The Reno/Sparks Association of REALTORS® (RSAR) today released its April 2020 report on existing home sales in Reno/Sparks and Fernley, including median sales price and the number of home sales in the region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service.
During the month of April, RSAR saw:
A slight increase in median price for the Reno/Sparks area.
Units sold were down due in part to extended closing times to allow for the extra precautions necessary during the Stay Home for Nevada directives.
Accepted offers were within 98.9 percent of asking price, indicating property values remain strong.
“Real estate agents have adapted to the necessary Stay at Home for Nevada directives by increasing the use of virtual showings of homes in April. Currently, there are 457 active listings in the Reno-Sparks area providing virtual tours to potential buyers,” said Erika Lamb, President of the Reno/Sparks Association of REALTORS® and Broker of Welcome Home Real Estate & Property Management. “People are continuing to buy and sell homes in Nevada and it’s our goal to ensure they do so safely.”
Click here for Market Insights.
RSAR released a Coronavirus Advisory for clients regarding listing and viewing property while maintaining social distancing guidelines. REALTORS understand the importance of flattening the curve as well as the value of homeownership and are using cutting edge technology to meet both.
More information, divided by region, is provided below. All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes unless otherwise stated.
Reno/Sparks
In April 2020, Reno/Sparks had 374 sales of existing single-family homes: a decrease of 39.8 percent from last year and a 26.2 percent decrease from the previous month.
The median sales price for an existing single-family residence in Reno/Sparks was $416,500; an increase of 10.5 percent from last year and a .4 percent increase from the previous month.
The existing condominium/townhome median sales price of an existing condominium/townhome in Reno/Sparks in April 2020 was $230,000; a decrease of 5 percent from last year.
Reno (including North Valleys)
In April 2020, Reno (including North Valleys) had 252 sales of existing single-family homes: a decrease of 31 percent from last year and a 30.4 percent decrease from the previous month.
The median sales price for an existing single-family residence was $439,500; an increase of 9.9 percent from last year and a 2.2 percent increase from the previous month.
The existing condominium/townhome median sales price in April 2020 was $245,000; a decrease of 4.3 percent from last year.
Sparks (including Spanish Springs)
In April 2020, Sparks (including Spanish Springs) had 122 sales of existing single-family homes: a decrease of 27.4 percent from last year and a 15.9 percent decrease from the previous month.
The median sales price for an existing single-family residence was $386,450; an increase of 13.7 percent from last year and a .7 percent decrease from the previous month.
The existing condominium/townhome median sales price for April 2020 was $211,500; an increase of 17.9 percent from last year.
Fernley
In April 2020, Fernley had 38 sales of existing single-family homes: a 33.3 percent decrease from last year and a 24 percent decrease from the previous month.
The median sales price for an existing single-family residence was $273,450; an increase of 1.7 percent from last year and a 2.4 percent decrease from the previous month.
###
About the Reno/Sparks Association of REALTORS® (RSAR):
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 rsar.realtor.