Stewart Title's Market Report
Reno, NV
Single-Family Homes
Our Strength is Our People
Reno, NV
Tue Mar 28 2023
This week the median list price for Reno, NV is $764,500 with the market action index hovering around 43. This is an increase over last month's market action index of 42. Inventory has held steady at or around 366.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $764,500 | |
| Median Price of New Listings | $585,000 | |
| Per Square Foot | $331 | |
| Average Days on Market | 107 | |
| Median Days on Market | 70 | |
| Price Decreased | 35% | |
| Price Increased | 5% | |
| Relisted | 7% | |
| Inventory | 366 | |
| Median Rent | ||
| Market Action | 43 | |
| Slight Seller's Advantage | ||
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,650,000 | 3,973 | 0.5 - 1 acre | 4 | 4 | 18 | 8 | 2 | 126 |
| $925,000 | 2,767 | 8,000 - 10,000 sqft | 4 | 3 | 17 | 11 | 12 | 84 |
| $657,499 | 2,056 | 6,500 - 8,000 sqft | 3 | 2.5 | 24 | 17 | 17 | 42 |
| $465,287 | 1,608 | 6,500 - 8,000 sqft | 3 | 2 | 24 | 21 | 23 | 28 |