Reno-Sparks median sales price remains flat – 4 months running
Since hitting an all-time high of $530,000 in June of this year, the median sales price for homes in Reno-Sparks, Nevada has remained flat — a welcomed breather from the rapidly rising sale prices observed during this year’s earlier home buying season.
September’s median sales price of $530,000 was unchanged from August’s; and up 20.5 percent year-over-year.
Despite the median sales price holding relatively steady, September’s median sold price per square foot (PPSF) continued to edge up — coming in at $301.13/sq.ft. — barely setting a new all-time high for this metric.
September’s median sold PPSF was up 0.1 percent over August’s sold PPSF; and was up a remarkable 25.9 percent year-over-year.
Homes Sold
586 homes sold in September. This number was up 4.5 percent over the 561 homes sold in August. Year-over-year, September’s home sales are down 16.2 percent.
Inventory
Available inventory continues to edge up. Currently only 538 homes are available for purchase in the Reno-Sparks market — representing less than a one-month supply of homes for sale. That being said, the current available inventory is up 3.9 percent from this time last month.
And, year-over-year, available inventory is up a substantial 24.5 percent.
817 homes are presently pending sale in the Reno-Sparks market. That number is down 0.4 percent from August’s 820 pending sales this time last month; and is down 19.3 percent year-over-year.
Days on Market
September’s median days on market (DOM) came in at 45 days — a two day increase over August’s median DOM of 43 days. Year-over-year, September’s DOM is 4 days lower than September 2020’s DOM.
Sales by Type
September sales by type, break out as follows:
- REO sales: 0.0% – unchanged from August’s 0.0%
- Short sales: 0.0% – unchanged from August’s 0.0%
- Subject to Court Approval sales: 0.9% – down from August’s 1.4%
- Relocation sales: 0.3% – up over August’s 0.2%
- Auction sales: 0.2% – up over August’s 0%
- Other sales: 0.5% – up over August’s 0%
- Equity sales: 98.1% – down from August’s 98.4%
Sales by Price
September 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 | 8 | 1.4% | 1.4% |
| 300 – 399 | 71 | 12.1% | 13.5% |
| 400 – 499 | 167 | 28.5% | 42.0% |
| 500 – 599 | 132 | 22.5% | 64.5% |
| 600 – 699 | 69 | 11.8% | 76.3% |
| 700 – 799 | 48 | 8.2% | 84.5% |
| 800 – 899 | 23 | 3.9% | 88.4% |
| 900 – 999 | 12 | 2.0% | 90.4% |
| 1M – 1.5M | 39 | 6.7% | 97.1% |
| 1.5M+ | 17 | 2.9% | 100% |
| total | 586 | 100% |
September’s median sold price for houses and condos combined was $500,000 — a 2.0 percent increase over August’s median sold price of $490,000 for combined sales of houses and condos. Year-over-year, September’s number is up 19.0 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 |
| Sep 2021 | 586 | $530,000 | $301.13 | 45 | 538 | 817 |
| Aug 2021 | 561 | $530,000 | $300.79 | 43 | 518 | 820 |
| Jul 2021 | 640 | $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 | $492,000 | $272.44 | 41 | 211 | 778 |
| Mar 2021 | 475 | $480,000 | $261.58 | 42 | 226 | 768 |
| Feb 2021 | 386 | $450,000 | $258.20 | 43 | 257 | 698 |
| Jan 2021 | 377 | $449,900 | $253.12 | 54 | 167 | 628 | Dec 2020 | 554 | $449,800 | $251.44 | 50 | 218 | 621 |
| Nov 2020 | 606 | $452,520 | $242.69 | 52 | 278 | 797 |
| Oct 2020 | 630 | $455,500 | $237.11 | 50 | 385 | 979 |
| Sep 2020 | 699 | $440,000 | $239.25 | 49 | 432 | 1,013 |
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 – October 6, 2021. Note: This information is deemed reliable, but not guaranteed.
For historical home sale data dating back to 1998 click here.
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