Looking over Northern Nevada Business Weeklys median home price report, it’s great to see that despite the Covid-19 crisis, the Reno-Sparks median sales price is holding strong. Not only is it holding strong, but it’s also increasing. It increased year over year from $377,000 in 2019 to $416,500 in 2020. It also increase 0.4% month over month from $415,000 in March 2020 to $416,500 in April 2020. The was a decrease in the number of units sold, but this can most likely be contributed to Nevada’s Stay at Home Directives. Yesterday, I posted Carson City’s median home price report for April 2020 (view report). It shows a small drop in the median sales price. It dropped month over month and year over year.
Despite Carson City’s report, I believe all the Northern Nevada real estate markets continue to hold strong through it all. I’m also experiencing the same positive results with with my own buyers and sellers. I’m eager to see what the May and June reports bring! With Nevada businesses reopening and people getting back to work, the upcoming reports will be a more accurate reflection of how the pandemic is impacting our market.
During this unchartered time many people have questions about the market or issues they may be facing in real estate. Please feel free to reach out with any questions or concerns you might have about real estate in Carson City, Reno, and/or surrounding areas. I’m also happy to provide any additional reports or real estate related resources I have available to me.
– Megan LoPresti, RCM Realty Group
According to RSAR, the median price for a single-family set another record at $416,500 in April, an increase of 10.5% from last year. This comes despite a 39.8% decrease in number of homes sold compared to April 2019.