Stewart Title's Market Report
Reno, NV
Single-Family Homes
Our Strength is Our People
Reno, NV
Sat Apr 20 2024
This week the median list price for Reno, NV is $819,500 with the market action index hovering around 47. This is an increase over last month's market action index of 45. Inventory has increased to 358.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $819,500 | |
| Median Price of New Listings | $665,000 | |
| Per Square Foot | $365 | |
| Average Days on Market | 104 | |
| Median Days on Market | 39 | |
| Price Decreased | 24% | |
| Price Increased | 6% | |
| Relisted | 3% | |
| Inventory | 358 | |
| Median Rent | ||
| Market Action | 47 | |
| Strong Seller's Market | ||
The value placed on homes continues to increase, despite the fact that prices in general have remained basically flat. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,650,000 | 4,500 | 0.5 - 1 acre | 4 | 4.5 | 18 | 6 | 1 | 161 |
| $1,059,000 | 2,859 | 0.25 - 0.5 acre | 4 | 3 | 21 | 14 | 14 | 35 |
| $695,995 | 2,066 | 8,000 - 10,000 sqft | 3 | 2 | 23 | 23 | 13 | 35 |
| $489,900 | 1,762 | 6,500 - 8,000 sqft | 3 | 2 | 19 | 20 | 17 | 14 |