RSAR Publishes Existing Home Sales Report July 2021

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

In July, RSAR saw …

● A slowdown in price escalation as the average single-family home sales price in the area was $ 530,000, unchanged from June.

● An increase in the number of homes for sale by almost 23 percent.

● Continued very fast sales, as houses were on the market an average of 15 days before the contract was signed.

“There were 718 new single-family listings in the region during the month, compared to 627 sales. This means that as they work with their REALTOR®, buyers begin to find more choices of available homes, ”said Gary MacDonald, President of the Reno / Sparks Association of REALTORS®.

Even though home prices have risen, persistently low mortgage rates keep the dream of owning a home alive for many buyers. REALTORS® helps buyers learn how to use low interest rates to offset some of the effects of higher prices.

Further information, broken down by region, can be found below. All sales figures refer only to existing “single-family houses in rod construction” and do not include condominiums, terraced houses, prefabricated houses, modular houses or new buildings, unless otherwise stated.

Reno / spark

● In July 2021, Reno / Sparks recorded 627 existing single family home sales, a decrease of 12.7 percent from the previous year and a decrease of 2.2 percent from the previous month.

The average retail price for an existing single family home in Reno / Sparks was $ 530,000, up 22 percent from last year but unchanged from the previous month.

The average sales price of an existing condo / townhouse in Reno / Sparks was $ 294,000 in July 2021, up 10 percent year over year.

Reno (including northern valleys)

● In July 2021, Reno (including North Valleys) recorded 431 existing single family home sales, a 9.3 percent decrease from the previous year and a 6.9 percent decrease from the previous month.

The average selling price for an existing single family home was $ 554,000, an increase of 20.4 percent over the previous year and an increase of 0.7 percent over the previous month.

The average condominium / townhouse sales price was $ 325,000 in July 2021, up 21 percent year over year.

Sparks (including Spanish feathers)

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

The average selling price for an existing single family home was $ 500,000, up 20.4 percent from last year and up 4 percent from the previous month.

The average sales price for existing condos / townhouses for July 2021 was $ 259,000, up 4 percent year over year.

Fernley

In July 2021, Fernley saw 69 existing single family home sales, up 30 percent from the previous year and down 5.5 percent from the previous month.

● The average selling price for an existing single family home was $ 355,000, up 26 percent from last year and essentially unchanged from the previous month.

About the Reno / Sparks Association of REALTORS® (RSAR):

The Reno / Sparks Association of REALTORS® is an organization that provides services to its members to ensure their success as real estate professionals and to protect and promote the consumer’s dream of owning a home. See rsar.realtor for more information.


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