The Reno/Sparks Association of Realtors (RSAR) has released its March 2022 report on existing home sales in Reno/Sparks and Fernley. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service.

During the month of March 2022, the median sales price reached $575,000 for an existing home in Reno/Sparks, an increase of 2.9 percent over February’s figure.

RSAR says homes were under contract an average of 5 days after they were listed for sale during the month and the inventory of homes for sale rose by 17 percent from February’s figure.

“With the start of the spring selling season, we saw a noticeable uptick in new listings and a larger inventory of homes for sale. This may be a signal that our market is returning to a more balanced position,” said Sarah Scattini, President of the RSAR. 

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 March 2022, Reno/Sparks had 488 sales of existing single-family homes, a decrease of 2.7 percent from last year and a 29.8 percent increase from the previous month.
  • The median sales price for an existing single-family residence in Reno/Sparks was $575,000, an increase of 19.8 percent from last year and a 2.9 percent increase from the previous month.
  • The median sales price of an existing condominium/townhome in Reno/Sparks in March 2022 was $300,000, an increase of 21 percent from last year.

Reno (including North Valleys)

  • In March 2022, Reno (including North Valleys) had 335 sales of existing single-family homes, an increase of 9.8 percent from last year and a 27.4 percent increase from the previous month.
  • The median sales price for an existing single-family residence was $600,000, an increase of 17.9 percent from last year and a 3.4 percent increase from the previous month.
  • The existing condominium/townhome median sales price in March 2022 was $306,250, an increase of 22 percent from last year.

Sparks (including Spanish Springs)

  • In March 2022, Sparks (including Spanish Springs) had 153 sales of existing single-family homes, a decrease of 10 percent from last year and 35.4 percent increase from the previous month.
  • The median sales price for an existing single-family residence was $550,000, an increase of 23.1 percent from last year and a 7.8 percent increase from the previous month.
  • The existing condominium/townhome median sales price for March 2022 was $297,500, an increase of 24.5 percent from last year.

Fernley

  • In March 2022, Fernley had 67 sales of existing single-family homes, a 13.6 percent increase from last year and a 39.6 percent increase from the previous month.
  • The median sales price for an existing single-family residence was $390,000, an increase of 21.9 percent from last year and a 2.1 percent increase from the previous month.

(The Reno/Sparks Association of Realtors)