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 region. region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service.

During the month of November, RSAR saw …

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

The number of deals closed totaled 533, reflecting the typical seasonal slowdown in home sales.

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

“Newly listed homes are contracted in an average of 17 days,” said Gary MacDonald, president of the Reno / Sparks Association of REALTORS®. “Buyers need to be sure that they have the right advice from a real estate agent and that they are well prepared to act quickly to make an offer that will be accepted. “

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As the region’s real estate market appears to be plateauing, REALTORS use their expertise to help buyers and sellers develop realistic expectations regarding prices, terms and other variables.

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 November 2021, Reno / Sparks made 533 sales of existing single-family homes, down 12.2% from last year and down 6.5% from the previous month.

The median selling price of an existing single-family home in Reno / Sparks was $ 535,000, an increase of 18.2% from last year 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% from last year.

Reno (including the northern valleys)

In November 2021, Reno (including North Valleys) recorded 359 sales of existing single-family homes, down 16.1% from last year and 8.9% from the previous month.

The median selling price of an existing single-family residence was $ 567,000, an increase of 16.9% from last year and 3.1% from the previous month.

The median sale price of existing condos / townhouses in November 2021 was $ 307,900, an increase of 10.8% from last year.

Sparks (including Spanish Springs)

In November 2021, Sparks (including Spanish Springs) recorded 174 sales of existing single-family homes, down 2.8% from a year ago and 1.1% from the previous month.

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

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

Fernley

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

The median selling price of an existing single-family home was $ 365,900, an increase of 17.7% from last year and 1.4% from the previous month.