September 2022 Reno Sparks Real Estate Market Update

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

The number of houses on the market for sale (inventory) is decreasing, and interest rates are at a high. 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.

Inventory is decreasing across Reno and Sparks. Inventory levels are down 9.8% in August from July.

Reno Sparks median home price was $565,686 at the end of August.

Inventory is rising across Reno and Sparks. Inventory levels are down 8.1% in August from July.

New real estate listings in Reno-Sparks for August were at 596 which is down 15.8% from July.

Sold homes were 437 for the month of August up 1.9% from July and down 22.3% from August 2021.

Unsold homes were 176 for the month of August, up 32.3% from July and up 203.4% from August 2021.