$140,000
0.36 Acres
Land
Laura Vinson, Listing Office: Dickson Realty - Caughlin
Is Reno Southwest, NV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Reno Southwest was a Seller's Market.
Key Takeaway
Reno Southwest is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Reno Southwest, NV
How much do homes in Reno Southwest, NV cost?
Median Sold Price
$818,817
$370/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$69,076(+9.2%)
Key Takeaway
Homes in Reno Southwest have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Reno Southwest was $818,817 in November 2024, up 9.2% from last year, and the median price per square foot was $370.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $222K | $270K | +21.6% |
| 2 Bedrooms | $475K | $527K | +10.9% |
| 3 Bedrooms | $676.6K | $725.7K | +7.3% |
| 4 Bedrooms | $996.6K | $1.0M | +1.5% |
| 5+ Bedrooms | $1.4M | $1.4M | +2.2% |
Summary: Reno Southwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.6%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 2.2%.
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% |
Housing Supply in Reno Southwest, NV
How many homes are available in Reno Southwest, NV?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 367 | 377 | +2.7% |
Summary: The Reno Southwest real estate market had 377 homes for sale in November 2024, a 2.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 14 | +16.7% |
| 2 Bedrooms | 57 | 57 | 0.0% |
| 3 Bedrooms | 118 | 120 | +1.7% |
| 4 Bedrooms | 123 | 126 | +2.4% |
| 5+ Bedrooms | 57 | 60 | +5.3% |
Summary: The Reno Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 72 | 59 | -18.1% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reno Southwest, you may be able to get a good deal. 61% of homes here sold below asking price last month.
Summary: A total of 59 homes were sold or pending in Reno Southwest in November 2024, down by 18.1% month-over-month. Of the 59 sold homes, 61% were sold under asking, 14% were sold at asking, and 25% were sold over asking.
Days on Market for Reno Southwest, NV
How long does it take to sell a home in Reno Southwest, NV?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 75 Days | 87 Days | +15.2% |
Summary: Homes in Reno Southwest had an average of 87 days on market in Nov 2024, up by 15.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Reno Southwest has remained consistent over time.
Summary: During November 2024, 59 homes were sold in Reno Southwest; 8% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.
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