This graph from RSAR's April 2020 report shows the trend of median prices for single-family homes across greater Reno-Sparks the past three years. Go to rsar.net/reno-sparks-market-reports for the full report.
RENO, Nev. — While the number of homes sold across greater Reno-Sparks decreased significantly in April due to the coronavirus, median home prices continue to rise, officials said recently.
On May 7, the Reno/Sparks Association of Realtors released its April 2020 report. The median price for a single-family home across Reno-Sparks last month set another record at $416,500, an increase of 10.5% from last year and a 0.4% increase from March's record of $415,000.
When looking solely at Reno (including North Valleys), April's median price was $439,500, up 9.9% from last year and 2.2% from March. In Sparks (including Spanish Springs), the median home price last month was $386,450.
Meanwhile, greater Reno/Sparks reported 374 sales of existing single-family homes in April, a decrease of 39.8% from last year and a 26.2% decrease from March. Specific to Reno, 252 homes were sold in April, down 31% and 30.4%, respectively.
According to RSAR, the decreases are in part due to extended closing times to allow for precautions necessary during the governor's stay-at-home order.
“Real estate agents have adapted to the necessary ‘Stay at Home for Nevada' directives by increasing the use of virtual showings of homes in April,” Erika Lamb, RSAR president, said in a May 7 statement. “Currently, there are 457 active listings in the Reno-Sparks area providing virtual tours to potential buyers. People are continuing to buy and sell homes in Nevada, and it's our goal to ensure they do so safely.”
According to RSAR, accepted offers in April were within 98.9 percent of asking price, indicating property values remain strong.
Other highlights included in the April report from RSAR include:
RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service. Go here for more information.
-->RENO, Nev. — While the number of homes sold across greater Reno-Sparks decreased significantly in April due to the coronavirus, median home prices continue to rise, officials said recently.
On May 7, the Reno/Sparks Association of Realtors released its April 2020 report. The median price for a single-family home across Reno-Sparks last month set another record at $416,500, an increase of 10.5% from last year and a 0.4% increase from March's record of $415,000.
When looking solely at Reno (including North Valleys), April's median price was $439,500, up 9.9% from last year and 2.2% from March. In Sparks (including Spanish Springs), the median home price last month was $386,450.
Meanwhile, greater Reno/Sparks reported 374 sales of existing single-family homes in April, a decrease of 39.8% from last year and a 26.2% decrease from March. Specific to Reno, 252 homes were sold in April, down 31% and 30.4%, respectively.
According to RSAR, the decreases are in part due to extended closing times to allow for precautions necessary during the governor's stay-at-home order.
“Real estate agents have adapted to the necessary ‘Stay at Home for Nevada' directives by increasing the use of virtual showings of homes in April,” Erika Lamb, RSAR president, said in a May 7 statement. “Currently, there are 457 active listings in the Reno-Sparks area providing virtual tours to potential buyers. People are continuing to buy and sell homes in Nevada, and it's our goal to ensure they do so safely.”
According to RSAR, accepted offers in April were within 98.9 percent of asking price, indicating property values remain strong.
Other highlights included in the April report from RSAR include:
RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service. Go here for more information.
