Market Snapshot (SFRs and Condo/Townhomes)
The Reno/Sparks real estate market concluded 2025 with a significant surge in closed sales, up 22.2% month-over-month to 468 transactions, signaling robust buyer activity despite a slight dip in the median sale price to $540,000. This increased demand has further tightened inventory, pushing the overall months of supply down by 27.4% to a lean 2.1 months, firmly establishing the region as a seller’s market as the year closes.
🏠 Single Family Residences
The single-family residence (SFR) market in Reno/Sparks demonstrated a strong rebound in sales velocity for December, with closed sales soaring by an impressive 25.7% month-over-month to 386 transactions, contributing $279,415,049 to the total sales volume. Despite this surge in activity, the median sale price for SFRs experienced a modest decline, falling 1.5% from the previous month and 2.7% year-over-year to settle at $586,230, with a median price per square foot of $324.32. Properties are still selling below their original asking price, evidenced by a Sold/Original List Ratio of 97.0%, and buyers are taking slightly longer to commit, with the median days to contract at 31.0 and median days on market at 71, showing a slight 1.4% increase month-over-month.
Inventory levels for SFRs continue to favor sellers, with active listings at 725 and a tight 1.9 months of supply, which is a significant 30.9% reduction from the prior month and 11.3% lower year-over-year. This indicates a robust seller’s market where demand outstrips available homes. A substantial 48.7% of SFR sales involved a price reduction, with the median cut being $29,500 or 4.4% of the list price, suggesting that while the market is competitive, accurate pricing remains crucial for sellers to attract offers.
For SFR buyers, the current market presents a competitive landscape with fewer homes available, requiring swift decision-making, though the slight dip in median price and prevalence of price reductions offer some negotiation opportunities. Sellers, while benefiting from low inventory and increased sales velocity, must be strategic with their initial pricing to avoid the need for subsequent cuts and to capitalize on the strong demand.
SFR Sales by Price Range
| Price Range | Sales | % of Total |
|---|---|---|
| Over $1M | 55 | 14.9% |
| $750K-$1M | 55 | 14.9% |
| $600K-$750K | 66 | 17.8% |
| $500K-$600K | 81 | 21.9% |
| $400K-$500K | 91 | 24.6% |
| $300K-$400K | 21 | 5.7% |
| Under $300K | 1 | 0.3% |
🏢 Condos & Townhomes
The condo and townhome segment exhibited a more volatile pricing trend in December, with the median sale price experiencing a notable 14.7% month-over-month increase to $342,750, despite a significant 11.0% drop year-over-year. Closed sales saw a respectable 7.9% increase from November to 82 units, totaling $34,572,710 in volume, though year-over-year sales were down slightly by 1.2%. Properties in this category are taking longer to sell compared to SFRs, with a median 97 days on market and 53 days to contract, both up considerably (18.3% MoM, 19.8% YoY), indicating a slower pace of transactions. The Sold/Original List Ratio for condos/townhomes stands at 95.0%, lower than SFRs, suggesting greater negotiation room for buyers.
Inventory for condos and townhomes, at 3.0 months of supply, remains within the “balanced market” threshold but is tightening, down 10.2% month-over-month and 11.8% year-over-year, with 246 active listings. This category saw a higher percentage of sales with price cuts at 56.1%, and a larger median percentage reduction of 5.7%, or $20,000, compared to SFRs, highlighting that sellers in this segment are more frequently adjusting prices to meet buyer expectations.
The condo/townhome market presents a distinct dynamic from SFRs; while prices saw a significant monthly jump, the longer market times and higher propensity for price reductions suggest buyers have more leverage and time to consider options. Cash sales were also notably higher in this segment at 31.7% compared to 20.8% for SFRs, potentially influencing pricing and transaction speed. For sellers, competitive pricing and patience are key, while buyers may find more opportunities for negotiation and potentially less intense competition than in the SFR market, despite the tightening inventory.
Condo/Townhome Sales by Price Range
| Price Range | Sales | % of Total |
|---|---|---|
| Over $1M | 4 | 9.1% |
| $750K-$1M | 0 | 0.0% |
| $600K-$750K | 0 | 0.0% |
| $500K-$600K | 1 | 2.3% |
| $400K-$500K | 7 | 15.9% |
| $300K-$400K | 5 | 11.4% |
| Under $300K | 27 | 61.4% |
Financing Breakdown (All Properties)
| Loan Type | Sales | % of Total |
|---|---|---|
| Conventional | 248 | 55.0% |
| Cash | 101 | 22.4% |
| FHA | 63 | 14.0% |
| VA | 28 | 6.2% |
| Other | 4 | 0.9% |
| Seller Financed | 3 | 0.7% |
| Private | 3 | 0.7% |
| Unknown | 1 | 0.2% |
Sales by City
| City | Sales | Median Price |
|---|---|---|
| Sparks | 144 | $509,500 |
| Reno | 307 | $580,000 |
Market Outlook
The Reno/Sparks real estate market closed out 2025 on a high note for sales volume, demonstrating resilient buyer demand across both housing types. With an overall supply at a lean 2.1 months—significantly below the balanced threshold—the market remains firmly in seller-favored territory as we head into early 2026. While affordability remains a primary hurdle, the stabilization of mortgage rates near 6.3% and a 22.2% surge in monthly sales suggest that buyers are adapting to the “new normal.”
Looking ahead, we anticipate a “steady-not-explosive” growth phase. Sellers should capitalize on the current inventory shortage, while buyers should find more opportunities for negotiation as price reductions become a standard market tool. Success in 2026 will depend on timing and precision: well-priced homes are moving fast, but buyers now have the leverage to demand quality and transparency.
Still curious about how these trends affect your specific situation? See our most frequently asked questions below.
Frequently Asked Questions
Is the Reno/Sparks housing market currently a buyer’s or seller’s market?
As of late 2025, the Reno/Sparks region remains a strong seller’s market. With an overall inventory of just 2.1 months of supply—well below the 3-month threshold for a balanced market—demand continues to outpace available housing.
What was the median home price in Reno and Sparks in December 2025?
The combined median price for all properties was $540,000. When broken down by property type, Single-Family Residences (SFRs) had a median price of $586,230, while Condos and Townhomes saw a median price of $342,750.
Are home prices in Reno/Sparks rising or falling?
The market is currently seeing a modest correction. Median prices for Single-Family Residences dipped 1.5% month-over-month and 2.7% year-over-year. However, sales volume surged by 22.2%, indicating that buyers are re-entering the market as prices stabilize.
How long does it take to sell a home in Reno right now?
The median days on market (DOM) for all properties is 76 days. Single-family homes are moving faster, reaching contract in a median of 31 days, while condos and townhomes typically take longer, with a median of 53 days to reach contract.
Are sellers offering price reductions?
Yes. Approximately 50% of all listings saw a price cut in December. For single-family homes, the median reduction was roughly $29,500, suggesting that while it is a seller’s market, accurate initial pricing is critical to attract today’s buyers.