RENO, Nev. (775 Times, NV Globe) – The December 2022 report from the Reno/Sparks Association of REALTORS® (RSAR) on existing house sales in Reno/Sparks and Fernley, includes the median sales price and the quantity of home sales in the area.

The Northern Nevada Regional Multiple Listing Service is where RSAR gets its data.

The RSAR observed in the month of December.

• 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.”

Below is further information broken down by region. Except when otherwise noted, all sales figures refer to existing “stick built, single-family houses” solely and exclude condos, townhomes, manufactured, modular, and newly built homes.

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.

Credits: 2 NEWS

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