$10,000 Closing Credit*
$1,295,000
2,602 SqFt
4 Beds
•2 Full Baths, 1 Partial
Nicholas Heathman, Listing Office: Keller Williams Group One Inc.
Is Reno Southwest, NV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Reno Southwest has remained a Seller's Market.
Key Takeaway
Reno Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Reno Southwest, NV
How much do homes in Reno Southwest, NV cost?
Median Sold Price
$820,046
$366/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$71,917(+9.6%)
Key Takeaway
Homes in Reno Southwest have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Reno Southwest was $820,046 in October 2024, up 9.6% from last year, and the median price per square foot was $366.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $222K | $277.5K | +25.0% |
| 2 Bedrooms | $469K | $527K | +12.4% |
| 3 Bedrooms | $675K | $725K | +7.4% |
| 4 Bedrooms | $1.0M | $1.0M | -0.6% |
| 5+ Bedrooms | $1.4M | $1.4M | -0.2% |
Summary: Reno Southwest housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 0.2%.
Median Sold Price Compared To Nearby Cities
| Reno Southwest | $748.1K | $820K | +9.6% |
| Reno | $529.2K | $570.6K | +7.8% |
| Verdi | $731.9K | $780K | +6.6% |
| Reno North | $475K | $482.8K | +1.7% |
Housing Supply in Reno Southwest, NV
How many homes are available in Reno Southwest, NV?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 390 | 389 | -0.3% |
Summary: The Reno Southwest real estate market had 389 homes for sale in October 2024, a 0.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 12 | +9.1% |
| 2 Bedrooms | 57 | 61 | +7.0% |
| 3 Bedrooms | 126 | 120 | -4.8% |
| 4 Bedrooms | 140 | 137 | -2.1% |
| 5+ Bedrooms | 56 | 59 | +5.4% |
Summary: The Reno Southwest housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 7%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 5.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 88 | 68 | -22.7% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
10 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. 58.8% of homes here sold below asking price last month.
Summary: A total of 68 homes were sold or pending in Reno Southwest in October 2024, down by 22.7% month-over-month. Of the 68 sold homes, 59% were sold under asking, 26% were sold at asking, and 15% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 70 Days | 77 Days | +10.1% |
Summary: Homes in Reno Southwest had an average of 77 days on market in Oct 2024, up by 10.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
37 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Reno Southwest has remained consistent over time.
Summary: During October 2024, 68 homes were sold in Reno Southwest; 15% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
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