RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its October 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 October, RSAR saw…
The median price of an existing home stood at $540,000, up 1.9 percent from the previous month.
Newly listed homes were under contract an average of nine days after hitting the market.
The 540 homes on the market represented less than one month of inventory at the current pace of sales.
“The market appears to be moving steadily into better balance,” said Gary MacDonald, President of the Reno/Sparks Association of REALTORS®. “Although inventories remain quite tight, price increases generally have been modest since mid-summer.”
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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 October 2021, Reno/Sparks had 565 sales of existing single-family homes, a decrease of 10.5 percent from last year and a 4.7 percent decrease from the previous month.
The median sales price for an existing single-family residence in Reno/Sparks was $540,000, an increase of 18.6 percent from last year and a 1.9 percent increase from the previous month.
The median sales price of an existing condominium/townhome in Reno/Sparks in October 2021 was $298,750, an increase of 16.7 percent from last year.
Reno (including North Valleys)
In October 2021, Reno (including North Valleys) had 390 sales of existing single-family homes, a decrease of 12.4 percent from last year and a 5.6 percent decrease from the previous month.
The median sales price for an existing single-family residence was $550,000, an increase of 13.4 percent from last year and unchanged from the previous month.
The existing condominium/townhome median sales price in October 2021 was $315,000, an increase of 10.5 percent from last year.
Sparks (including Spanish Springs)
In October 2021, Sparks (including Spanish Springs) had 175 sales of existing single-family homes, a decrease of 5.9 percent from last year and 2.8 percent decrease from the previous month.
The median sales price for an existing single-family residence was $498,000, an increase of 21 percent from last year and a 1.4 percent decrease from the previous month.
The existing condominium/townhome median sales price for October 2021 was $268,000, an increase of 12.8 percent from last year.
Fernley
In October 2021, Fernley had 44 sales of existing single-family homes, a 27 percent decrease from last year and a 20 percent decrease from the previous month.
The median sales price for an existing single-family residence was $359,950, an increase of 13.3 percent from last year and a 2.7 percent decrease 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.