Spring housing market accelerates! Sales are up; DOM is down; and inventory rises
The median SFR home price rose to $570,000 in March—a 0.4% increase over February’s median.
Year-over-year, March’s median sales price is down 0.9%.
The median sold price per square foot (PPSF) saw a slight decrease in March 2025—falling 0.3% from February’s number. Year-over-year, however, March’s median sold PPSF of $312.32/sq.ft. is up 4.8%.
Home sales saw big gains in March. 375 SFR units sold in March—a robust 17.9% increase over February’s 318 units sold. Year-over-year, March’s unit sales were up 15.0%.
Available inventory of homes listed and available for purchase currently sits at 809 units—up a healthy 19.0% over this time last month; and also up a staggering 61.5% over this time last year.
Pending sales are on the rise. There are currently 514 SFRs pending sale. This number is up 2.4% over this time last month, and up 1.0% year-over-year.
March’s months’ supply of inventory (MSI) came in at 2.2 months of supply—nearly unchanged from February’s 2.1 MSI. This figure, indicative of a seller’s market, is calculated by dividing the available inventory by the number of homes sold last month. A balanced market is generally considered to be between four and six months of supply.
March’s median days on market (DOM) clocked in at 53 days—19 fewer days than February’s median DOM of 72. Year-over-year, March’s DOM was four days fewer than March 2024’s DOM number.
The quartile chart below shows the trends within the 1st, 2nd, and 3rd quartiles of monthly sale prices spanning the most recent 13 months.
This interactive chart allows readers to compare sales price trends across quartiles. As can be seen in the chart above, though home prices rose across all quartiles, The first quartile (e.g. the lowest priced homes) saw the sharpest rise in prices.
The median sales price for condo/townhomes saw a notable decrease in March—coming in at $359,000. This number represents a 9.1% decrease from February’s median; however is up 5.6% year-over-year.
March’s condo/townhome unit sales were also up. 79 condo/townhomes sold in March—a 9.7% increase over February’s sales; and up 14.5% year-over-year.
13 Months of SFR Sales Data
The table below contains the past 13 months of data[1]…
| Month Year | # Sold | Median Sold Price | Sold Price per Sq Ft | Median DOM | # of Actives | # of Pendings |
| Mar 2025 | 375 | $570,000 | $312.32 | 53 | 809 | 514 |
| Feb 2025 | 318 | $567,750 | $313.13 | 72 | 680 | 502 |
| Jan 2025 | 294 | $573,500 | $311.77 | 86 | 655 | 458 |
| Dec 2024 | 349 | $604,500 | $322.90 | 70 | 735 | 346 |
| Nov 2024 | 332 | $581,765 | $325.47 | 63 | 867 | 423 |
| Oct 2024 | 422 | $583,750 | $314.29 | 66 | 924 | 462 |
| Sep 2024 | 406 | $588,250 | $328.37 | 62 | 967 | 487 |
| Aug 2024 | 388 | $609,975 | $321.53 | 53 | 951 | 502 |
| Jul 2024 | 420 | $610,000 | $315.75 | 52 | 917 | 478 |
| Jun 2024 | 401 | $600,000 | $318.13 | 50 | 787 | 524 |
| May 2024 | 426 | $592,500 | $322.00 | 48 | 711 | 580 |
| Apr 2024 | 372 | $565,000 | $306.18 | 46 | 614 | 531 |
| Mar 2024 | 326 | $575,000 | $297.98 | 57 | 501 | 509 |
In summary, the Reno/Sparks housing market in March 2025 demonstrated a clear shift into the spring selling season. Increased sales activity, a decline in days on market, and a significant rise in available inventory point to a market gaining momentum and offering more opportunities for buyers, despite a slight uptick in median prices. While the months’ supply of inventory remains in seller’s territory, the substantial year-over-year growth in listings suggests a potential easing of competition compared to last year. This dynamic market bears close monitoring in the coming months as the traditional peak buying season unfolds.
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For historical home sale data dating back to 1998 click here.
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1. The residential housing market data reported on above covers the Reno Metro Area, including the cities of Reno, Nevada and Sparks, Nevada. Market data includes SFR (Single Family Residence) properties only — except where noted differently. Data courtesy of the Northern Nevada Regional MLS – April 12, 2025. Note: This information is deemed reliable, but not guaranteed.
