Reno, NV Metro Area median home price pulls back substantially.
The median SFR home price fell sharply to $573,500 in January—declining 5.1% from December’s median.
The median sales price is now back to March 2024 levels. Year-over-year, January’s median is up 7.5%.
The median sold price per square foot (PPSF) also pulled back in January 2025—falling 3.4% from December’s number. Year-over-year, however, January’s median sold PPSF of $311.77/sq.ft. is up 6.6%.
Home sales also fell. January saw 294 SFR units sold—a signifcant 15.8% decline from December’s 349 units sold. That being said, year-over-year, January’s units sales were up 17.1%.
Available inventory of homes listed and available for purchase currently sits at 655 units—down 10.9% from this time last month; however, is up 26.9% over this time last year. Available inventory has been steadily increasing since April of this year.
Pending sales are on the rise. There are currently 458 SFRs pending sales. This number is up 32.4% over this time last month. And is also up 2.9% year-over-year.
January’s months’ supply of inventory (MSI) came in at 2.2 months of supply—nearly unchanged from December’s 2.1 MSI. Indicative of a seller’s market, this figure 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.
January’s median days on market (DOM) clocked in at 86 days—16 more days than December’s median DOM. Year-over-year, January’s DOM was one day fewer than January 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.
The above interactive chart allows readers to compare sales price trends within each quartile relative to the trends observed in the other quartiles. For example, as can be seen in the chart above, while home sale prices fell in the median-priced houses (quartile 2) and highest-priced houses (quartile 3), home prices increased for homes in quartile 1, the lowest-priced homes.
The median sales price for condo/townhomes also saw a notable decrease in January—coming in at $339,000. This number represents an 11.4% decrease from December’s median; and is also down 1.7% year-over-year.
January’s condo/townhome sales were down noteworthy 17.5% from December’s sales; however up 3.1% 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 |
| 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 |
| Feb 2024 | 299 | $549,950 | $317.12 | 73 | 488 | 458 |
| Jan 2024 | 251 | $534,000 | $292.49 | 87 | 516 | 445 |
While January’s data reveals some notable shifts, including a pullback in median prices and sales volume, these trends are largely expected due to typical historical seasonality observed between December and January. The Reno/Sparks housing market continues to demonstrate its dynamic nature. The slight pullback, coupled with the increase in pending sales, suggests a market in transition. As we move further into 2025, it will be crucial to monitor inventory levels and buyer activity to see if these trends solidify or if we see a resurgence in the spring market. Stay tuned for our next update as we continue to track the evolving landscape of Reno’s real estate.
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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 – February 23, 2025. Note: This information is deemed reliable, but not guaranteed.
