RSAR Releases August 2021 Existing Home Sales Report

Better market information

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

Reno / Sparks Association of Relators (RSAR) logo. Photo courtesy of RSAR.

During the month of August, RSAR saw …

● House prices rose only 1% from the previous month, the third consecutive month of slowing price increases.

● Homes continued to sell very quickly, going under contract on average 16 days after being put up for sale.

● The inventory of homes for sale – 511 homes – was up 3% from July.

“As prices continue to stabilize and wages in the region begin to rise, homeownership becomes more accessible,” said Gary MacDonald, president of the Reno / Sparks Association of REALTORS®. “It seems that the housing market in our region is heading for a better balance. “

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As prices stabilize and the market remains strong, Reno / Sparks has finally hit a full month of inventory. Hiring a real estate agent can benefit homebuyers looking to break into the strong market and find their dream home.

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

Reno / Sparks

● In August 2021, Reno / Sparks achieved 552 sales of existing single-family homes, down 16% from last year and 14% from the previous month.

● The median selling price of an existing single-family home in Reno / Sparks was $ 530,000, an increase of 19.8% from last year and 1% from the previous month.

● The median sale price of an existing condominium / townhouse in Reno / Sparks in August 2021 was $ 330,000, an increase of 31.1% from last year.

Reno (including the northern valleys)

● In August 2021, Reno (including North Valleys) recorded 380 sales of existing single-family homes, down 14.2% from last year and 13.8% from the previous month.

● The median selling price of an existing single-family residence was $ 553,500, an increase of 18% from last year and an increase of less than 1% from the previous month.

● The median sale price of existing condos / townhouses in August 2021 was $ 350,000, an increase of 37.3% over last year.

Sparks (including Spanish Springs)

● In August 2021, Sparks (including Spanish Springs) recorded 172 sales of existing single-family homes, down 20% from last year and down 13.6% from the previous month.

● The median selling price of an existing single-family residence was $ 496,950, an increase of 19.7% from last year and a decrease of less than 1% from the previous month.

● The median sale price of existing condos / townhouses for August 2021 was $ 310,000, an increase of 37.8% over last year.

Fernley

● In August 2021, Fernley recorded 64 sales of existing single-family homes, an increase of 12.3% from last year and a decrease of 7.2% from the previous month.

● The median selling price of an existing single-family residence was $ 357,300, an increase of 19.1% from last year and an increase of less than 1% from the previous month.

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About the Reno / Sparks Association of REALTORS® (RSAR):

The Reno / Sparks of REALTORS® Association is an organization that provides services to its members to ensure their success as real estate professionals, as well as to protect and promote the dream of homeownership. For more information, visit rsar.realtor.

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