RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its December 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 December, RSAR saw…
The median price of an existing single-family home in the region edged up slightly to $545,000.
The inventory of homes available for purchase fell by 36 percent from the previous month, reflecting the normal holiday slowdown.
Homes were under contract an average of only 15 days after they were listed for sale.
“Despite rising mortgage interest rates, the residential real estate market in Reno, Sparks and Fernley remains vibrant,” said Sarah Scattini, President of the Reno/Sparks Association of REALTORS®. “Strong demand from buyers and continued tight inventories of homes for sale support a sellers’ market.”
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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 December 2021, Reno/Sparks had 520 sales of existing single-family homes, a decrease of 6.3 percent from last year and a 4.6 percent decrease from the previous month.
The median sales price for an existing single-family residence in Reno/Sparks was $545,000, an increase of 21.2 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 December 2021 was $315,500, an increase of 15.6 percent from last year.
Reno (including North Valleys)
In December 2021, Reno (including North Valleys) had 370 sales of existing single-family homes, a decrease of 6.3 percent from last year and an increase of less than 1 percent from the previous month.
The median sales price for an existing single-family residence was $550,000, an increase of 11 percent from last year and a 2.1 percent decrease from the previous month.
The existing condominium/townhome median sales price in December 2021 was $329,000, an increase of 13.4 percent from last year.
Sparks (including Spanish Springs)
In December 2021, Sparks (including Spanish Springs) had 150 sales of existing single-family homes, a decrease of 6.3 percent from last year and 15.7 percent decrease from the previous month.
The median sales price for an existing single-family residence was $521,750, an increase of 29.5 percent from last year and a 4.4 percent increase from the previous month.
The existing condominium/townhome median sales price for December 2021 was $283,500, an increase of 26 percent from last year.
Fernley
In December 2021, Fernley had 53 sales of existing single-family homes, a 17.2 percent decrease from last year and unchanged from the previous month.
The median sales price for an existing single-family residence was $360,000, an increase of 16.8 percent from last year and a 1.4 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 info, visit https://www.rsar.net.