RSAR Releases July 2021 Existing Home Sales Report


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

During the month of July, RSAR saw …

● A slower price escalation as the median selling price of a single-family home in the area was $ 530,000, unchanged from the June figure.

● An increase of nearly 23% in the stock of homes available for purchase.

● Continued very rapid sales, homes being on the market on average 15 days before being put on sale.

“The region recorded 718 new listings of single-family homes during the month versus 627 sales. This means that buyers are starting to find more home choices available as they work with their real estate agent, ”said Gary MacDonald, president of the Reno / Sparks Association of REALTORS®.

Even though house prices have risen, persistently low mortgage interest rates fuel the dream of home ownership for many buyers. Real estate agents help buyers learn how to use low interest rates to offset some of the impact of higher prices.

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

Reno / Sparks

● In July 2021, Reno / Sparks achieved 627 sales of existing single-family homes, down 12.7% from last year and down 2.2% from the previous month.

● The median selling price of an existing single-family home in Reno / Sparks was $ 530,000, an increase of 22% from last year, but unchanged from the previous month.

● The median sale price of an existing condominium / townhouse in Reno / Sparks in July 2021 was $ 294,000, an increase of 10% from last year.

Reno (including the northern valleys)

● In July 2021, Reno (including North Valleys) had 431 sales of existing single-family homes, down 9.3% from last year and 6.9% from the previous month.

● The median selling price of an existing single-family residence was $ 554,000, an increase of 20.4% from last year and 0.7% from the previous month.

● The median selling price of existing condos / townhouses in July 2021 was $ 325,000, an increase of 21% from last year.

Sparks (including Spanish Springs)

● In July 2021, Sparks (including Spanish Springs) recorded 196 sales of existing single-family homes, down 9.3% from last year and up 10.1% from the previous month.

● The median selling price of an existing single-family residence was $ 500,000, an increase of 20.4% from last year and an increase of 4% from the previous month.

● The median sale price of existing condos / townhouses for July 2021 was $ 259,000, an increase of 4% over last year.

Fernley

● In July 2021, Fernley had 69 sales of existing single-family homes, a 30% increase from a year ago and a 5.5% drop from the previous month.

● The median selling price of an existing single-family home was $ 355,000, an increase of 26% from last year and essentially unchanged from the previous month.

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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