First American Market Report
Reno, NV 89511
Single-Family Homes
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Reno, NV 89511
Sat Jul 27 2024
This week the median list price for Reno, NV 89511 is $1,839,000 with the market action index hovering around 35. This is less than last month's market action index of 36. Inventory has held steady at or around 129.
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
| Median List Price | $1,839,000 | |
| Median Price of New Listings | $1,325,000 | |
| Per Square Foot | $529 | |
| Average Days on Market | 107 | |
| Median Days on Market | 56 | |
| Price Decreased | 43% | |
| Price Increased | 2% | |
| Relisted | 3% | |
| Inventory | 129 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $4,200,000 | 5,577 | 1 - 2.5 acres | 4 | 5.3 | 18 | 0 | 1 | 80 |
| $2,472,500 | 4,415 | 1 - 2.5 acres | 4 | 4 | 22 | 1 | 1 | 84 |
| $1,503,000 | 3,107 | 0.5 - 1 acre | 4 | 3 | 23 | 6 | 5 | 38 |
| $966,995 | 2,555 | 0.25 - 0.5 acre | 3 | 2.5 | 27 | 2 | 4 | 42 |