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 | info@dicksonrealty.com

© 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.

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