Is Reno, NV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Reno has remained a Seller's Market.
Key Takeaway
Reno is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Reno, NV
How much do homes in Reno, NV cost?
Median Sold Price
$547,923
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Reno have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Reno was $547,923 in April 2024, up 2.1% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $215K | -4.4% |
| 2 Bedrooms | $400K | $418.7K | +4.7% |
| 3 Bedrooms | $520.3K | $527K | +1.3% |
| 4 Bedrooms | $666.9K | $691.8K | +3.7% |
| 5+ Bedrooms | $928.9K | $1.0M | +13.0% |
Summary: Reno housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
| Reno Southwest | $749.8K | $772.8K | +3.1% |
| Reno | $536.8K | $547.9K | +2.1% |
| Sun Valley | $405K | $410K | +1.2% |
| Verdi | $740K | $737.5K | -0.3% |
| Reno North | $485K | $480K | -1.0% |
Housing Supply in Reno, NV
How many homes are available in Reno, NV?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,047 | 1,228 | +17.3% |
Summary: The Reno real estate market had 1,228 homes for sale in April 2024, a 17.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 53 | 67 | +26.4% |
| 2 Bedrooms | 184 | 205 | +11.4% |
| 3 Bedrooms | 421 | 490 | +16.4% |
| 4 Bedrooms | 291 | 350 | +20.3% |
| 5+ Bedrooms | 98 | 116 | +18.4% |
Summary: The Reno housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.4%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 18.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 231 | 279 | +20.8% |
Asking Price vs. Sold Price
115 Homes Were Sold
Under Asking
87 Homes Were Sold
At Asking
77 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reno, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.
Summary: A total of 279 homes were sold or pending in Reno in April 2024, up by 20.8% month-over-month. Of the 279 sold homes, 41% were sold under asking, 31% were sold at asking, and 28% were sold over asking.
Days on Market for Reno, NV
How long does it take to sell a home in Reno, NV?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 95 Days | 76 Days | -19.7% |
Summary: Homes in Reno had an average of 76 days on market in Apr 2024, down by 19.7% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
177 Homes Were Sold
In 30 - 90 Days
64 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Reno has remained consistent over time.
Summary: During April 2024, 279 homes were sold in Reno; 14% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
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Disclaimer: The data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX logo. GLVAR MLS deems information reliable but not guaranteed.