RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its January 2020 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 January 2020, the report showed Reno/Sparks had 377 sales of existing single-family homes; with a 16 percent increase from last year and a 27 percent decrease from one month ago. The report listed the median sales price for an existing single-family residence in Reno/Sparks in January 2020 at $405,000; an increase of 12 percent from last year and an increase of 3 percent 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. The median sales price of an existing condominium/townhome in Reno/Sparks in January 2020 was $246,000; an increase of 33 percent from a year ago.
In January 2020, Reno (including North Valleys) had 253 sales of existing single-family homes; an increase of 6 percent from last year and a 30 percent decrease from the previous month. The median sales price in Reno for an existing single-family residence in January 2020 was $430,000; a 13 percent increase from January 2019, and a 6 percent increase from December 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 January 2020 in Reno was $255,750; a 46 percent increase from last year.
Sparks (including Spanish Springs) experienced 124 sales of existing single-family homes in January 2020; a 43 percent increase from January 2019 and a 22 percent decrease from December 2019. The Sparks median sales price for an existing single-family residence in January 2020 was $369,000; a 9 percent increase from January 2019 and a one percent increase from December 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 January 2020 in Sparks was $215,000; a 12 percent increase from last year.
The January 2020 report indicated that Fernley had 38 sales of existing single-family homes, an increase of 36 percent from January 2019 and a 10 percent decrease from December 2019. The median sales price in Fernley for an existing single-family residence in January 2020 was $275,250; a 6 percent increase from January 2019, and less than 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.
“Median prices are up from January last year, but we are also seeing a greater number of homes sold” said Erika Lamb, president of Reno/Sparks Association of Realtors and broker at Welcome Home Real Estate & Property Management. “January days to contract was down slightly to 69 days, telling us that properties are moving quickly. Inventory is still extremely low at 1.8 months of supply, which is why buyers are finding limitations with housing choices in the market.”
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.
###