Reno-Sparks Real Estate Market Report 

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Here are the latest market stats for Reno & Sparks. These stats reflect what has happened in the market up until the end of the previous month (March).  

Please note that the arrows represent an up-or-down in the values, not whether it is 'good' or 'bad'. For example, days on contract may show a red arrow but that means that properties are selling faster than they were the month before.

Months Supply of Inventory (also known as absorption rate) is the amount of time it would take to sell all existing homes on the MLS if no new listings came on the market. Typically a 5-6 month supply is considered a 'balanced market' (not leaning in favor of either buyer or seller.  Less than 6 months is considered "seller's market" while more than 6 months is considered a "buyers market".

This is the latest Housing Affordability Chart for Greater-Reno Sparks. As you can see the market remains on an upward trend with Q1 having a median home value of $570,000 which is a 5.6% increase from the prior quarter and a 23.6% increase from the same quarter in the prior year.

If you or someone you know has questions about these statistics or real estate in our area, please don't hesitate to reach out to me.