RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its May 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 May 2019, the report showed Reno-Sparks had 651 sales of existing single-family homes; an increase of 13 percent from May 2018 and a 23 percent increase from one month ago, April 2019. The report listed the median sales price for an existing single-family residence in Reno-Sparks in May 2019 at $390,000; a 4 percent increase from May 2018 and a four percent increase from April 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 May 2019 was $216,000; an 11 percent increase from a year ago.
In May 2019, Reno (including North Valleys) had 450 sales of existing single-family homes; an increase of 9 percent from last year and a 23 percent increase from the previous month. The median sales price in Reno for an existing single-family residence in May 2019 was $420,500; a 6 percent increase from May 2018, and a 5 percent increase from April 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 May 2019 in Reno was $229,000; a 27 percent increase from last year.
Sparks (including Spanish Springs) experienced 201 sales of existing single-family homes in May 2019; a 23 percent increase from May 2018 and a 21 percent increase from April 2019. The Sparks median sales price for an existing single-family residence in May 2019 was $352,100; a 1 percent decrease from May 2018 and a 4 percent increase from April 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 May 2019 in Sparks was $211,450; a 21 percent decrease from last year.
The May 2019 report indicated that Fernley had 53 sales of existing single-family homes, a decrease of 4 percent from May 2018 and a 4 percent decrease from April 2019. The median sales price in Fernley for an existing single-family residence in May 2019 was $275,000; an 8 percent increase from May 2018, and a 4 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 median sales price for the Reno/Sparks area has continued to increase, however we are still seeing areas around Reno and Sparks that are selling under the $350,000 mark,” said REALTOR® Angelica Reyes, 2019 RSAR president and managing broker for The Right Choice Realty. “The indicator that we are keeping a close eye on, is our inventory numbers. Our inventory is up 11% from April and that’s good news for buyers wanting more options.”
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.