Reno Real Estate Blog

Geeky Market Report for July 2025

Here is my Geeky Market Report for July 2025. If you’re short on time, here are the key highlights:

• The median home price in Reno is down 5.9% year-over-year.
• The median home price in Sparks is down 1.8% year-over-year.
• Interest rates are in the high 6% range.
• Inventory has increased and overall pricing is softening.

See the charts below for more details.

Reno Median Home Price in July 2025

The median home price in Reno dropped to $630,000 in July 2025, representing a decrease of 5.9% from last month, as well as 5.9% from July 2024.

Sparks Median Home Price in July 2025

In July, the median home price in Sparks went down to $550,000. This was a decrease of 1.3% from June, as well as a 1.8% decrease from July 2024.

Inventory

During July, 650 homes and condos were added to the market. By the end of the month, 500 sold, leaving 1,567 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 3.1 months.

Interest Rates

By the end of July 2025, interest rates were averaging around 6.72%. This is down 5 basis points from the end of June, and 6 basis points from the same period last year.*

Thoughts for the July 2025 Market

In July, the Reno and Sparks housing markets softened, with median home prices dipping both month-over-month and compared to July 2024. 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 30 days.
• On average, sellers received 98.7% of their list price.
• Only 17.6% of homes sold over their list price.

So, what does this all mean?

For Home Buyers Looking in the Reno/Sparks Market

With summer wrapping up and inventory at its peak, now is a great time to find value. More homes on the market means more choices and stronger negotiating power. Many sellers are offering concessions such as closing cost credits, price reductions, or repair allowances to attract buyers. If you’ve been waiting for the right time to make a move, this could be your window.

For Sellers Looking to Sell Their Reno/Sparks Home

Competition is heating up. Inventory levels are at their highest since November 2022, so pricing your home right is crucial. Along with price, condition and location play a big role in standing out. Sellers who position their homes competitively and make them show-ready are still finding success, even in this shifting market.

Joshua Skroch

The Reno/Sparks Real Estate Geek

I serve families in the Reno-Sparks area who are done with slick salesmen and just want a REALTOR® who’s on their side and will fight for them. I help get you exactly what you want, which is the best price for the home you’re selling or the best value for the home you want. Read more about me

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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.

Joshua Skroch

The Reno/Sparks Real Estate Geek

I serve families in the Reno-Sparks area who are done with slick salesmen and just want a REALTOR® who’s on their side and will fight for them. I help get you exactly what you want, which is the best price for the home you’re selling or the best value for the home you want. Read more about me

Text MeCall MeI need to sell my homeSend Message

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Geeky Market Report for April 2025

Here is my Geeky Market Report for April 2025. If you’re short on time, here are the key highlights:

• The median home price in Reno is up 8.4% year-over-year.
• The median home price in Sparks is up 4.3% year-over-year.
• Interest rates are in the high 6% range.
• Despite high interest rates, low inventory is continuing to keep home prices stable.

See the charts below for more details.

Reno Median Home Price in April 2025

The median home price in Reno rose to $637,500 in April 2025, representing an increase of 5.4% from last month, as well as 8.4% from April 2024.

Sparks Median Home Price in April 2025

In April, the median home price in Sparks went up to $555,000. This was an increase of 0.9% from March, and a 4.3% increase from April 2025.

Inventory

During April, 674 homes and condos were added to the market. By the end of the month, 476 sold, leaving 1120 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 2.4 months.

Interest Rates

By the end of April 2025, interest rates were averaging around 6.81%. This is up 16 basis points from the end of March, but down 36 basis points from the same period last year.*

Thoughts for the April 2025 Market

In April 2025, the Reno and Sparks housing market continued to heat up. Both cities saw increases in median home prices, both month-over-month and year-over-year. Alongside rising home values, there was an uptick in new real estate listings and the total number of homes sold. These trends reflect strong buyer demand—despite persistently high mortgage interest rates.

While many home buyers and sellers have been holding off in hopes of lower rates, a growing number are realizing that interest rate drops may take longer than expected. As a result, more buyers and sellers are choosing to move forward with their real estate goals now rather than waiting.

For Home Buyers Looking in the Reno/Sparks Market

With mortgage rates still elevated, finding ways to reduce your monthly mortgage payment is essential. Here are three smart strategies:

• Shop multiple mortgage lenders to find the lowest rates.
• Consider new construction homes offering special financing incentives.
• Use mortgage points to buy down your interest rate.

Exploring these options can make homeownership more affordable—even in a high-rate environment.

For Sellers Looking to Sell Their Reno/Sparks Home

As inventory increases, so does competition. Buyers facing high monthly payments often can’t afford to renovate. This makes move-in-ready homes more attractive, even at higher price points.

To stay competitive:

• Ensure your home is market-ready with minimal repair needs.
• Price your home strategically based on comparable sales and current market conditions.

Well-presented homes that are properly priced are much more likely to sell quickly in today’s market.

Joshua Skroch

The Reno/Sparks Real Estate Geek

I serve families in the Reno-Sparks area who are done with slick salesmen and just want a REALTOR® who’s on their side and will fight for them. I help get you exactly what you want, which is the best price for the home you’re selling or the best value for the home you want. Read more about me

Text MeCall MeI need to sell my homeSend Message

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Geeky Market Report for March 2025

Here is my Geeky Market Report for March 2025. 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 up 3.8% year-over-year.
• Interest rates are in the high 6% range.
• Despite high interest rates, low inventory is continuing to keep home prices stable.

See the charts below for more details.

Reno Median Home Price in March 2025

The median home price in Reno dropped to $605,000 in March 2025, representing a 1.6% decrease from last month, and a 1% decrease from March 2024.

Sparks Median Home Price in March 2025

In March, the median home price in Sparks went up to $550,000. This was an increase of 4.8% from February, and a 3.8% increase from March 2025.

Inventory

During March, 660 homes and condos were added to the market. By the end of the month, 454 sold, leaving 1076 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 2.4 months.

Interest Rates

By the end of March 2025, interest rates were averaging around 6.65%. This is down 11 basis points from the end of February, and 14 basis points from the same period last year.*

Thoughts on the March 2025 Market

In March, home prices in Reno held steady, while Sparks saw a modest uptick. Since the start of the year, both new listings and sales have been on the rise—even with higher interest rates. This ongoing low-inventory market has helped keep prices stable. So, what does this all mean?

For Home Buyers Looking in the Reno/Sparks Market

When looking to buy in a low inventory market, it is important to be prepared. When good homes go up for sale, they aren’t available for long. This is why you want to make sure you’re preapproved with a lender, have listing updates that notify you when homes you like hit the market, and make sure you have hired a great agent that can get you in to see the homes right away. Giving you the ability to secure that perfect home, and not miss out.

For Sellers Looking to Sell Their Reno/Sparks Home

Just because inventory is low, does not mean you can expect to multiple offers when you list your home. With interest rates as high as they are, most buyers want to buy something that doesn’t require a lot of work, or is overpriced. So, when you list your home, you want to make sure that it is in the best condition possible, and is priced within what the market will bear.

Joshua Skroch

The Reno/Sparks Real Estate Geek

I serve families in the Reno-Sparks area who are done with slick salesmen and just want a REALTOR® who’s on their side and will fight for them. I help get you exactly what you want, which is the best price for the home you’re selling or the best value for the home you want. Read more about me

Text MeCall MeI need to sell my homeSend Message

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Geeky Market Report for January 2025

Here is my Geeky Market Report for January 2025. If you’re short on time, here are the key highlights:

• The median home price in Reno is up 8.2% year-over-year.
• The median home price in Sparks is up 2.5% year-over-year.
• Interest rates are in the 6% range.
• Despite high interest rates, low inventory is keeping home prices stable.

See the charts below for more details.

Reno Median Home Price in January 2025

The median home price in Reno dropped to $595,500 in January 2025, representing a 7.3% decrease from last month, abut an increase of 8.2% from January 2024.

Sparks Median Home Price in January 2025

In January, the median home price in Sparks was $532,000. This was a decrease of 3.1% from December, but a 2.5% increase from January 2024.

Inventory

During January, 506 homes and condos were added to the market. By the end of the month, 360 homes sold, leaving 998 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 2025, interest rates were averaging around 6.95%. This is up 10 basis points from the end of December, and 15 basis points from the same period last year.*

Thoughts for the January 2025 Market

In January, inventory remained low, and we saw a decrease in median price both for Reno and Sparks. This is to be expected, and falls in line with our normal market cycles. Though the median prices came down from December, the year of year price is still increasing, showing that home values are still appreciating. So, what does this all mean?

For Home Buyers Looking in the Reno/Sparks Market

Though inventory is low, as we move into the new year, buyer activity increases. For instance, during January, 432 homes went into escrow, which is 20% higher than the number of closed sales during that time. And, active inventory is at its lowest point since April 2024. This means there will be greater competition amongst buyers.

For Sellers Looking to Sell Their Reno/Sparks Home

If you’re looking to sell, now can be a good time. Buyer activity is strong, and inventory is low. This puts you in a stronger position when selling.

Joshua Skroch

The Reno/Sparks Real Estate Geek

I serve families in the Reno-Sparks area who are done with slick salesmen and just want a REALTOR® who’s on their side and will fight for them. I help get you exactly what you want, which is the best price for the home you’re selling or the best value for the home you want. Read more about me

Text MeCall MeI need to sell my homeSend Message

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Geeky Market Report for December 2024

Here is my Geeky Market Report for December 2024. If you’re short on time, here are the key highlights:</>

• The median home price in Reno is up 7.4% year-over-year.
• The median home price in Sparks is up 4.5% year-over-year.
• Interest rates are heading back toward the 7% range.
• Despite high interest rates, low inventory is keeping home prices stable.

See the charts below for more details.

Reno Median Home Price in December 2024

The median home price in Reno rose to $644,500 in December 2024, representing a 2.3% increase from last month, as well as a 7.4% increase from December 2023.

Sparks Median Home Price in December 2024

In December, the median home price in Sparks was $549,000. This was a 3.6% increase from last month, as well as a 4.5% increase from December 2023.

Inventory

During December, 291 homes and condos were added to the market. By the end of the month, 428 homes sold, leaving 1,055 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 2.5 months.

Interest Rates

By the end of December 2024, interest rates were averaging around 6.85%. This is up 4 basis points from the end of November, and 24 basis points from the same period last year.*

Thoughts for the December 2024 Market

In December, inventory and volume of home sales dropped. This is to be expected and is a normal part of out market’s seasonality. Though the number of sales dropped, priced stayed stable. Both Reno and Sparks had increases in the median home price as opposed to November, as well as year over year increases from last December. So, what does this mean?

For Home Buyers Looking in the Reno/Sparks Market

Though inventory is low, as we move into the new year, it is typical for inventory to increase. This means if you’ve had a hard time finding an acceptable property through the last quarter, more options will be coming onto the market, making your home search a little bit easier.

For Sellers Looking to Sell Their Reno/Sparks Home

If you’re looking to sell, now can be a good time. In the same way that we begin to see more listings hit the market in January and through the late winter into spring, we also see buyer activity increase.

Joshua Skroch

The Reno/Sparks Real Estate Geek

I serve families in the Reno-Sparks area who are done with slick salesmen and just want a REALTOR® who’s on their side and will fight for them. I help get you exactly what you want, which is the best price for the home you’re selling or the best value for the home you want. Read more about me

Text MeCall MeI need to sell my homeSend Message

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