Geeky Market Report for June 2025
Here is my Geeky Market Report for June 2025. If you’re short on time, here are the key highlights:
- The median home price in Reno is up 6.7% year-over-year.
- The median home price in Sparks is up 4.3% year-over-year.
- Interest rates are in the high 6% range.
- Inventory has increased and overall pricing is stable.
See the charts below for more details.
Reno Median Home Price in June 2025
The median home price in Reno rose to $672,500 in June 2025, representing an increase of 5.8% from last month, as well as 6.7% from June 2024.
Sparks Median Home Price in June 2025
In June, the median home price in Sparks went up to $557,000. This was an increase of 0.4% from May, but a 1.4% decrease from June 2024.
Inventory
During June, 715 homes and condos were added to the market. By the end of the month, 509 sold, leaving 1,525 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 3 months.
Interest Rates
By the end of June 2025, interest rates were averaging around 6.77%. This is down 12 basis points from the end of May, 9 basis points from the same period last year.*
Thoughts for the June 2025 Market
June 2025 was an interesting month for our market. Reno saw a significant increase in median home price at $672,500, while Sparks remained relatively stable at $557,000K. When it comes to inventory new listings were down from last month by 6.5%. Closed sales were also down from May, but up 6% from June 2024. while active inventory is up by 9.7%, giving buyers more options when looking for a home in the marketplace. Additionally, the median days to contract was at 22, up from 18 in May. So, what does this all mean?
For Home Buyers Looking in the Reno/Sparks Market
Increased inventory equals options. When buyers have options, most sellers will need to make concessions to get their home sold. Whether that is in price, closing credits, or repairs, they will need to negotiate to get their home sold. This presents a great opportunity for buyers to secure the home they want.
For Sellers Looking to Sell Their Reno/Sparks Home
Due to increased competition, it is important to make sure that your home is market ready when selling. Homes that are attractive to buyers, and are priced appropriately get the most attention, and will sell.
Conclusion
The Reno/Sparks market is still stable with a slight advantage towards sellers, but there are areas of our market where that is changing, and buyers are finding good deals. Now more than ever, it is important to hire an agent that understands the nuances of our market.
If you are looking to buy or sell, call or text me at 775-351-9413.
