The Reno/Sparks Association of REALTORS® (RSAR) today released its September 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 September, RSAR saw…
- Continued strong sales volumes as transactions were up by 17.4 percent from last year.
- A slight decrease (1.1 percent) in the median sales price compared with August; the dip is less than historical dips for the season change.
- Strong price increases for condominiums and townhomes across Reno and Sparks.
“This remains a robust sellers’ market as the inventory of homes for sale in Reno and Sparks is currently less than a one-month supply, while the national average is a four-month supply. Properties listed under $600,000 are in high demand, averaging less than a month on the market before going into contract,” said Erika Lamb, REALTOR and President of the Reno/Sparks Association of REALTORS®.
Visit the following webpage for Market Insights: https://www.rsar.net/market-monitors
Because newly listed homes are on the market an average of only 36 days before they are contracted for sale, members of the Reno/Sparks Association of REALTORS® provide invaluable assistance so buyers can move quickly to purchase a home that meets their needs.
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 September 2020 Reno/Sparks had 680 sales of existing single-family homes, an increase of 17.4 percent from last year and a 3.8 percent increase from the previous month.
- The median sales price for an existing single-family residence in Reno/Sparks was $440,000, an increase of 11.4 percent from last year and a 1.1 percent decrease from the previous month.
- The median sales price of an existing condominium/townhome in Reno/Sparks in September 2020 was $269,250, an increase of 26.4 percent from last year.
Reno (including North Valleys)
- In September 2020, Reno (including North Valleys) had 478 sales of existing single-family homes, an increase of 17.4 percent from last year and an 8.1 percent increase from the previous month.
- The median sales price for an existing single-family residence was $461,550, an increase of 14 percent from last year and a 1.5 percent decrease from the previous month.
- The existing condominium/townhome median sales price in September 2020 was $275,000, an increase of 18.8 percent from last year.
Sparks (including Spanish Springs)
- In September 2020, Sparks (including Spanish Springs) had 202 sales of existing single-family homes, an increase of 17.4 percent from last year and 5.2 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 and unchanged from the previous month.
- The existing condominium/townhome median sales price for September 2020 was $240,000, an increase of 23.4 percent from last year.
Fernley
- In September 2020, Fernley had 51 sales of existing single-family homes, a 24.4 percent increase from last year and a 10.5 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $289,900, an increase of 8.6 percent from last year and a 3.4 percent decrease from the previous month.
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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