The Reno/Sparks Association of REALTORS® (RSAR) today released its August 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 August, RSAR saw…
- A median sales price of $444,900 for a single-family home in the region.
- An increase topping 20 percent in the median sales price of condos and townhomes
- Strong sales and price increases in the Fernley area.
“This is one of the best times in recent history for homeowners to list their homes for sale,” said Erika Lamb, REALTOR and President of the Reno/Sparks Association of REALTORS®. “Demand is strong, inventory is low and buyers are eager to take advantage of very low mortgage interest rates.”
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As homeowners look to take advantage of strong prices to list their homes for sale, members of the Reno/Sparks Association of REALTORS® are working closely with sellers to take the steps that ensure they get the best possible price.
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 2020, Reno/Sparks had 644 sales of existing single-family homes, a decrease of 3.2 percent from last year and a 13.4 percent decrease from the previous month.
- The median sales price for an existing single-family residence in Reno/Sparks was $444,900, an increase of 11.5 percent from last year and a 2.4 percent increase from the previous month.
- The existing condominium/townhome median sales price of an existing condominium/townhome in Reno/Sparks in August 2020 was $248,255 an increase of 20.2 percent from last year.
Reno (including North Valleys)
- In August 2020, Reno (including North Valleys) had 432 sales of existing single-family homes, a slight increase of 0.2 percent from last year and a 12.2 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $469,000, an increase of 14.4 percent from last year and a 2.5 percent increase from July.
- The existing condominium/townhome median sales price in August 2020 was $254,500, an increase of 22.1 percent from last year.
Sparks (including Spanish Springs)
- In August 2020, Sparks (including Spanish Springs) had 212 sales of existing single-family homes, an increase of 9.8 percent from last year and a 15.9 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $415,000, an increase of 9.2 percent from last year. The median sales price was unchanged from the July figure.
- The existing condominium/townhome median sales price for August 2020 was $222,450, an increase of 8.5 percent from last year.
Fernley
- In August 2020, Fernley had 55 sales of existing single-family homes, a 10 percent increase from last year and a 3.8 percent increase from the previous month.
- The median sales price for an existing single-family residence was $299,900, an increase of 13.2 percent from last year and a 6.7 percent increase from July.
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
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