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The Reno/Sparks Association of REALTORS® (RSAR) today released its November 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 November, RSAR noted:
- The median price of an existing home stood at $535,000, down slightly from the previous month.
- The number of closed transactions totaled 533, reflecting the typical seasonal slowdown in home sales.
- The inventory of 400 homes currently for sale in the market represents only one month of sales, a very tight market.
“Newly listed homes are going under contract in an average of 17 days,” said Gary MacDonald, President of the Reno/Sparks Association of REALTORS®. “Buyers need to be sure they have good advice from a REALTOR® and are well-prepared to move quickly to make an offer that will be accepted.”
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As the area’s real estate market appears to be reaching a plateau, REALTORS® use their expertise to help both buyers and sellers develop realistic expectations about pricing, terms and other variables.
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 November 2021, Reno/Sparks had 533 sales of existing single-family homes, a decrease of 12.2 percent from last year and a 6.5 percent decrease from the previous month.
- The median sales price for an existing single-family residence in Reno/Sparks was $535,000, an increase of 18.2 percent from last year and a decrease of less than 1 percent from the previous month.
- The median sales price of an existing condominium/townhome in Reno/Sparks in November 2021 was $286,750, an increase of 4.3 percent from last year.
Reno (including North Valleys)
- In November 2021, Reno (including North Valleys) had 359 sales of existing single-family homes, a decrease of 16.1 percent from last year and an 8.9 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $567,000, an increase of 16.9 percent from last year and a 3.1 percent increase from the previous month.
- The existing condominium/townhome median sales price in November 2021 was $307,900, an increase of 10.8 percent from last year.
Sparks (including Spanish Springs)
- In November 2021, Sparks (including Spanish Springs) had 174 sales of existing single-family homes, a decrease of 2.8 percent from last year and 1.1 percent decrease from the previous month.
- The median sales price for an existing single-family residence was $500,000, an increase of 22.3 percent from last year and an increase of less than 1 percent from the previous month.
- The existing condominium/townhome median sales price for November 2021 was $272,000, an increase of 17.7 percent from last year.
Fernley
- In November 2021, Fernley had 53 sales of existing single-family homes, a 7 percent decrease from last year and a 23.3 percent increase from the previous month.
- The median sales price for an existing single-family residence was $365,900, an increase of 17.7 percent from last year and a 1.4 percent increase from the previous month.
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