Geeky Market Report for January 2026
Here is my Geeky Market Report for January 2026. If you’re short on time, here are the key highlights:
- The median home price in Reno is down 1% year-over-year.
- The median home price in Sparks is down 1.3% year-over-year.
- Interest rates are in the low 6% range.
- Inventory has decreased, and overall pricing is stable.
See the charts below for more details.
Reno Median Home Price in January 2026
The median home price in Reno fell to $585,000 in January 2026, representing a decrease of 14% from last month, as well as a decrease of 0.9% from January 2025.
Sparks Median Home Price in January 2026
In January, the median home price in Sparks went down to $525,000. This was an increase of 1.6% from December, but a decrease of 1.3% from January 2025.
Inventory
During January, 484 homes and condos were added to the market. By the end of the month, 335 sold, leaving 934 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 2.8 months.
Interest Rates
By the end of January 2026, interest rates were averaging around 6.1%. This is down 14 basis points from the end of December 2025, but down 94 basis points from the same period last year.*
Thoughts for the Reno/Sparks Housing Market
In January, the median house price in Reno dropped significantly from where it was in December, but was almost unchanged from January 2025. This is a normal part of our market cycle. It is typical to see the median price drop in January. Also, interest rates have been on a downward trajectory over the last year, being at their lowest point in over 12 months. If rates continue to trend downward, along with inventory, we’re likely to see home values strengthen.
So, what does this all mean?
For Home Buyers Looking in the Reno/Sparks Market
Inventory is still low, but as we go into the late winter/early spring market, we start to see an increase in the number of new listings hitting the market, giving you more options to pick from. However, the number of buyers also increases which creates more competition. That said, if the right home comes along, it would be better to act fast, and submit an offer than wait to see what happens.
For Sellers Looking to Sell Their Reno/Sparks Home
Though interest rates have come down, and there is an increase in buyer activity, they still remain elevated. Couple that with high prices, and buyers are facing affordability challenges. This causes buyers to be more selective in their home choices. That being said, if you’re trying to sell, the condition of your property matters. If buyer’s see a lot of work, they will likely pass over it for something that is turn-key.
Conclusion
The Reno/Sparks market is compressed with low inventory, and high buyer demand, demonstrating challenges for both buyers and sellers, and requiring give and take from both sides.
If you are looking to buy or sell, call or text me at 775-351-9413.
