2020 at a glance. The average single family home price in Reno/Sparks for 2020 was $510,798!

$510,798. This was the average sales price of a single-family home in the Reno-Sparks real estate market in 2020. Despite the disruption of the Covid-19 pandemic (and in some ways because of it), it was a great year for homeowners in the Reno-Sparks area. NOTE: This information is based on information from the Northern Nevada Regional Multiple Listing Service pulled on the morning of January 5, 2020. This data may slightly change as a result of untimely Realtor data entry.

2020 yielded substantial average price increases from 2019. The average sales price in 2020 for all residential properties (including single family residences, condominiums, and manufactured homes) in the Reno-Sparks real estate market was $464,752. This is an increase of 12.39% from the average sales price of $413,500 in 2019. Likewise, the median sales price in 2020 was $397,500, an increase of 10.42% from 2019.

Listings decreased substantially from 2019. Despite significant population growth, only 8,474 homes were listed for sale in 2020. This is a substantial decrease from prior years. In 2019, 9,250 homes were listed for sale. In 2018, 9,409 homes were listed. As this data is compiled from the Multiple Listing Service (MLS), it includes some, but not all, new construction sales. Builders do not list all homes they sell on the MLS. However, total new construction sales numbers will be available from the Washoe County Assessor in a few weeks. The percentage of new construction sales in the total sales for the year recording on the MLS slightly increased in 2020. There will be more discussion on that in a couple of weeks.

the orange area depicts homes built in the year of sale or the year prior.

In 2020, the number of listings went down, but the number of sales went up. Even though there were substantially less listings, more of these listings sold. In fact, nearly as many homes sold in 2020 as were listed in 2020. And more homes were sold in 2020 than were sold in 2019. In 2020, 8,474 homes were listed, and 8,137 homes sold (96% of listings). This is a significant improvement over 2019. In 2019, 9,250 homes were listed, but only 7,914 homes sold (86% of total listings). And 2019 was an improvement over 2018, where 9,409 homes were listed and 7,444 homes sold (79% of total listings).

The number of listings that failed to sell dropped substantially in 2020. In 2019, 1,714 listings expired or were withdrawn without successfully selling. In 2020, only 916 listings expired or were withdrawn. In short, only a small percentage of homes listed in 2020 failed to sell.

In short, 2020 was a great home for those needing to sell their home. In 2021 thus far, that trend seems to continue.