RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its April 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 April 2019, the report showed Reno-Sparks had 519 sales of existing single-family homes; an increase of 6 percent from April 2018 and a 14 percent increase from one month ago, March 2019. The report listed the median sales price for an existing single-family residence in Reno-Sparks in April 2019 at $377,000; a 1 percent increase from April 2018 and a two percent increase from March 2019. 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 April 2019 was $242,000; a 26 percent increase from a year ago.
In April 2019, Reno (including North Valleys) had 357 sales of existing single-family homes; an increase of 5 percent from last year and a 25 percent increase from the previous month. The median sales price in Reno for an existing single-family residence in April 2019 was $400,000; a 4 percent increase from April 2018, and a 3 percent increase from March 2019. 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 April 2019 in Reno was $256,000; a 15 percent increase from last year.
Sparks (including Spanish Springs) experienced 162 sales of existing single-family homes in April 2019; a 7 percent increase from April 2018 and a 5 percent decrease from March 2019. The Sparks median sales price for an existing single-family residence in April 2019 was $339,950; a 5 percent decrease from April 2018 and a 3 percent decrease from March 2019. 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 April 2019 in Sparks was $179,900; a six percent increase from last year.
The April 2019 report indicated that Fernley had 55 sales of existing single-family homes, a decrease of 4 percent from April 2018 and a 17 percent increase from March 2019. The median sales price in Fernley for an existing single-family residence in April 2019 was $265,000; a 7 percent increase from April 2018, and a 2 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.
“The increase in median price and unit sales from April shows that our market is gaining momentum and people are ready to either move up into larger homes or begin downsizing based on family needs,” said REALTOR® Angelica Reyes, , 2019 RSAR president and managing broker for The Right Choice Realty. “We are optimistic that our months’ supply of inventory will increase now that we are headed into the spring and summer.”
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.