Top Market insights
RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its August 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 August, RSAR saw…
● Home prices ticked up by only 1 percent over the previous month, the third consecutive month of slowing price increases.
● Homes continued to sell very rapidly, going under contract an average of 16 days after they were listed for sale.
● The inventory of homes for sale — 511 homes — was up by 3 percent from July.
“As prices continue to stabilize and wages in the region begin to trend upward, home ownership becomes more attainable,” said Gary MacDonald, President of the Reno/Sparks Association of REALTORS®. “It appears that the housing market in our region is moving toward improved balance.”
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As prices steady out and the market remains strong, Reno/Sparks finally hit a full month of inventory. Hiring a Realtor can benefit homebuyers looking to enter into the strong market and find the house of their dreams.
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 August 2021, Reno/Sparks had 552 sales of existing single-family homes, a decrease of 16 percent from last year and a 14 percent decrease from the previous month.
● The median sales price for an existing single-family residence in Reno/Sparks was $530,000, an increase of 19.8 percent from last year and a 1 percent increase from the previous month.
● The median sales price of an existing condominium/townhome in Reno/Sparks in August 2021 was $330,000, an increase of 31.1 percent from last year.
Reno (including North Valleys)
● In August 2021, Reno (including North Valleys) had 380 sales of existing single-family homes, a decrease of 14.2 percent from last year and a 13.8 percent decrease from the previous month.
● The median sales price for an existing single-family residence was $553,500, an increase of 18 percent from last year and an increase of less than 1 percent from the previous month.
● The existing condominium/townhome median sales price in August 2021 was $350,000, an increase of 37.3 percent from last year.
Sparks (including Spanish Springs)
● In August 2021, Sparks (including Spanish Springs) had 172 sales of existing single-family homes, a decrease of 20 percent from last year and a decline of 13.6 percent from the previous month.
● The median sales price for an existing single-family residence was $496,950, an increase of 19.7 percent from last year and a decrease of less than 1 percent from the previous month.
● The existing condominium/townhome median sales price for August 2021 was $310,000, an increase of 37.8 percent from last year.
Fernley
● In August 2021, Fernley had 64 sales of existing single-family homes, a 12.3 percent increase from last year and a 7.2 percent decrease from the previous month.
● The median sales price for an existing single-family residence was $357,300, an increase of 19.1 percent from last year and an increase of less than 1 percent 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.
