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 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]…
| 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.
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