Top Market Insights
The Reno/Sparks Association of REALTORS® (RSAR) today released its March 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 March, RSAR saw…
- The median price of a single-family home stood at $450,000, up 7.8 percent from February.
- Transaction volume began to pick up, with 459 sales reported in March.
- The 592 new listings reported during the month improved inventories and hinted that the market may be coming into better balance.
“Demand remains exceptionally strong. Homes are on the market in Reno and Sparks for an average of only 18 days between the time they are listed and the time a contract is signed, which compares with 34 days a year ago,” said Gary MacDonald, President of the Reno/Sparks Association of REALTORS®.
Click here for Market Insights. https://www.rsar.net/market-monitors
Bidding wars are common, and many homes in Reno and Sparks are selling for more than their listed price. Skilled REALTORS® help buyers negotiate the difficult terrain of multiple bids.
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 March 2021, Reno/Sparks had 459 sales of existing single-family homes, a decrease of 11.4 percent from last year and a 19.5 percent increase from the previous month.
- The median sales price for an existing single-family residence in Reno/Sparks was $450,000, an increase of 16.9 percent from last year and a 7.8 percent increase from the previous month.
- The median sales price of an existing condominium/townhome in Reno/Sparks in March 2021 was $245,000, an increase of 2.3 percent from last year.
Reno (including North Valleys)
- In March 2021, Reno (including North Valleys) had 293 sales of existing single-family homes, a decrease of 21 percent from last year and a 11 percent increase from the previous month.
- The median sales price for an existing single-family residence was $515,000, an increase of 19.8 percent from last year and a 10.8 percent increase from the previous month.
- The existing condominium/townhome median sales price in March 2021 was $247,450, a decrease of 2.5 percent from last year.
Sparks (including Spanish Springs)
- In March 2021, Sparks (including Spanish Springs) had 166 sales of existing single-family homes, an increase of 12.9 percent from last year and a 38.3 percent increase from the previous month.
- The median sales price for an existing single-family residence was $446,718, an increase of 14.8 percent from last year and a 7 percent increase from the previous month.
- The existing condominium/townhome median sales price for March 2021 was $239,000, an increase of 3.9 percent from last year.
Fernley
- In March 2021, Fernley had 59 sales of existing single-family homes, an 18 percent increase from last year and a 22.9 percent increase from the previous month.
- The median sales price for an existing single-family residence was $320,000, an increase of 14.2 percent from last year and a 1.2 percent increase from the previous month.
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