(October 10, 2022) The Reno/Sparks Association of REALTORS® (RSAR) today released its September 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 September, RSAR saw…  

  • Prices continue to stabilize, and the median price of an existing home in the region was up less than 1 percent from year-earlier figures.
  • Homes were on the market an average of 38 days before they were under contract.
  • Approximately 1,300 homes were available for purchase, more than double the selection available to buyers in the same month last year.

“Today’s mortgage interest rates remain very moderate compared to historic averages,” said Sarah Scattini, President of the Reno/Sparks Association of REALTORS®. “Savvy homebuyers  are finding excellent opportunities among the homes available for purchase across various price ranges.”

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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 September 2022, Reno/Sparks had 461 sales of existing single-family homes, a decrease of 22.7 percent from last year and a 1.8 percent increase from the previous month.
  • The median sales price for an existing single-family residence in Reno/Sparks was $535,000, an increase of 0.5 percent from last year and a 5.3 percent decrease from the previous month.
  • The median sales price of an existing condominium/townhome in Reno/Sparks in September 2022 was $347,500, an increase of 21.9 percent from last year.

Reno (including North Valleys)

  • In September 2022, Reno (including North Valleys) had 312 sales of existing single-family homes, a decrease of 24.8 percent from last year and a 1 percent decrease from the previous month.
  • The median sales price for an existing single-family residence was $540,000, a decrease of 1.8 percent from last year and a 9.3 percent decrease from the previous month.
  • The existing condominium/townhome median sales price in September 2022 was $360,000, an increase of 24.1 percent from last year.

Sparks (including Spanish Springs)

  • In September 2022, Sparks (including Spanish Springs) had 149 sales of existing single-family homes, a decrease of 17.7 percent from last year and an 8 percent increase from the previous month. 
  • The median sales price for an existing single-family residence was $515,000, an increase of 2 percent from last year and a 2.1 percent decrease from the previous month. 
  • The existing condominium/townhome median sales price for September 2022 was $285,000, an increase of 4.6 percent from last year.

Fernley

  • In September 2022, Fernley had 37 sales of existing single-family homes, a 32.7 percent decrease from last year and a 15.6 percent increase from the previous month. 
  • The median sales price for an existing single-family residence was $385,000, an increase of 4.1 percent from last year and a decrease of less than 1 percent from the previous month.