The Reno/Sparks Association of REALTORS® (RSAR) today released its June 2021 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 June, RSAR saw…
Continued strong price increases in the Reno/Sparks region, as the median price of an existing home rose by 5.7 percent from the previous month.
Transaction volumes that ran ahead of last year’s figures, driven largely by strong growth in closed sales in Reno, including the North Valleys.
A sharp increase in transactions and prices in the Fernley area.
“Tight inventories of homes for sale continue to define the current market,” said Gary MacDonald, President of the Reno/Sparks Association of REALTORS®. “While 633 existing homes were sold during the month, 634 were listed for sale. With the low supply of homes for sale, buyers need to be vigilant in their home search.”
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With very high demand for homes, Realtors are helping sellers decide whether it makes financial sense to undertake home improvements before putting a home up for sale, and helping buyers who are in the market to upsize into a bigger home to avoid common mistakes when they begin their search.
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 June 2021, Reno/Sparks had 633 sales of existing single-family homes, an increase of 12 percent from last year and a 17.2 percent increase from the previous month.
The median sales price for an existing single-family residence in Reno/Sparks was $530,000, an increase of 30.2 percent from last year and a 5.7 percent increase from the previous month.
The median sales price of an existing condominium/townhome in Reno/Sparks in June 2021 was $276,000, an increase of 17.4 percent from last year.
Reno (including North Valleys)
In June 2021, Reno (including North Valleys) had 459 sales of existing single-family homes, an increase of 20.8 percent from last year and a 24.7 percent increase from the previous month.
The median sales price for an existing single-family residence was $550,000, an increase of 32.5 percent from last year and unchanged from the previous month.
The existing condominium/townhome median sales price in June 2021 was $278,000, an increase of 5.9 percent from last year.
Sparks (including Spanish Springs)
In June 2021, Sparks (including Spanish Springs) had 174 sales of existing single-family homes, a decrease of 5.9 percent from last year and 1.2 percent increase from the previous month.
The median sales price for an existing single-family residence was $481,750, an increase of 22 percent from last year and a 6.1 percent increase from the previous month.
The existing condominium/townhome median sales price for June 2021 was $260,000, an increase of 28.1 percent from last year.
Fernley
In June 2021 Fernley had 72 sales of existing single-family homes, a 35.8 percent increase from last year and a 46.9 percent increase from the previous month.
The median sales price for an existing single-family residence was $358,250, an increase of 29.3 percent from last year and a 1.6 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.
