RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its 2019 fourth quarter and December 2019 reports 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).
Fourth Quarter 2019
Reno/Sparks
In the fourth quarter of 2019, the report showed Reno/Sparks had 1,516 sales of existing single-family homes; with a 15 percent increase from last year and a 16 percent decrease from the previous quarter. The report listed the median sales price for an existing single-family residence in Reno/Sparks in 2019’s fourth quarter at $399,000; an increase of 6 percent from last year and a decrease of less than 1 percent from 2019’s third quarter. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The median sales price of an existing condominium/townhome in Reno/Sparks in the fourth quarter of 2019 was $226,000; an increase of 16 percent from a year ago.
Reno (including North Valleys)
During the 2019 fourth quarter, Reno (including North Valleys) had 1,088 sales of existing single-family homes; an increase of 19 percent from last year and a 15 percent decrease from the third quarter of 2019. The median sales price in Reno for an existing single-family residence in the fourth quarter of 2019 was $410,000; an increase of 4 percent from last year and a 1 percent decrease from the previous quarter. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for the fourth quarter of 2019 was $248,500; an increase of 24 percent from the past year.
Sparks (including Spanish Springs)
Sparks (including Spanish Springs) had 428 sales of existing single-family homes in 2019’s fourth quarter; an increase of 5 percent from last year and a 20 percent decrease from the previous quarter. The Sparks median sales price for an existing single-family residence in the fourth quarter of 2019 was $368,500; an increase of 5 percent from last year and a decrease of 3 percent from the previous quarter. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for 2019’s fourth quarter in Sparks was $200,000; an increase of 7 percent from last year.
Fernley
The 2019 fourth quarter report showed Fernley had 140 sales of existing single-family homes; with a 5 percent increase from the same time last year and a 4 percent decrease from 2019’s third quarter. The median sales price in Fernley for an existing single-family residence in 2019’s fourth quarter was $270,000; a 4 percent increase from last year and a 1 percent increase from the previous quarter. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes.
December 2019
Reno/Sparks
During December 2019, the report showed Reno/Sparks had 501 sales of existing single-family homes; an increase of 30 percent from December 2018 and an increase of 11 percent from November 2019. The report listed the median sales price for an existing single-family residence in Reno/Sparks in December 2019 at $393,000; an 8 percent increase from last year and a 2 percent decrease from the previous month. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The median sales price of an existing condominium/townhome in Reno/Sparks in December 2019 was $220,000; an increase of 10 percent from last year.
Reno (including North Valleys)
In December 2019, Reno (including North Valleys) had 349 sales of existing single-family homes; an increase of 35 percent from last year and a 9 percent increase from November 2019. The median sales price in Reno for an existing single-family residence in December 2019 was $405,000; an increase of 7 percent from December 2018 and a 2 percent decrease from the previous month. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for December 2019 in Reno was $230,000; an increase of 9 percent from last year.
Sparks (including Spanish Springs)
Sparks (including Spanish Springs) had 152 sales of existing single-family homes in December 2019; an increase of 20 percent from last year and a 15 percent increase from the previous month. The Sparks median sales price for an existing single-family residence in December 2019 was $367,000; an increase of 6 percent from last year and a 1 percent decrease from the previous month. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for December 2019 in Sparks was $200,000; an increase of 9 percent from last year.
Fernley
The December 2019 report indicated that Fernley had 40 sales of existing single-family homes; a 9 percent decrease from last year and a 17 percent decrease from the previous month. The median sales price in Fernley for an existing single-family residence in December 2019 was $275,000; an increase of 6 percent from December 2018 and a 1 percent increase from last month. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes.
“We ended 2019 stronger than we ended 2018 with an 8 percent increase in price,” said Erika Lamb, president of the Reno/Sparks Association of REALTORS® and broker at Welcome Home Real Estate & Property Management. “December 2019 sales totaled 501 units, up 30 percent from December 2018. The local market is still a seller’s market, with just 1.6 months’ supply of inventory, the lowest it’s been all 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.