The Reno/Sparks Association of Realtors said median home prices in Reno/Sparks are up 6.7 percent year over year for August 2022.
August saw 437 closed sales of existing single-family homes, an increase of 1.9 percent from the previous month, a news release said. However, the median price of an existing home decreased by 1.5 percent compared to July.
The median price of an existing condominium/townhome decreased by less than 1 percent from last year.
“The market in Reno-Sparks continues to cool down with fewer homes being listed each month, but it is giving more chances for people to enter the market,” said Sarah Scattini, president of the Reno/Sparks Association of Realtors. “Those looking to purchase a home now have more time to decide while those trying to sell their home may see their listing on the market for longer.”
Reno/Sparks
In August, Reno/Sparks had 437 sales of existing single-family homes, an increase of 1.9 percent from last month and a 22.2 percent decrease from the previous year.
The median sales price for an existing single-family residence in Reno/Sparks was $565,686, a decrease of 1.5 percent from last month and an 6.7 percent increase from the previous year.
The median sales price of an existing condominium/townhome in Reno/Sparks in August was $329,000, a decrease of less than 1 percent from last year.
Reno (including North Valleys)
In August, Reno/Sparks had 303 sales of existing single-family homes, a decrease of 22.3 percent from last year and a less than 1 percent decrease from the previous month.
The median sales price for an existing single-family residence in Reno/Sparks was $599,000, an increase of less than 1 percent from last month and an 8.4 percent increase from the previous year.
The median sales price of an existing condominium/townhome in Reno/Sparks in August
was $330,000, a decrease of 5.7 percent from last year.
Sparks (including Spanish Springs)
In August, Sparks had 134 sales of existing single-family homes, a decrease of 22.1 percent from last year and 5.5 percent increase from the previous month.
The median sales price for an existing single-family residence was $524,901, an increase of 5.6 percent from last year and a decrease of 4.1 percent from the previous month.
The existing condominium/townhome median sales price for August was $311,500, an increase of less than 1 percent from last year.
Fernley
In August, Fernley had 32 sales of existing single-family homes, a 3 percent decrease from last month and a 51.5 percent decrease from the previous year.
The median sales price for an existing single-family residence was $385,500, a decrease of 5.5 percent from last month and a 7.4 percent increase from the previous year.
RSAR released its August report on existing home sales in Reno/Sparks and Fernley, including median sales price and the number of home sales in the region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service.
