Page 1

MICROMARKET REPORT |

RENO/SPARKS • YEAR END 2019


MAP | Reno / Sparks

tahoemicroreports.com


RENO/ SPARKS market update Northern Nevada’s largest metropolitan area, Reno/Sparks, is a thriving population center surrounded by the magnificent Sierra Nevada range. Just east of Reno, Sparks is a municipality of its own, but considered a sister city. Leaders of industry such as Tesla, Panasonic, Apple, Amazon and many more have taken advantage of Nevada’s business-friendly tax environment, establishing centers just outside Reno-Sparks’ borders.

5 YEAR TRENDS January through December Median Price Properties Sold

2015

2016

2017

2018

2019

$288,500

$310,000

$349,000

$375,000

$395,000

4187

4324

4682

4248

4331

Regarded as a a true outdoor paradise, dozens of ski resorts, golf courses, hiking and biking trails and bodies of water, including Lake Tahoe, are within a 30-to-60-minute drive — some even directly in town. Many residential districts are scattered throughout the two towns, each with their own character and appeal. Notable historic architects such as Frederic DeLongchamps and Edward Parsons, among many others, contributed to Reno’s diverse architectural landscape. Stunning homes both new and longstanding are spread across the region. Styles range from Queen Anne and Arts and Crafts, to Mid-Century Modern and revivalist styles, even futuristic. At an elevation of approximately 4,500 feet, the region’s more than 300,000 residents have easy access to the Bay Area via Interstate 80, which runs through the its center, as well as boundless other road trip possibilities. The world is also within reach through the conveniently located Reno-Tahoe International Airport. The region is home to multiple nationally renowned events including the National Championship Air Races, the Great Reno Balloon Race, Hot August Nights, the monthlong Artown festival. Reno also serves as the gateway to the annual Burning Man Festival. Along with its numerous casino resorts, there is never a lack of entertainment in the area. The boundless energy and residential opportunities make Reno/Sparks and inviting area to invest in or to call home. sierrasothebysrealty.com

Based on Information from the Northern Nevada MLS. This representation is based in whole or in part on data supplied by the Northern Nevada MLS. The Northern Nevada MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by Northern Nevada MLS may not reflect all real estate activity in the market.

MICROMARKET REPORT | Reno/Sparks JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


ALL SOUTHWEST | Single Family January through December

2018

2019

% Change

Median Price

$678,000

$645,250

-5%

Average Sold Price

$812,996

$809,761

0%

111

109

-2%

Highest Sold Price

$4,900,000

$4,500,000

-8%

Lowest Sold Price

$235,000

$160,000

-32%

867

862

-1%

97%

98%

1%

$704,867,596

$698,014,242

-1%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

ALL SOUTHWEST | Condo January through December Median Price

2018

2019

% Change

$260,000

$290,000

12%

$251,799

$275,013

9%

79

92

16%

Highest Sold Price

$610,000

$600,000

-2%

Lowest Sold Price

$80,000

$80,000

0%

120

148

23%

98%

98%

-1%

$30,215,897

$40,701,963

35%

Average Sold Price Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

Pictured 1950 Meadowview Lane, Reno | $2,299,000

9%

Condos in Southwest Reno saw a 9% price improvement in 2019 for an average sold price of $275,013.

SOUTHWEST | Single Family January through December

2018

2019

% Change

Median Price

$549,900

$535,000

-3%

Average Sold Price

$595,000

$578,338

-3%

96

88

-8%

Highest Sold Price

$2,465,000

$1,300,000

-47%

Lowest Sold Price

$305,000

$160,000

-48%

Properties Sold

285

308

8%

% Sold Price to Average List Price

97%

97%

0%

$169,753,976

$178,128,327

5%

Average Days on Market

Total Dollar Volume Sold

tahoemicroreports.com


WEST SOUTHWEST | Single Family January through December

4%

The average sold price for West Southwest increased by 4% January through December 2019 compared to that of 2018.

2018

2019

% Change

Median Price

$627,500

$678,000

8%

Average Sold Price

$773,358

$800,662

4%

120

122

2%

Highest Sold Price

$2,000,000

$2,300,000

23%

Lowest Sold Price

$340,000

$350,000

3%

124

141

14%

99%

99%

0%

$95,896,406

$112,893,408

18%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

OLD SOUTH SUBURBAN | Single Family January through December

Bordering both the Downtown corridor and Reno’s emerging Midtown district, Old Southwest Reno is a vibrant and historic neighborhood with roots stretching back to the city’s founding.

2018

2019

% Change

Median Price

$634,500

$610,000

-4%

Average Sold Price

$882,310

$829,627

-6%

146

94

-36%

Highest Sold Price

$3,949,000

$3,000,000

-24%

Lowest Sold Price

$235,000

$290,000

23%

88

79

-10%

95%

95%

-1%

$77,643,290

$65,540,550

-16%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

SOUTH SUBURBAN | Single Family January through December

2018

Median Price

$800,000

$815,000

2%

Average Sold Price

$866,790

$906,491

5%

94

104

11%

Highest Sold Price

$2,900,000

$2,675,000

-8%

Lowest Sold Price

$434,000

$385,995

-11%

241

231

-4%

97%

98%

1%

$208,896,554

$209,399,617

0%

Average Days on Market

Properties Sold % Sold Price to Average List Price Pictured 11080 Dryden Drive, Reno | $1,195,000

Total Dollar Volume Sold

2019

% Change

MICROMARKET REPORT | Reno/Sparks sierrasothebysrealty.com

JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


SOUTHWEST SUBURBAN | Single Family January through December Median Price

2018

2019

% Change

$965,000

$1,178,832

22%

$1,183,530

$1,275,070

8%

143

173

21%

Highest Sold Price

$4,900,000

$4,500,000

-8%

Lowest Sold Price

$275,000

$370,000

35%

129

104

-19%

97%

98%

1%

$152,675,370

$132,607,340

-13%

Average Sold Price Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

8% The average price for the neighborhood of Southwest Suburban increased by 8% January through December 2019 compared to that of 2018.

SOUTH MEADOWS | Single Family January through December

2018

2019

% Change

Median Price

$440,000

$460,000

5%

Average Sold Price

$465,924

$489,374

5%

73

100

37%

Highest Sold Price

$1,050,000

$1,557,995

48%

Lowest Sold Price

$285,000

$280,000

-2%

586

659

12%

99%

98%

-1%

$273,031,596

$322,497,655

18%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

NORTHWEST FOOTHILLS\SOMERSETT January through December

2018

2019

% Change

Median Price

$482,000

$489,000

1%

Average Sold Price

$530,628

$553,935

4%

88

96

9%

Highest Sold Price

$1,850,000

$1,970,000

6%

Lowest Sold Price

$305,000

$305,000

0%

283

288

2%

99%

98%

-1%

$150,167,981

$159,533,483

6%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

Located on the far reaches of Northwest Reno, Sommersett is a master-planned community covering 3000 acres of land. There is plenty of room for the hiking and biking trails, golf course and 3700 homes.

tahoemicroreports.com


SPARKS | Single Family January through December

2018

Median Price

$310,000

5%

$311,489

$327,512

5%

70

85

21%

Highest Sold Price

$825,000

$975,000

18%

Lowest Sold Price

$125,000

$86,000

-31%

384

732

91%

99%

99%

0%

$213,059,002

$239,738,940

13%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

January through December 2019, the average price in Spanish Springs increased by 6% compared to that of 2018.

% Change

$295,000

Average Sold Price

6%

2019

SPANISH SPRINGS | Single Family January through December

2018

Median Price

2019

% Change

$390,000

$410,000

5%

$418,416

$442,943

6%

76

88

16%

Highest Sold Price

$1,680,000

$1,200,000

-29%

Lowest Sold Price

$255,000

$255,000

0%

739

746

1%

99%

99%

0%

$309,210,067

$330,435,920

7%

Average Sold Price Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

FERNLEY | Single Family January through December

2018

2019

% Change

Median Price

$252,000

$265,800

5%

Average Sold Price

$262,207

$279,722

7%

91

100

10%

Highest Sold Price

$580,000

$545,000

-6%

Lowest Sold Price

$50,000

$117,000

134%

637

577

-9%

99%

99%

0%

$167,025,987

$161,400,125

-3%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

MICROMARKET REPORT | Reno/Sparks sierrasothebysrealty.com

JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


The life you love.

sierrasothebysrealty.com | tahoemicroreports.com Based on Information from Northern Nevada Regional MLS. This representation is based in whole or in part on data supplied by Northern Nevada Regional MLS. Northern Nevada Regional MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by Northern Nevada Regional MLS may not reflect all real estate activity in the market.

Profile for Sierra Sotheby's International Realty

Reno 2019 Year End Real Estate Market Report  

2019 Year End real estate market statistics for Reno, Nevada including South, Southwest and South Suburban, and the Northwest Foothills/ Som...

Reno 2019 Year End Real Estate Market Report  

2019 Year End real estate market statistics for Reno, Nevada including South, Southwest and South Suburban, and the Northwest Foothills/ Som...