Reno-Sparks median price stays at $530K, inventory improves slightly
An overview of August real estate stats for the Greater Reno/Sparks market, compared to the previous month.
Courtesy: Reno/Sparks Association of Realtors
Single-family home prices across Greater Reno/Sparks remained relatively static in August, with the region-wide median single-family home price coming in at $530,000. While that’s unchanged from July 2021, it represents a nearly 20% increase from August 2020’s median of $444,900, according to the Reno/Sparks Association of Realtors’ newest monthly report released Sept. 7. In the Reno market (including North Valleys), the median price in August was $553,500, an increase of 18% from last year and up less than 1% from July 2021, according to RSAR. In Sparks (including Spanish Springs), August’s median price of $496,950 represents a nearly 20% increase from August 2020 and a less than 1% dip from July 2021’s record-high median of $500,000. “As prices continue to stabilize and wages in the region begin to trend upward, home ownership becomes more attainable,” RSAR President Gary MacDonald said in a statement. “It appears that the housing market in our region is moving toward improved balance.” RSAR’s Sept. 7 report notes that inventory of single-family homes for sale — 511— in August was up 3% compared to July 2021. As for sales, 552 homes were sold in August across Greater Reno/Sparks, down 16% from last year and down 14% from July 2021. In Reno/North Valleys, 380 homes were sold in August, down 14.2% from last year and down 13.8% from July 2021.
Sparks/Spanish Springs saw 172 home sales, down 20% from August 2020 and down 13.6% from July 2021. Meanwhile, the median sales price of an existing condominium/townhome in Greater Reno/Sparks in August 2021 was $330,000, an increase of 31.1% from last year. Over in Fernley, RSAR’s other reporting area, 64 homes were sold in August, representing a 12.3% uptick from last year and down 7.3% from July 2021. Fernley’s median price came in at $357,300 last month — up 19.1% from August 2020 and a less than 1% increase from July 2021. Go here for details from the August report. RSAR compiles monthly reports based on information derived from the Northern Nevada Regional MLS.
