May 2022 Reno Sparks Real Estate Market Update

The video below outlines stats and trends for the Reno-Sparks real estate market for May 2022.

The number of houses on the market for sale (inventory) is historically low, interest rates are at a fresh 52-week high, and prices are up. Where do we stand now? Are we in a Seller’s market or a Buyer’s market?

Mortgage Interest Rates are at highest levels in over a decade.

Reno Sparks median home price was $595,000 at the end of April.

Inventory remains at low levels across Reno and Sparks. Inventory levels are up 43.6%% in April from March.

New real estate listings in Reno-Sparks for April were at 734 which is up 22.9% from March.

Sold homes were 485 for the month or April DOWN 3.2% from March and down 17.1% from March 2021.