The Reno/Sparks Association of REALTORS® (RSAR) has released its December 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 December, RSAR saw…
Home prices remained strong, with a median price near $450,000.
The number of new listings continued to decline.
Homes sold quickly, with an average of 31 days from listing to a signed contract for sale.
“The combination of a strong local economy and low interest rates continue to support an exceptionally strong housing market. The available properties for sale represents days of supply versus what a normal inventory of six months of supply would be. We encourage buyers to act quickly when they identify that special home.” said Gary MacDonald, President of the Reno/Sparks Association of REALTORS®.
Members of the Reno/Sparks Association are working closely with buyers to ensure that they make their best offer from the start because back-and-forth negotiation is rare with such small inventories of homes for sale.
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 December 2020, Reno/Sparks had 538 sales of existing single-family homes, an increase of 4.1 percent from last year and a 5.4 percent decrease from the previous month.
The median sales price for an existing single-family residence in Reno/Sparks was $449,600, an increase of 14.1 percent from last year and a decline of less than 1 percent from the previous month.
The median sales price of an existing condominium/townhome in Reno/Sparks in December 2020 was $273,731, a decrease of less than 1 percent from last year.
Reno (including North Valleys)
In December 2020, Reno (including North Valleys) had 387 sales of existing single-family homes, an increase of 7.8 percent from last year and a 3 percent decrease from the previous month.
The median sales price for an existing single-family residence was $500,000, an increase of 23.5 percent from last year and a 4.2 percent increase from the previous month.
The existing condominium/townhome median sales price in December 2020 was $290,000, an increase of 4.3 percent from last year.
Sparks (including Spanish Springs)
In December 2020, Sparks (including Spanish Springs) had 151 sales of existing single-family homes, a decrease of 4.4 percent from last year and 11.2 percent decrease from the previous month.
The median sales price for an existing single-family residence was $405,000, an increase of 10.4 percent from last year and a 1.4 percent decrease from the previous month.
The existing condominium/townhome median sales price for December 2020 was $225,000, a decrease of 5.5 percent from last year.
Fernley
In December 2020, Fernley had 61 sales of existing single-family homes, a 45.2 percent increase from last year and a 15.1 percent increase from the previous month.
The median sales price for an existing single-family residence was $305,000, an increase of 10.9 percent from last year and a 1 percent increase from the previous month.
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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.
