RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its July 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 July 2019, the report showed Reno-Sparks had 590 sales of existing single-family homes; an increase of 4 percent from July 2018 and a 4 percent increase from one month ago, June 2019. The report listed the median sales price for an existing single-family residence in Reno-Sparks in July 2019 at $405,000; a 5 percent increase from July 2018 and a 1 percent increase from June 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 July 2019 was $223,500; a 15 percent increase from a year ago.
In July 2019, Reno (including North Valleys) had 423 sales of existing single-family homes; an increase of 11 percent from last year and a 4 percent increase from the previous month. The median sales price in Reno for an existing single-family residence in July 2019 was $420,000; a 5 percent increase from July 2018, and a 2 percent increase from June 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 July 2019 in Reno was $258,500; a 26 percent increase from last year.
Sparks (including Spanish Springs) experienced 167 sales of existing single-family homes in July 2019; a 9 percent decrease from July 2018 and a 7 percent increase from June 2019. The Sparks median sales price for an existing single-family residence in July 2019 was $380,000; a 5 percent increase from July 2018 and a 2 percent increase from June 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 July 2019 in Sparks was $203,000; a 9 percent increase from last year.
The July 2019 report indicated that Fernley had 53 sales of existing single-family homes, a decrease of 2 percent from July 2018 and a 15 percent decrease from June 2019. The median sales price in Fernley for an existing single-family residence in July 2019 was $265,100; a 5 percent increase from July 2018, and less than one percent decrease 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.
“July was still a seller’s market with 2.3 months’ supply of inventory and the Reno/Sparks median home price setting at $405,000,” said REALTOR® Angelica Reyes, 2019 RSAR president and managing broker for The Right Choice Realty. “While the last two months have been above the $400,000 mark, the median sold price for the first six months of 2019 is at $385,000.”
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.
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