Top Market insights
RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its January 2022 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.
During the month of January 2022, RSAR saw…
Price appreciation remained robust, and the median sales price of an existing home in the region topped $570,000 during January.
Sales activity slowed compared with the previous month levels.
The 400 new listings on the market during January was 33 percent higher than the inventory of 300 during December.
“Prices remain very strong, and homes were under contract an average of only seven days after they were listed for sale during January,” said Sarah Scattini, President of the Reno/Sparks Association of REALTORS®. “The slowing of sales activity compared with the same time last year hints, however, that rising mortgage interest rates may begin to cool the market.”
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More information, divided by region, is provided below. All sales numbers are for existing “stick-built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes unless otherwise stated.
-Reno/Sparks
In January 2022, Reno/Sparks had 398 sales of existing single-family homes, a decrease of 24.5 percent from the previous month and a 4.2 percent increase from the previous year.
The median sales price for an existing single-family residence in Reno/Sparks was $570,000, an increase of 26.7 percent from last year and a 4.6 percent increase from the previous month.
The median sales price of an existing condominium/townhome in Reno/Sparks in January 2022 was $330,000, an increase of 33.1 percent from last year.
-Reno (including North Valleys)
In January 2022, Reno (including North Valleys) had 275 sales of existing single-family homes, a decrease of 26.5 percent from the previous month and no change from the previous year.
The median sales price for an existing single-family residence in Reno (including North Valleys) was $600,000, an increase of 27.1 percent from last year and a 7.9 percent increase from the previous month.
The median sales price of an existing condominium/townhome in Reno (including North Valleys) in January 2022 was $372,000, an increase of 30.5 percent from last year.
-Sparks (including Spanish Springs)
In January 2022, Sparks (including Spanish Springs) had 123 sales of existing single-family homes, an increase of 15 percent from last year and 19.6 percent decrease from the previous month.
The median sales price for an existing single-family residence was $520,000, an increase of 22.4 percent from last year and a 1.2 percent increase from the previous month.
The existing condominium/townhome median sales price for January 2022 was $306,950, an increase of 55.4 percent from last year.
-Fernley
In January 2022, Fernley had 42 sales of existing single-family homes, a 20.8 percent decrease from last year and a 2.3 percent decrease from the previous month.
The median sales price for an existing single-family residence was $375,000, an increase of 21 percent from last year and a 3.6 percent increase from the previous month.
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About The Reno/Sparks Association of REALTORS® (RSAR):
The Reno/Sparks Association of REALTORS® is an organization providing services to its members to ensure their success as real estate professionals, as well as protecting and promoting the consumer’s dream of homeownership. For more information, visit rsar.realtor.
