Geeky Market Report for September 2025
Here is my Geeky Market Report for September 2025. If you’re short on time, here are the key highlights:
- The median home price in Reno is down 2.8% year-over-year.
- The median home price in Sparks is down 0.3% 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 September 2025
The median home price in Reno dropped to $615,000 in September 2025, representing a decrease of 0.4% from last month, as well as a decrease of 2.8% from September 2024.
Sparks Median Home Price in September 2025
In September, the median home price in Sparks went down to $553,500. This was a decrease of 1.4% from August, as well as a 0.3% decrease from September 2024.
Inventory
During September, 522 homes and condos were added to the market. By the end of the month, 496 sold, leaving 1,481 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 September 2025, interest rates were averaging around 6.3%. This is down 26 basis points from the end of August, but up 22 basis points from the same period last year.*
Thoughts for the September 2025 Market
In September, the Reno and Sparks housing markets softened, with median home prices dipping both month-over-month and year over year. This shift is largely due to sustained high mortgage rates combined with the build-up of inventory throughout spring and summer.
Here are a few key stats that show how the market is balancing out:
- Median days to contract increased to 40 days.
- On average, sellers received 98.3% of their list price.
- Only 15.2% of homes sold over their list price.
So, what does this all mean?
For Home Buyers Looking in the Reno/Sparks Market
As we go into the late fall, early winter market, overall buying and selling activity drops. Most sellers would like to list their homes during the spring or summer when there are more active buyers. So, the sellers who list their homes in the winter time usually have a compelling reason to sell, and are likely open to negotiating on price, and terms in order to get their home sold before the end of the year. This coupled with the fact that there are fewer buyers out there shopping, gives you an unique advantage, and can be a great time to get a good deal on a home.
For Sellers Looking to Sell Their Reno/Sparks Home
Buyer activity drops during the last part of the year, so it is important to take every interested buyer seriously, especially since offers will be few and far between. In addition, since there will be less inventory on the market, buyers will become more aware of what is available, and it is important to make sure that your home is in good selling condition, and is priced correctly to avoid being passed over by buyers.
Conclusion
The Reno/Sparks market is still stable, and would technically be considered a seller’s market, but sustained interest rates, and increased inventory is helping balance that out.
If you are looking to buy or sell, call or text me at 775-351-9413.
