August 2022 Reno Sparks Real Estate Market Update

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

The number of houses on the market for sale (inventory) is increasing, and interest rates are starting to soften. 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 $574,510 at the end of July.

Inventory is rising across Reno and Sparks. Inventory levels are up 9.1% in July from June.

New real estate listings in Reno-Sparks for July were at 687 which is down 20.7% from June.

Sold homes were 425 for the month of July down 7.2% from June and down 34.0% from July 2021.