The median home price across Greater Reno-Sparks set a record in December of $545,000, buoyed by another record-high in the Sparks market, according to the Reno/Sparks Association of Realtors.
The region-wide figure represents an increase of 1.9 percent from November’s total of $535,000 for Greater Reno-Sparks, and an increase of 21.2 percent from the previous year, according to RSAR’s December 2021 market report. The previous record, $540,000, was set in October 2021.
Meanwhile, Greater Reno-Sparks recorded 520 sales of existing single-family homes in December, a decrease of 4.6 percent from November 2021 and a 6.3 percent decrease from December 2020.
Breaking things down by region, there were 370 homes sold in the Reno market (including North Valleys) in December, an increase of less than 1 percent from November 2021 and 6.3 percent decrease from December 2020. The median sales price in Reno was $555,000, down 2.1 percent the previous month’s record high of $567,000 and an 11 percent increase from December 2020, according to RSAR's report.
In the Sparks market (including Spanish Springs), 150 homes were sold in December, down 15.7 percent from the previous month and down 6.3 percent from December 2021. Sparks’ median sales price was $521,750, up 4.4 percent from November 2021 and an increase of 29.5 percent from December 2021. The previous record median price for Sparks was $505,000 in September 2021.
RSAR’s December report also notes that the median price of an existing condominium/townhome across Greater Reno-Sparks was $315,000, an increase of 15.6 percent from last year.
In Fernley, 53 homes were sold in December, a decrease of 17.2 percent from last year, according to RSAR. The median sales price in Fernley was $360,000, a decrease of 1.4 percent from November and an increase of 16.8 percent from December 2020.