April 2022 Market Report for Reno and Sparks, Nevada

Reno-Sparks median sales price hits another all-time high in April — jumps 3.5% over March’s median; Home sales slow and inventory rises 70%!

The median home sales price for the Reno, Nevada metro area rose to $595,000 in April — setting another record high for the market.

April’s median sales price was up 3.5 percent over March’s number — and was up 20.6 percent year-over-year.

April’s median sold price per square foot (PPSF) was up 1.9 percent over March’s sold PPSF — also setting a new record high of 329.34/sq.ft. Year-over-year, April’s median was up 20.9 percent.

Homes Sold

491 homes sold in April. This number was down 2.0 percent from the 501 homes sold in March.

Current record-setting home prices and rising interest rates appear to be curbing spring home sales. Consider that, year-over-year, April’s home sales are down 16.1 percent.

Inventory

Available inventory jumped a whopping 70.3 percent over this time last month. 528 homes are homes are currently available for purchase in the Reno-Sparks market — representing just over a one-month supply of inventory.

Year-over-year, overall available inventory is up a noteworthy 150.2 percent.

743 homes are presently pending sale in the Reno-Sparks market. That number is up 2.6 percent from March’s 724 pending sales this time last month; and is down 4.5 percent year-over-year.

Days on Market

April’s median days on market (DOM) came in at 43 days — a 3 day increase over March’s median DOM of 40 days. Year-over-year, April’s DOM is up 2 days over April 2021’s DOM.

Sales by Type

April sales by type, break out as follows:

  • REO sales: 0.0% – down from March’s 0.4%
  • Short sales: 0.0% – unchanged from March’s 0.0%
  • Subject to Court Approval sales: 1.8% – down from March’s 2.4%
  • Relocation sales: 0.6% – up over March’s 0.4%
  • Auction sales: 0.0% – down from March’s 0.2%
  • Other sales: 0.0% – unchanged from March’s 0.0%
  • Equity sales: 97.6% – up over March’s 96.5%

Sales by Price

April sales by price band break out as follows…

Sales by Price Segment
sales price ($000’s) units sold % of sales cumulative % of sales
0 – 99 0 0.0% 0.0%
100 – 199 0 0.0% 0.0%
200 – 299 3 0.6% 0.6%
300 – 399 22 4.5% 5.1%
400 – 499 109 22.2% 27.3%
500 – 599 117 23.8% 51.1%
600 – 699 76 15.5% 66.6%
700 – 799 58 11.8% 78.4%
800 – 899 28 5.7% 84.1%
900 – 999 18 3.7% 87.8%
1M – 1.499M 39 7.9% 95.7%
1.5M – 1.999M 14 2.9% 98.6%
2.0M+ 7 1.4% 100%
total 491 100%

April’s median sold price for houses and condos combined was $545,500 — a 1.4 percent increase over March’s median sold price of $538,125 for combined sales of houses and condos. Year-over-year, April’s combined number is up 18.1 percent.

The table below contains the past 13 months of data[1]

Past 13 Months of Home Sales Data
Month Year # Sold Median Sold Price Sold Price per Sq Ft Median DOM # of Actives # of Pendings
Apr 2022 491 $595,000 $329.34 43 528 743
Mar 2022 501 $575,000 $323.34 40 310 724
Feb 2022 377 $559,000 $314.93 43 269 738
Jan 2022 403 $569,900 $300.62 56 266 525
Dec 2021 522 $545,000 $305.40 53 282 547
Nov 2021 544 $536,500 $305.41 48 335 748
Oct 2021 569 $540,000 $308.02 47 512 789
Sep 2021 595 $535,000 $301.44 45 538 817
Aug 2021 562 $530,000 $300.94 43 518 820
Jul 2021 643 $525,000 $288.46 42 426 805
Jun 2021 641 $530,000 $290.08 42 332 813
May 2021 541 $501,000 $284.21 42 246 857
Apr 2021 585 $493,457 $272.44 41 211 778

1. The residential housing market data reported on above covers the cities of Reno, Nevada and Sparks, Nevada [NNRMLS Area #100]. Market data includes SFR (Single Family Residence) properties only. Data excludes Condo/Townhouse, Manufactured/Modular properties. Data courtesy of the Northern Nevada Regional MLS – May 10, 2022. Note: This information is deemed reliable, but not guaranteed.

For historical home sale data dating back to 1998 click here.

Click here to see Reno Homes for Sale.


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