RSAR Releases January 2022 Existing Home Sales Report


Key Market Insights

RENO, Nevada – The Reno/Sparks Association of REALTORS® (RSAR) today released its January 2022 report on existing home sales in Reno/Sparks and Fernley, including median sale price and number of sales. of houses in the area. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service.

Official logo of the Reno/Sparks Association of REALTORS® (RSAR). Logo courtesy of RSAR.

During the month of January 2022, RSAR saw…

Price appreciation remained robust, and the median selling price of an existing home in the area topped $570,000 in January.

Business activity slowed from the previous month’s levels.

The 400 new listings on the market in January were 33% higher than the inventory of 300 in December.

“Prices remain very high and homes were under contract an average of just seven days after they went on sale in January,” said Sarah Scattini, president of the Reno/Sparks Association of REALTORS®. “The slowdown in selling activity compared to the same period last year, however, suggests that rising mortgage interest rates may begin to cool the market.”

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More information, broken down by region, is provided below. All sales figures are for “stick-built single family homes” only and do not include condominiums, townhouses, manufactured, modular or newly constructed homes, unless otherwise noted.

-Reno/Sparks

In January 2022, Reno/Sparks had 398 existing single-family home sales, down 24.5% from the prior month and up 4.2% from the prior year.

The median sale price for an existing single-family residence in Reno/Sparks was $570,000, up 26.7% from a year ago and 4.6% from the previous month.

The median sale price of an existing condominium/townhouse in Reno/Sparks in January 2022 was $330,000, an increase of 33.1% over last year.

-Reno (including Northern Valleys)

In January 2022, Reno (including North Valleys) had 275 sales of existing single-family homes, down 26.5% from the previous month and no change from the previous year.

The median sale price for an existing single-family residence in Reno (including North Valleys) was $600,000, up 27.1% from last year and up 7.9% from to the previous month.

The median sale price of an existing condominium/townhouse in Reno (including North Valleys) in January 2022 was $372,000, an increase of 30.5% over last year.

-Sparks (including Spanish Springs)

In January 2022, Sparks (including Spanish Springs) had 123 existing single-family home sales, an increase of 15% from last year and a decrease of 19.6% from the previous month.

The median sale price for an existing single-family residence was $520,000, up 22.4% from a year ago and up 1.2% from the previous month.

The median sale price of existing condominiums/townhouses for January 2022 was $306,950, an increase of 55.4% over last year.

-Fernley

In January 2022, Fernley recorded 42 existing single-family home sales, down 20.8% from a year ago and down 2.3% from the previous month.

The median sale price for an existing single-family residence was $375,000, up 21% from a year ago and up 3.6% from the previous month.

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About the Reno/Sparks Association of REALTORS® (RSAR):

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 to protect and promote consumers’ dream of home ownership. For more information, visit rsar.real estate agent.

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