Geeky Market Report for February 2026
Here is my Geeky Market Report for February 2026. If you’re short on time, here are the key highlights:
- The median home price in Reno was up 4% year-over-year.
- The median home price in Sparks was down 1.9% year-over-year.
- Interest rates were just under 6%.
- Inventory has decreased, and overall pricing stayed strong.
See the charts below for more details.
Reno Median Home Price in February 2026
The median home price in Reno rose to $639,500 in February 2026, representing an increase of 9.3% from last month, as well as an increase of 4% from February 2025.
Sparks Median Home Price in February 2026
In February, the median home price in Sparks went up to $534,990. This was an increase of 1.9% from January, as well as an increase of 1.9% from February 2025.
Inventory
During February, 436 homes and condos were added to the market. By the end of the month, 371 sold, leaving 837 listings available for purchase. At this rate of sale, if no other homes are added to the market, there would be enough inventory to satisfy buyer demand for 2.3 months.
Interest Rates
By the end of February 2026, interest rates were averaging around 5.98%. This is down 12 basis points from the end of January, and down 78 basis points from the same period last year.*
Thoughts for the Reno/Sparks Housing Market
In February, the median price bounced back up for Reno and steadily climbed for Sparks. This is all due to low inventory and high buyer demand. New listings were down 16.3% from last year, and active inventory was down 19.1%. Coupled with the fact that rates were at their lowest point in over a year, sellers are definitely gaining ground. Here are a few additional key market stats that showed the sellers' advantage in February:
- On average sellers were getting 98.8% of their list price.
- Median days to contract is 25.
- 22.8% of homes sold over the list price.
- 22.5% were cash sales.
So, what does this all mean?
For Home Buyers Looking in the Reno/Sparks Market
Inventory is still low, and with the shift in interest rates, buyer demand is high. There has been an increase in homes receiving multiple offers, and staying competitive is key. That said, if the right home comes along, it would be better to act fast, and submit an offer so you have a better chance of securing it.
For Sellers Looking to Sell Their Reno/Sparks Home
Though interest rates have come down and inventory is low, affordability is key. If your home is priced too high, or if it is not in market-ready condition, it will get passed over by many, if not all, of the buyers out there. To maximize your chances of selling and getting the most out of your home, finishing repairs, staging, curb appeal, and pricing in line with the market is the way to go.
Conclusion
The low inventory in the Reno/Sparks market, along with lower rates, has created a strong environment for sellers.
If you are looking to buy or sell, call or text me at 775-351-9413.
