$10,000 Closing Credit*
$850,000
Mitch Argon, Listing Office: Cal Neva Realty
Is Reno, NV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Reno has remained a Seller's Market.
Key Takeaway
Reno is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Reno, NV
How much do homes in Reno, NV cost?
Median Sold Price
$573,827
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$44,271(+8.4%)
Key Takeaway
Homes in Reno have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Reno was $573,827 in November 2024, up 8.4% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $209.5K | $224K | +6.9% |
| 2 Bedrooms | $398.2K | $420K | +5.5% |
| 3 Bedrooms | $514.9K | $543.4K | +5.5% |
| 4 Bedrooms | $663.3K | $700K | +5.5% |
| 5+ Bedrooms | $977.5K | $1.0M | +11.5% |
Summary: Reno housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 11.5%.
Median Sold Price Compared To Nearby Cities
| Reno Southwest | $749.7K | $818.8K | +9.2% |
| Reno | $529.5K | $573.8K | +8.4% |
| Verdi | $734.5K | $780K | +6.2% |
| Reno North | $468.2K | $484.6K | +3.5% |
| Sun Valley | $404.9K | $414.6K | +2.4% |
Housing Supply in Reno, NV
How many homes are available in Reno, NV?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,475 | 1,422 | -3.6% |
Summary: The Reno real estate market had 1,422 homes for sale in November 2024, a 3.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 77 | 78 | +1.3% |
| 2 Bedrooms | 277 | 287 | +3.6% |
| 3 Bedrooms | 541 | 507 | -6.3% |
| 4 Bedrooms | 444 | 416 | -6.3% |
| 5+ Bedrooms | 136 | 134 | -1.5% |
Summary: The Reno housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 3.6%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 1.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 323 | 240 | -25.7% |
Asking Price vs. Sold Price
131 Homes Were Sold
Under Asking
66 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reno, you may be able to get a good deal. 54.6% of homes here sold below asking price last month.
Summary: A total of 240 homes were sold or pending in Reno in November 2024, down by 25.7% month-over-month. Of the 240 sold homes, 55% were sold under asking, 28% were sold at asking, and 18% were sold over asking.
Days on Market for Reno, NV
How long does it take to sell a home in Reno, NV?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 75 Days | 90 Days | +19.2% |
Summary: Homes in Reno had an average of 90 days on market in Nov 2024, up by 19.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
125 Homes Were Sold
In 30 - 90 Days
92 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Reno has remained consistent over time.
Summary: During November 2024, 240 homes were sold in Reno; 10% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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