February 2023 Reno-Sparks Real Estate Market Update

The video below outlines stats and trends for the Reno-Sparks real estate market for February 2023

The Reno real estate market has been through a lot lately. Mortgage interest rates are higher, but how will that change prices? Where do we stand now? Are we in a Seller’s market or a Buyer’s market? Learn all about the latest stats and trends for the Reno-Sparks area.

Pending home sales are at a historic low.

Inventory has increased by 9% from December to January, and are up 288.4% from the previous year.

Reno-Sparks median home price was $525,000 at the end of December.

Active Inventory is down 22.3% from December to January, and is up 115.5% from January 2022.

New real estate listings in Reno-Sparks for January was at 312 which is down .6% from December.

Sold homes reached 283 for the month of January, down 28.7% from December and down 44.5% from January 2022.