RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its October 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 October 2019, the report showed Reno-Sparks had 546 sales of existing single-family homes; an increase of 17 percent from October 2018 and a 5 percent decrease from one month ago, September 2019. The report listed the median sales price for an existing single-family residence in Reno-Sparks in October 2019 at $399,995; a 4 percent increase from October 2018 and a 1 percent increase from September 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 October 2019 was $235,000; an 18 percent increase from a year ago.
In October 2019, Reno (including North Valleys) had 409 sales of existing single-family homes; an increase of 24 percent from last year and less than one percent increase from the previous month. The median sales price in Reno for an existing single-family residence in October 2019 was $415,000; a 3 percent increase from October 2018, and a 3 percent increase from September 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 October 2019 in Reno was $275,000; a 26 percent increase from last year.
Sparks (including Spanish Springs) experienced 137 sales of existing single-family homes in October 2019; a 1 percent decrease from October 2018 and an 18 percent decrease from September 2019. The Sparks median sales price for an existing single-family residence in October 2019 was $365,000; a 4 percent increase from October 2018 and a 4 percent decrease from September 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 October 2019 in Sparks was $182,250; an 8 percent decrease from last year.
The October 2019 report indicated that Fernley had 51 sales of existing single-family homes, an increase of 11 percent from October 2018 and a 28 percent increase from September 2019. The median sales price in Fernley for an existing single-family residence in October 2019 was $263,000; a 2 percent increase from October 2018, and a 2 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.
“It’s customary, as we start heading into the cooler months, to see inventory and sales go down slightly” said REALTOR® Angelica Reyes, 2019 RSAR president and managing broker for The Right Choice Realty. “Although prices are still on the rise, the trend is staying the same year over year.”
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.