Top Market Insights
The Reno/Sparks Association of REALTORS® (RSAR) has released its December 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 December, RSAR saw…
- Home prices remained strong, with a median price near $450,000.
- The number of new listings continued to decline.
- Homes sold quickly, with an average of 31 days from listing to a signed contract for sale.
“The combination of a strong local economy and low interest rates continue to support an exceptionally strong housing market. The available properties for sale represents days of supply versus what a normal inventory of six months of supply would be. We encourage buyers to act quickly when they identify that special home.” said Gary MacDonald, President of the Reno/Sparks Association of REALTORS®.
Click here for Market Insights: https://www.rsar.net/market-monitors
Members of the Reno/Sparks Association are working closely with buyers to ensure that they make their best offer from the start because back-and-forth negotiation is rare with such small inventories of homes for sale.
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 2020, Reno/Sparks had 538 sales of existing single-family homes, an increase of 4.1 percent from last year and a 5.4 percent decrease from the previous month.
- The median sales price for an existing single-family residence in Reno/Sparks was $449,600, an increase of 14.1 percent from last year and a decline of less than 1 percent from the previous month.
- The median sales price of an existing condominium/townhome in Reno/Sparks in December 2020 was $273,731, a decrease of less than 1 percent from last year.
Reno (including North Valleys)
- In December 2020, Reno (including North Valleys) had 387 sales of existing single-family homes, an increase of 7.8 percent from last year and a 3 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $500,000, an increase of 23.5 percent from last year and a 4.2 percent increase from the previous month.
- The existing condominium/townhome median sales price in December 2020 was $290,000, an increase of 4.3 percent from last year.
Sparks (including Spanish Springs)
- In December 2020, Sparks (including Spanish Springs) had 151 sales of existing single-family homes, a decrease of 4.4 percent from last year and 11.2 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $405,000, an increase of 10.4 percent from last year and a 1.4 percent decrease from the previous month.
- The existing condominium/townhome median sales price for December 2020 was $225,000, a decrease of 5.5 percent from last year.
Fernley
- In December 2020, Fernley had 61 sales of existing single-family homes, a 45.2 percent increase from last year and a 15.1 percent increase from the previous month.
- The median sales price for an existing single-family residence was $305,000, an increase of 10.9 percent from last year and a 1 percent increase 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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