The Reno/Sparks Association of REALTORS® (RSAR) released its December 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 December, RSAR saw…  

  • The median price of an existing single-family home in the region stood at $519,950.
  • The 835 homes available to buyers was more than double the 354 homes available during the market frenzy a year earlier.
  • The median price of an existing single-family home in the region stood at $519,950.
  • Homes were on the market an average of 53 days between listing and a contract for purchase.

“Home buyers are finding excellent opportunities in this market with improving affordability and a greater choice of homes to purchase,” said Sara Sharkey, President of the Reno/Sparks Association of REALTORS®. “Our return to normal market conditions is opening the door to homeownership for many families.”

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 December 2022, Reno/Sparks had 337 sales of existing single-family homes, a decline of 35.4 percent from last year and a 4 percent decrease from the previous month.
  • The median sales price for an existing single-family residence in Reno/Sparks was $519,950, a decline of 4.6 percent from last year and a 5.5 percent decrease from the previous month.
  • The median sales price of an existing condominium/townhome in Reno/Sparks in December 2022 was $309,750, a decrease of 1.7 percent from last year.

Reno (including North Valleys)

  • In December 2022, Reno (including North Valleys) had 232 sales of existing single-family homes, a decrease of 37.1 percent from last year and a 1.3 percent decrease from the previous month.
  • The median sales price for an existing single-family residence was $533,532, a decrease of 6.4 percent from last year and a 5.9 percent decrease from the previous month.
  • The existing condominium/townhome median sales price in December 2022 was $314,500, a decrease of 2.8 percent from last year.

Sparks (including Spanish Springs)

  • In December 2022, Sparks (including Spanish Springs) had 105 sales of existing single-family homes, a decrease of 31.4 percent from last year and 9.5 percent decrease from the previous month. 
  • The median sales price for an existing single-family residence was $495,000, a decrease of less than 3.7 percent from last year and a 2.9 percent decrease from the previous month. 
  • The existing condominium/townhome median sales price for December 2022 was $275,000, a decrease of 4.2 percent from last year.

Fernley

  • In December 2022, Fernley had 26 sales of existing single-family homes, a 50.9 percent decrease from last year and a 13.3 percent decrease from the previous month. 
  • The median sales price for an existing single-family residence was $357,500, a decrease of 1.2 percent from last year and a 4 percent decrease from the previous month.