May 2023 Reno-Sparks Real Estate Market Update

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

Are you curious about the state of the real estate market in Reno, NV this month? Check out this update on the latest trends and statistics for May 2023. From housing inventory to median home prices, we cover everything you need to know about buying or selling a home in the Reno-Sparks area. Whether you're a first-time homebuyer or a seasoned investor, this video is a must-watch. Contact Assist2Sell today to learn more about how we can help you navigate the Reno real estate market with confidence.

Mortgage rates remain high.

The median sale price was $539,975 at the end of March 2023. This is up slightly from March, and is down 6.1% from this time last year.

New listings in the Reno-Sparks area have increased 9.1% from March to April, but remain 38.8% down from the previous year.

Sold homes reached 410 for the month of April, down 7.7% from March and down 26.4% from April 2022.

The active inventory of homes in April reached 642, down 3.3% from March. This is down 8.0% from April 2022.

The months supply is up 4.5% from March, and up 25.0% from the same period in 2022.