June 2022 Reno Sparks Real Estate Market Update

The video below outlines stats and trends for the Reno-Sparks real estate market for June 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 $615,000 at the end of May.

Inventory remains at low levels across Reno and Sparks. Inventory levels are up 28.5% in May from April.

New real estate listings in Reno-Sparks for May were at 735 which is down -1.7% from April.

Sold homes were 517 for the month of May UP 4.4% from April and down 5.0% from March 2021.