REALTOR.COM® recently released its June 2025 Monthly Housing Market Trends Report, painting a picture of a rebalancing national housing market. As your local real estate expert, let’s dive into how the Reno, NV Metro area stacks up against these national trends.
National Snapshot (June 2025)1:
- Inventory: Increased by 28.9% year-over-year.
- Median List Price: $440,950, a modest 0.2% increase year-over-year.
- Price Cuts: 20.7% of listings, the highest share for any June since at least 2016.
- Days on Market: Median of 53 days, five days longer than last year.
- Pending Home Sales: Decreased by 1.6% year-over-year.
- Newly Listed Homes: Up 6.2% year-over-year, but declining for the second straight month.
Reno, NV Metro Snapshot (June 2025)2:
- Inventory: A significant 37.6% increase year-over-year.
- Median List Price: $538,184, representing a 0.67% decrease year-over-year.
- Share of Price Cuts: A substantial 49.15%.
- Median Days on Market: 51 days.
- Pending Home Sales: A 3.24% decrease year-over-year.
- Newly Listed Homes: Data currently unknown.
Comparing Reno to the National Trends:
While the national market shows a rebalancing with increased inventory and a slight rise in prices, Reno’s market tells a slightly different story, with some amplified trends and unique characteristics:
- Inventory Growth: Both national and local markets are seeing substantial increases in housing inventory, which is good news for buyers looking for more options. However, Reno’s 37.6% increase in active listings outpaces the national average of 28.9%, suggesting a more pronounced shift in supply locally.
- Median List Price: Nationally, we’re seeing a slight increase in median list prices. In contrast, Reno’s median list price of $538,184 has experienced a 0.67% decrease year-over-year. This could indicate a more significant cooling or correction in local prices compared to the broader U.S. market.
- Price Cuts: This is where Reno truly stands out. The national report noted a rise in price cuts to 20.7%, indicating sellers are adjusting expectations. In the Reno Metro area, a remarkable 49.15% of listings had price reductions. This figure is more than double the national average and suggests that sellers in our market are significantly more willing to negotiate and that buyers have more leverage.
- Days on Market: Both nationally and locally, homes are spending more time on the market. Nationally, the median was 53 days, and Reno is very close at 51 days. This aligns with the overall trend of a less frenzied market, where buyers have more time to make decisions.
- Pending Home Sales: Both the national market and the Reno Metro market experienced a decrease in pending home sales, indicating a slowdown in the pace of transactions. Reno’s decrease of 3.24% is somewhat higher than the national 1.6% decline.
What This Means for Reno Buyers and Sellers:
- For Buyers: The increased inventory and significantly higher percentage of price cuts in Reno mean more choices and potentially better opportunities to negotiate on price. The slightly longer time homes are spending on the market also gives buyers more breathing room.
- For Sellers: It’s a more competitive environment. With nearly half of listings seeing price reductions, it’s crucial to price your home competitively from the start and be prepared for potential negotiations. Understanding the current market dynamics is key to a successful sale.
While we don’t have the “newly listed homes” data for Reno for June, the existing data clearly shows a market that is rebalancing, and perhaps even more quickly than the national average in some aspects, particularly when it comes to price adjustments.
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For historical home sale data dating back to 1998 click here.
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1. Realtor.com housing data as of June 2025. Listings include the active inventory of existing single-family homes and condos/townhomes/row homes/co-ops for the given level of geography on Realtor.com; new construction is excluded unless listed via an MLS that provides listing data to Realtor.com.
2. 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), condo, and townhome properties; new construction is excluded unless listed via the MLS. Data courtesy of the Northern Nevada Regional MLS – July 25, 2025. Note: This information is deemed reliable, but not guaranteed.
