the market.”
The Reno/Sparks Association of REALTORS® is an organization providing services to its members to ensure their success as real estate professionals, as well as protecting and promoting the consumer’s dream of homeownership. For more information visit www.rsar.net.