Top Market Insights
The Reno/Sparks Association of REALTORS® (RSAR) today released its February 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 February, RSAR saw…
- The median home price stood at $450,000.
- The median price rose less than 1% from January to February.
- Transaction activity remains stable, but remains below pre-pandemic levels.
“The slowing rate of price increases for existing single-family homes is creating opportunities, especially for buyers who want to lock in today’s very low mortgage interest rates,” said Gary MacDonald President of the Reno/Sparks Association of REALTORS®.
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The COVID-19 pandemic has brought greater interest among homebuyers looking for home offices or space for a home gym. Now the question is whether this interest will remain as things return to normal.
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 February 2021, Reno/Sparks had 379 sales of existing single-family homes, a decrease of 17.6% from last year and an increase of less than 1% from the previous month.
- The median sales price for an existing single-family residence in Reno/Sparks was $450,000, an increase of 14.6% from last year and an increase of less than 1% from the previous month.
- The median sales price of an existing condominium/townhome in Reno/Sparks in February 2021 was $253,500, an increase of 1.6% from last year.
Reno (including North Valleys)
- In February 2021, Reno (including North Valleys) had 262 sales of existing single-family homes, a decrease of 16.6% from last year and a 4.4% decrease from the previous month.
- The median sales price for an existing single-family residence was $465,000, an increase of 14.1% from last year and a 1.4% decrease from the previous month.
- The existing condominium/townhome median sales price in February 2021 was $308,582, an increase of 21% from last year.
Sparks (including Spanish Springs)
- In February 2021, Sparks (including Spanish Springs) had 117 sales of existing single-family homes, a decrease of 19.9% from last year and 14.7% increase from the previous month.
- The median sales price for an existing single-family residence was $416,000, an increase of 12.5% from last year and an increase of less than 1% from the previous month.
- The existing condominium/townhome median sales price for February 2021 was $242,500, an increase of 6.6% from last year.
Fernley
- In February 2021, Fernley had 47 sales of existing single-family homes, a 20.5% increase from last year and a 9.3% increase from the previous month.
- The median sales price for an existing single-family residence was $317,500, an increase of 15.5% from last year and a 2.4% 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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