Home sales

RSAR Releases November 2021 Existing Home Sales Report

The Reno/Sparks Association of REALTORS® (RSAR) today released its November 2021 report on existing home sales in Reno/Sparks and Fernley, including the median sale price and number of home sales in the area. region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service.

During the month of November, RSAR saw…

The median price for an existing home was $535,000, down slightly from the previous month.

The number of completed transactions rose to 533, reflecting the typical seasonal slowdown in home sales.

The inventory of 400 homes currently for sale on the market represents only one month of sales, a very tight market.

“Newly listed homes are on contract 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 real estate agent and are well prepared to act quickly to make an offer that will be accepted.”

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As the area’s real estate market appears to be plateauing, real estate agents are using their expertise to help buyers and sellers develop realistic expectations regarding price, terms, and other variables.

More information, broken down by region, is provided below. All sales figures are for existing “stick-built single family homes” only and do not include condominiums, townhouses, manufactured, modular or newly constructed homes, unless otherwise noted.

Reno/Sparks

In November 2021, Reno/Sparks had 533 existing single-family home sales, down 12.2% from a year ago and down 6.5% from the previous month.

The median sale price for an existing single-family residence in Reno/Sparks was $535,000, an increase of 18.2% from a year ago and a decrease of less than 1% from the previous month.

The median sale price of an existing condominium/townhouse in Reno/Sparks in November 2021 was $286,750, an increase of 4.3% over last year.

Reno (including Northern Valleys)

In November 2021, Reno (including North Valleys) had 359 existing single-family home sales, down 16.1% from a year ago and down 8.9% from the previous month.

The median sale price of an existing single-family residence was $567,000, up 16.9% from a year ago and up 3.1% from the previous month.

The median sales price for existing condominiums/townhouses in November 2021 was $307,900, an increase of 10.8% over last year.

Sparks (including Spanish Springs)

In November 2021, Sparks (including Spanish Springs) had 174 existing single-family home sales, down 2.8% from last year and 1.1% from the previous month.

The median sale price of an existing single-family residence was $500,000, an increase of 22.3% over last year and an increase of less than 1% over the previous month.

The median sale price of existing condominiums/townhouses for November 2021 was $272,000, an increase of 17.7% over last year.

Fernley

In November 2021, Fernley had 53 existing single-family home sales, down 7% from last year and up 23.3% from the previous month.

The median sale price for an existing single-family residence was $365,900, up 17.7% from a year ago and up 1.4% from the previous month.