July 2022 Reno Sparks Real Estate Market Update

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

The number of houses on the market for sale (inventory) is increasing significantly, and interest rates look like they might start to stabilize. 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 $600,000 at the end of June.

Inventory is rising across Reno and Sparks. Inventory levels are up 38.3% in June from May.

New real estate listings in Reno-Sparks for June were at 854 which is up 13.6% from May.

Sold homes were 447 for the month of June down 14.2% from May and down 30.3% from June 2021.