January 2023 Reno-Sparks Real Estate Market Update

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

Mortgage Interest Rates remain at some of the highest levels in over a decade.

Inventory has decreased by 2.7% from November to December, and are up 271.1% from the previous year.

Reno-Sparks median home price was $519,975 at the end of December.

Active Inventory is down 20.2% from November to December, and is up 120.9% from December 2021.

New real estate listings in Reno-Sparks for December were at 311 which is down 12.6% from November.

Sold homes reached 394 for the month of December, down 14% from November and down 40.5% from December 2021.