Mid-Year 2021 Market Report for the Reno/Sparks Region Market Trends For more information about the real estate market, or to search for homes, visit DicksonRealty.com.
Mid-Year 2021 Market Report for the Reno/Sparks Region
Market Trends
For more information about the real estate market, or to search for homes, visit DicksonRealty.com.
Reno/Sparks Regional Price Map2nd Quarter 2021, as of June 30, 2021 (Data source: NNRMLS)
SINGLE�FAMILYMedian Sales $$ ��������Year to year change +�����
Average Price/SF �������
CONDOMedian Sales $$ ��������Year to year change + 13.5%
Average Price/SF �������
NORTH�VALLEYS
SINGLE�FAMILYMedian Sales $$ ��������Year to year change +27.1%
Average Price/SF �������
CONDOMedian Sales $$ ��������Year to year change +11.8%
Average Price/SF �������
SPANISH�SPRINGS
SINGLE�FAMILYMedian Sales $$ ��������Year to year change +26.8�
Average Price/SF �������
CONDOMedian Sales $$ ��������Year to year change +31.6%
Average Price/SF �������
NORTH�URBAN
SINGLE�FAMILYMedian Sales $$ ��������Year to year change +�����
Average Price/SF �������
CONDOMedian Sales $$ ��������Year to year change +22%
Average Price/SF �������
NEW�NORTHWEST
SINGLE�FAMILYMedian Sales $$ ��������Year to year change +23.7�Average Price/SF �������
CONDOMedian Sales $$ ��������Year to year change +10.1%Average Price/SF �������
OLD�SOUTHWEST
SINGLE�FAMILYMedian Sales $$ ����������Year to year change +49.7%Average Price/SF �������
CONDOMedian Sales $$ ��������Year to year change ������Average Price/SF �������
NEW�SOUTHWEST
Median Sales $$ ��������Year to year change ������
Average Price/SF �������
CONDOMedian Sales $$ ��������Year to year change ������
Average Price/SF �������
SPARKS
SINGLE�FAMILY
SINGLE�FAMILY
CONDOMedian Sales $$ ��������Year to year change ������Average Price/SF �������
Median Sales $$ ��������Year to year change ������Average Price/SF �������
OLD�SOUTHEAST
Median Sales $$ ��������Year to year change +26.9�Average Price/SF �������
Median Sales $$ ��������Year to year change ������Average Price/SF �������
SINGLE�FAMILY CONDONEW�SOUTHEAST
Reno/Sparks Regional Price Map2nd Quarter 2021, as of June 30
Data Source: Northern NV Regional MLS (NNRMLS)
Reno/Sparks Market OverviewOur local housing market has good news for buyers with
another monthly increase in inventory to help meet the
sustained high demand. As of July 1, 2021, there were 299
homes available for purchase which is an increase of nearly
12% over last month. Although inventory is down 54%
compared to June of 2020, today’s low inventory numbers
don’t necessarily mean fewer homes are being listed or sold.
We actually have more sales this year than last year at this
time. Demand for the homes that are coming to market is
one of the biggest causes for the low inventory numbers
that we are seeing.
Months or Days of Inventory is typically how REALTORS
refer to the amount of time it would take to sell all existing
homes for sale if no additional homes entered the market.
For homes priced under $400,000, we have 5 days of
inventory in Reno/Sparks, and for homes in the range of
$400,000 to $700,000, inventory is 13 days.
For inventory of homes priced in the mid to upper price
ranges, we have about 36 days of inventory in the $700,000 to $1,000,000 price range. Inventory in the $1,000,000 to
$1,500,000 price range is 38.5 days. For homes priced over $1,500,000, we have a 2.2 month supply. A five to six month supply
of homes historically represents a balanced market, where neither buyers nor sellers have a distinct advantage. Sellers typically
have a greater negotiation advantage when the supply of inventory is low.
We’ve had 2,991 year-to-date home sales as of the end of June,
2021. That is a 9.4% increase from the same period in 2020.
Breaking down the home sales this year, we see that:
• 80% of sales were under $700,000
• 11.3% of sales were between 700,000 and $1,000,000
• 8.7% of sales were over $1,000,000.
Low mortgage rates make this an excellent time to enter the
market or move up to a home that better meets the needs of
your lifestyle. A professional real estate agent with negotiation
and market expertise is one of your best assets when buying
or selling.
If you have any questions about this report or would like
to take a deeper look into the market conditions of your
neighborhood, please reach out. It would be a pleasure to
assist you.
1.3 MILLION GLOBAL TRANSACTIONS
550 COMPANIES
4,600 OFFICES
150,000 SALES ASSOCIATES
70 COUNTRIES
INDUSTRY-LEADING
SALES.WORLD-CLASS
SERVICE.
© 2021 Leading Real Estate Companies of the World.® All Rights Reserved.
C–Sales Volume. 05.21 Equal Housing Opportunity.
I’M LOCAL I’M GLOBAL®
Volume shown in billions of dollars. This bar chart is sourced from REAL Trends 500 for 2020, realtrends.com.
MORE U.S. HOME SALES VOLUME THAN ANY OTHER REAL ESTATE NETWORK, FRANCHISE OR BROKERAGE BRAND. $296 BILLION IN U.S. HOME SALES VOLUME.
As an affiliate of Leading Real Estate Companies of the World,® Dickson Realty is a local and global market leader working on your behalf. LeadingRE’s world-class marketing resources and connections allow us to provide you with a truly exceptional real estate experience.
$29
$0 $50 $100 $150 $200 $250 $300
$296 Leading Real Estate Companies of the World®
$260
$207
$110
$152
$96
$97
$72
$37
$29
$23
$20
$11
$11
Leading Real Estate Companies of the World®
Keller Williams
Coldwell Banker
Compass
Berkshire Hathaway HomeServices
Sotheby’s International Realty
RE/MAX
eXp Realty
Redfin
Century 21
Douglas Elliman
Homesmart
Corcoran
Better Homes and Gardens
ERA
1.3 MILLION GLOBAL TRANSACTIONS
550 COMPANIES
4,600 OFFICES
150,000 SALES ASSOCIATES
70 COUNTRIES
INDUSTRY-LEADING
SALES.WORLD-CLASS
SERVICE.
© 2021 Leading Real Estate Companies of the World.® All Rights Reserved.
C–Sales Volume. 05.21 Equal Housing Opportunity.
I’M LOCAL I’M GLOBAL®
Volume shown in billions of dollars. This bar chart is sourced from REAL Trends 500 for 2020, realtrends.com.
MORE U.S. HOME SALES VOLUME THAN ANY OTHER REAL ESTATE NETWORK, FRANCHISE OR BROKERAGE BRAND. $296 BILLION IN U.S. HOME SALES VOLUME.
As an affiliate of Leading Real Estate Companies of the World,® Dickson Realty is a local and global market leader working on your behalf. LeadingRE’s world-class marketing resources and connections allow us to provide you with a truly exceptional real estate experience.
$29
$0 $50 $100 $150 $200 $250 $300
$296 Leading Real Estate Companies of the World®
$260
$207
$110
$152
$96
$97
$72
$37
$29
$23
$20
$11
$11
Leading Real Estate Companies of the World®
Keller Williams
Coldwell Banker
Compass
Berkshire Hathaway HomeServices
Sotheby’s International Realty
RE/MAX
eXp Realty
Redfin
Century 21
Douglas Elliman
Homesmart
Corcoran
Better Homes and Gardens
ERA
Incline Village Market Overview
Demand remains strong and market times
are very fast in the Incline Village market.
Median prices for single family homes
and condos are up double digits when
comparing June 2020 to June 2021.
With low standing inventories, this is a
great time to sell a home in the Incline
Village and Crystal Bay area.
If you are curious about your property’s
value and your options for selling or
buying, a professional REALTOR® with
negotiation and market expertise on your
side is an invaluable asset.
Please reach out if you have any questions
about buying or selling in the Lake Tahoe
Region.
DicksonRealty.com | [email protected]
© 2021 --- Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy. If your property is currently listed for sale, this is not intended to be a solicitation.
DOWNTOWN RENO CAUGHLIN RANCH DAMONTE RANCH SOMERSETT MONTRÊUX SPARKS775.324.7000 775.746.7000 775.850.7000 775.746.7222 775.849.9444 775.685.8800
TRUCKEE PORTOLA NORTHSTAR 530.587.7444 530.832.1700 530.562.1140