The Reno/Sparks Association of REALTORS® (RSAR) today released its May 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 May, RSAR saw…
- The median price of an existing home in the Reno-Sparks region stood at $502,000, an increase of 1.5 percent over the previous month.
- The number of existing homes that sold during the month — 535 — slowed by about 8 percent from April’s figures.
- Homes were on the market for an average of only 14 days before sellers accepted a contract.
“The inventory of homes for sale continued to tighten during May,” said Gary MacDonald, President of the Reno/Sparks Association of REALTORS®. “The active inventory at the end of the month declined by 13 percent and stood at 300 homes — well under a month’s supply at the current pace of sales.”
Click here for Market Insights: https://www.rsar.net/market-monitors
As more buyers are making all-cash offers for homes, buyers who rely on traditional mortgage financing need to make sure their offers remain competitive. Members of the Reno/Sparks Association of REALTORS® can provide some useful tips.
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 May 2021, Reno/Sparks had 535 sales of existing single-family homes, an increase of 32.4 percent from last year and an 8.1 percent decrease from the previous month.
- The median sales price for an existing single-family residence in Reno/Sparks was $502,000, an increase of 25.5 percent from last year and a 1.5 percent increase from the previous month.
- The median sales price of an existing condominium/townhome in Reno/Sparks in May 2021 was $315,000, an increase of 16.7 percent from last year.
Reno (including North Valleys)
- In May 2021, Reno (including North Valleys) had 368 sales of existing single-family homes, an increase of 29.1 percent from last year and a 12.6 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $550,000, an increase of 37.5 percent from last year and a 9.6 percent increase from the previous month.
- The existing condominium/townhome median sales price in May 2021 was $317,450, an increase of 17.6 percent from last year.
Sparks (including Spanish Springs)
- In May 2021, Sparks (including Spanish Springs) had 167 sales of existing single-family homes, an increase of 40.3 percent from last year and a 3.7 percent increase from the previous month.
- The median sales price for an existing single-family residence was $453,500, an increase of 17.8 percent from last year and a 1.4 percent decrease from the previous month.
- The existing condominium/townhome median sales price for May 2021 was $297,500, an increase of 3.5 percent from last year.
Fernley
- In May 2021, Fernley had 49 sales of existing single-family homes, a 53.1 percent increase from last year and a 9.3 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $352,500, an increase of 30 percent from last year and a 6.8 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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