RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its August 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 September 2019, the report showed Reno-Sparks had 561 sales of existing single-family homes; an increase of 22 percent from September 2018 and a 10 percent decrease from one month ago, August 2019. The report listed the median sales price for an existing single-family residence in Reno-Sparks in September 2019 at $395,000; a 6 percent increase from September 2018 and a 1 percent decrease from August 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 September 2019 was $213,000; less than 1 percent increase from a year ago.
In September 2019, Reno (including North Valleys) had 398 sales of existing single-family homes; an increase of 25 percent from last year and a 7 percent decrease from the previous month. The median sales price in Reno for an existing single-family residence in September 2019 was $404,975; a 4 percent increase from September 2018, and a 2 percent decrease from August 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 September 2019 in Reno was $231,500; a 2 percent decrease from last year.
Sparks (including Spanish Springs) experienced 163 sales of existing single-family homes in September 2019; a 15 percent increase from September 2018 and a 14 percent decrease from August 2019. The Sparks median sales price for an existing single-family residence in September 2019 was $377,500; a 9 percent increase from September 2018 and less than a 1 percent decrease from August 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 September 2019 in Sparks was $195,000; a 2 percent decrease from last year.
The September 2019 report indicated that Fernley had 39 sales of existing single-family homes, a decrease of 38 percent from September 2018 and a 22 percent decrease from August 2019. The median sales price in Fernley for an existing single-family residence in September 2019 was $268,000; an 11 percent increase from September 2018, and a one 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.
“While we saw a slight decline from August, the Reno/Sparks median price is still six percent higher than we were at this time last year.” said REALTOR® Angelica Reyes, 2019 RSAR president and managing broker for The Right Choice Realty. “We are still seeing low inventory at only two months’ supply and a balanced market is right around six months.”
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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