The number of homes sold last month across greater Reno-Sparks increased greatly compared to a year ago, while median prices continue to hover around a half-million dollars heading toward summer. On May 7, the Reno/Sparks Association of Realtors released its April 2021 market report, showing Reno-Sparks recorded 570 sales of existing single-family homes, an increase of 45.4% from last year and up 21.5% from March. The sharp increase comes “as COVID-19 effects on the market continue to wane,” according to the association.
“There are signs that the exceptionally tight inventory of existing homes available for purchase may be easing,” Gary MacDonald, RSAR board president, said in a May 7 press release. “We saw 636 new listings during April compared with 570 sales, which means buyers now have more options.” When breaking things down by region, the Reno market, which includes North Valleys, saw 413 home sales last month, which equates to a whopping 56.4% increase from last year and a 37.2% increase from March. The Sparks market, which includes Spanish Springs, was more of a mixed bag. The region recorded 157 home sales in April — that’s up 22.7% from last year and down 6.5% from March. The story was similar in Fernley, where 51 homes were sold in April — up 16% from last year and down 13.5% from March. Meanwhile, the median single-family home price for greater Reno-Sparks last month came in at $494,500, an increase of 19% from April 2020 and up 2.2% from the previous month’s mark of $485,000. Other key figures from RSAR’s April 2021 report are as follows:
The median home price in Reno-North Valleys was $505,000, up 15.8% from last year and down 1.4% from March 2021’s record high of $515,000.
The median home price in Sparks-Spanish Springs set a new record of $456,000, up 17.5% from last year and up 1.3% from March’s previous record of $446,718.
The median home price in Fernley was $330,000, a 21% increase from April 2020 and up 3% from last month.
In terms of condo/townhome sales, the median price across all of Reno-Sparks was $269,000, an increase of 17% from last year.
In Reno-North Valleys, the median condo price was $306,000, up 24.9% from last year; in Sparks-Spanish Springs, that median was $246,000, up 12.8% from last year.
RSAR’s monthly reports include information derived from the Northern Nevada Regional MLS. Go to rsar.net/market-monitors for full monthly insights and statistics.