RSAR Releases February 2019 Existing Home Sales Report

RENO, Nev. – The Reno/Sparks Association of REALTORS® (RSAR) today released its February 2019 report on existing home sales in Reno, Sparks and Fernley, including median sales price and number of home sales in the region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).

During February 2019, the report showed Reno-Sparks had 344 sales of existing single-family homes; a decrease of 23 percent from February 2018 and a 6 percent increase from one month ago, January 2019. The report listed the median sales price for an existing single family residence in Reno-Sparks in February 2019 at $370,950; no change from February 2018 and a 3 percent increase from January 2019. All sales numbers are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The median sales price of existing condominium/townhomes in Reno-Sparks in February 2019 was $220,000; a 22 percent increase from a year ago.

In February 2019, Reno (including North Valleys) had 235 sales of existing single-family homes; a decrease of 27 percent from last year and a 1 percent decrease from the previous month. The median sales price in Reno for an existing single-family residence in February 2019 was $385,000; a 1 percent increase from February 2018, and a 1 percent increase from January 2019. All sales numbers are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for February 2019 in Reno was $227,500; a 19 percent increase from last year.

Sparks (including Spanish Springs) experienced 109 sales of existing single-family homes in February 2019; an 11 percent decrease from February 2018 and a 25 percent increase from January 2019. The Sparks median sales price for an existing single-family residence in February 2019 was $359,990; a 3 percent increase from February 2018 and a 6 percent increase from January 2019. All sales numbers are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for February 2019 in Sparks was $196,000; an 8 percent increase from last year.

The February 2019 report indicated that Fernley had 37 sales of existing single-family homes, a decrease of 30 percent from February 2018 and a 37 percent increase from January 2019. The median sales price in Fernley for an existing single-family residence in February 2019 was $267,450; a 9 percent increase from February 2018, and a 3 percent increase from last month. All sales numbers are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes.

“We are seeing an increase in unit sales as well as a slight lift in prices for February,” said Angelica Reyes, 2019 RSAR president and REALTOR with The Right Choice Realty. “A good indicator that we are still in a seller’s market is our inventory is now at 2.7 months supply of inventory and only 69 days to contract.”

The Reno/Sparks Association of REALTORS® is an organization providing services to its members to ensure their success as real estate professionals, as well as protecting and promoting the consumer’s dream of homeownership. For more information visit www.rsar.net.

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