First American Market Report

Reno, NV 89511

Single-Family Homes

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Reno, NV 89511

Sun Jul 14 2024
This week the median list price for Reno, NV 89511 is $1,889,000 with the market action index hovering around 35. This is less than last month's market action index of 36. Inventory has increased to 123. Click here to stay informed with the Reno market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Reno, NV 89511

Sun Jul 14 2024
This week the median list price for Reno, NV 89511 is $1,889,000 with the market action index hovering around 35. This is less than last month's market action index of 36. Inventory has increased to 123. Click here to stay informed with the Reno market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Reno market.
Median List Price $1,889,000
Median Price of New Listings $1,288,000
Per Square Foot $524
Average Days on Market 106
Median Days on Market 56
Price Decreased 43%
Price Increased 2%
Relisted 3%
Inventory 123
Median Rent
Market Action 35
Slight Seller's Advantage

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in 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
$4,431,944 5,959 1 - 2.5 acres 5 5.5 17 1 1 87
$2,495,000 4,444 1 - 2.5 acres 4 3.5 22 1 3 70
$1,549,000 3,284 0.5 - 1 acre 4 3.5 21 5 4 56
$950,000 2,401 0.25 - 0.5 acre 3 3 28 4 2 35