The Reno/Sparks Association of Realtors (RSAR) said the July median price of homes dropped 4.2 percent compared to June.
RSAR released its report on existing home sales in Reno/Sparks and Fernley, including median sales price and the number of home sales in the region last month. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service.
During the month of July, RSAR reported:
• The pace of sales activity slowed by about 7 percent from the previous month.
• The median price of an existing home slipped by 4.2 percent compared to June.
• Homes were on the market an average of 25 days between listing and a signed contract.
“We are seeing all the signs of a return to a well-balanced market,” said Sarah Scattini, president of the Reno/Sparks Association of REALTORS®. “Buyers have a good selection and can take their time to make the decision that is right for their family and their future.”
Reno/Sparks
• In July, Reno/Sparks had 425 sales of existing single-family homes, a decrease of 34 percent from last year and a 7.2 percent decrease from the previous month.
• The median sales price for an existing single-family residence in Reno/Sparks was $574,510, an increase of 9.4 percent from last year and a 4.2 percent decrease from the previous month.
• The median sales price of an existing condominium/townhome in Reno/Sparks in July 2022 was $365,000, an increase of 22.1 percent from last year.
Reno (including North Valleys)
• In July, Reno (including North Valleys) had 298 sales of existing single-family homes, a decrease of 32.7 percent from last year and an 11.6 percent decrease from the previous month.
• The median sales price for an existing single-family residence was $595,000, an increase of 8.2 percent from last year and a 6.3 percent decrease from the previous month.
• The existing condominium/townhome median sales price in July 2022 was $375,000, an increase of 15.4 percent from last year.
Sparks (including Spanish Springs)
• In July, Sparks (including Spanish Springs) had 127 sales of existing single-family homes, a decrease of 36.8 percent from last year and 5 percent increase from the previous month.
• The median sales price for an existing single-family residence was $547,480, an increase of 9.5 percent from last year and a decrease of less than 1 percent from the previous month.
• The existing condominium/townhome median sales price for July was $342,450, an increase of 32.2 percent from last year.
Fernley
• In July, Fernley had 33 sales of existing single-family homes, a 52.2 percent decrease from last year and a 17.5 percent decrease from the previous month.
• The median sales price for an existing single-family residence was $408,000, an increase of 14.9 percent from last year and a 1.1 percent increase from the previous month.
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