November 2022 Reno-Sparks Real Estate Market Update

The video below outlines stats and trends for the Reno-Sparks real estate market for November 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 the highest levels in over a decade.

Inventory has increased by 15.5% from September to October, and are up 212.6% from the previous year.

Reno-Sparks median home price was $540,000 at the end of October.

Reno-Sparks unsold homes were at 194, a 17.5% increase from September and a 185.3% increase from September 2021

Active Inventory is down 9.5% from September to October.

New real estate listings in Reno-Sparks for October were at 420 which is down 22.9% from September.

Sold homes reached 372 for the month of October, down 21.7% from September and down 34.7% from September 2021.