Is Reno Southeast, NV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Reno Southeast has remained a Seller's Market.
Key Takeaway
Reno Southeast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Reno Southeast, NV
How much do homes in Reno Southeast, NV cost?
Median Sold Price
$564,850
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Reno Southeast have sold for 1% more than they did a year ago.
Summary: The median home sold price in Reno Southeast was $564,850 in April 2024, up 1% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $209.7K | $205K | -2.3% |
| 2 Bedrooms | $369K | $410K | +11.1% |
| 3 Bedrooms | $563K | $589K | +4.6% |
| 4 Bedrooms | $681.5K | $710K | +4.2% |
| 5+ Bedrooms | $809K | $860K | +6.3% |
Summary: Reno Southeast housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.3%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Washoe Valley | $892.5K | $1.0M | +14.3% |
| Reno | $536.8K | $547.9K | +2.1% |
| Sparks | $499.9K | $508.8K | +1.8% |
| Reno Southeast | $559K | $564.8K | +1.0% |
| Reno North | $485K | $480K | -1.0% |
Housing Supply in Reno Southeast, NV
How many homes are available in Reno Southeast, NV?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 200 | 245 | +22.5% |
Summary: The Reno Southeast real estate market had 245 homes for sale in April 2024, a 22.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 16 | +23.1% |
| 2 Bedrooms | 57 | 62 | +8.8% |
| 3 Bedrooms | 78 | 92 | +17.9% |
| 4 Bedrooms | 40 | 57 | +42.5% |
| 5+ Bedrooms | 12 | 18 | +50.0% |
Summary: The Reno Southeast housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.1%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 42.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 55 | 56 | +1.8% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reno Southeast, expect to pay close to the asking price. 39.3% of homes here sold near the asking price last month.
Summary: A total of 56 homes were sold or pending in Reno Southeast in April 2024, up by 1.8% month-over-month. Of the 56 sold homes, 34% were sold under asking, 39% were sold at asking, and 27% were sold over asking.
Days on Market for Reno Southeast, NV
How long does it take to sell a home in Reno Southeast, NV?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 81 Days | 54 Days | -33.4% |
Summary: Homes in Reno Southeast had an average of 54 days on market in Apr 2024, down by 33.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
37 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Reno Southeast has remained consistent over time.
Summary: During April 2024, 56 homes were sold in Reno Southeast; 18% of homes were sold within 30 days, 66% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
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