October 2022 Reno-Sparks Real Estate Market Update

The video below outlines stats and trends for the Reno-Sparks real estate market for October 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 decreased by 4.6% from August to September, but are up 160.1% from the previous year.

Reno-Sparks median home price was $535,000 at the end of September.

Active Inventory is down 2.9% from August to September.

New real estate listings in Reno-Sparks for September were at 537 which is down 11.5% from August.

Sold homes reached 461 for the month of September, up 1.8% from July and down 22.7% from September 2021.