Reno's median home price hits $413,405 in November

RENO, Nev. — Reno's median home price jumped to $413,405 in November, a 4 percent increase from the same month a year ago and little change from the month prior, according to the Reno/Sparks Association of Realtors.

Meanwhile, across greater Reno-Sparks, November's median price of $400,000 remained unchanged from October.

“While the median price remained unchanged between October and November, Reno/Sparks is in line with the national average of about 4.5 percent increase year over year,” Realtor Angelica Reyes, 2019 RSAR president and managing broker for The Right Choice Realty, said in a Dec. 6 press release.

These and other figures are included in RSAR's November 2019 report on existing home sales, covering the Reno/North Valleys, Sparks/Spanish Springs and Fernley markets.

RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).

Below is a breakdown of highlights from the November report, according to RSAR (go to www.rsar.net/market-reports to read the full report, as well as those for past months):

RENO-SPARKS

• Combined region saw 435 sales of existing single-family homes, a decrease of 7 percent from November 2018 and a 23 percent decrease from October 2019.
• Median home price was $400,000, a 6 percent increase from November 2018 and no change from October 2019.
• Median condo/townhome price was $230,700, a 30 percent increase from a year ago.

RENO/NORTH VALLEYS

• Region had 311 home sales, a decrease of 5 percent from last year and a 26 percent decrease from the previous month.
• Median home price of $413,405 represents a less-than-1-percent decrease from October 2019.
• Median condo/townhome price was $257,000, a 50 percent increase from last year.

SPARKS/SPANISH SPRINGS

• Region had 124 home sales, a 12 percent decrease from November 2018 and a 13 percent decrease from October 2019.
• Median home price was $370,000, a 3 percent increase from November 2018 and a 2 percent increase from October 2019.
• Median condo/townhome price was $215,000, a 16 percent increase from last year.

FERNLEY

• Fernley had 46 home sales in November, an increase of 5 percent from November 2018 and a 10 percent decrease from October 2019.
• Median home price was $273,250, a 4 percent increase from November 2018 and a 4 percent increase from October 2019.