Prices Steady, Inventory Stable
The Reno/Sparks housing market continued to show stability in September 2025, with single-family home sales holding steady and price trends remaining relatively flat year over year. While overall demand persists, both buyers and sellers appear to be adjusting to a more balanced environment compared to the frenzied conditions of prior years.
Single-Family Homes (SFR)
In September, 407 single-family homes sold across the Reno/Sparks market—essentially unchanged from September 2024, a +0.2% year-over-year increase.
Chart: SFR units sold
The median sales price was $578,000 (-1.7% YoY). The median sold price per square foot (PPSF) was $319/sq.ft. (-2.9% YoY). While these shifts are minimal, they reflect a market that has largely normalized following several years of rapid appreciation.
Chart: SFR median price
Chart: SFR median sold price per square foot (PPFS)
Key SFR Metrics
- Homes sold: 407 (+0.2% YoY)
- Median price: $578,000 (-1.7% YoY)
- Median PPSF: $319/sq.ft. (-2.9% YoY)
- Active inventory: 974 homes (+0.7% YoY)
- Pending sales: 485 (-0.4% YoY)
- Months of supply (MSI): 2.4
- Median days on market (DOM): 66 days
At 2.4 months of supply, the market remains in seller’s territory, though the modest rise in inventory and steady sales pace provide buyers with more breathing room than earlier this year.
Price Quartiles
- 1st quartile: $485,000
- 2nd quartile (median range): $578,000
- 3rd quartile: $772,500
The spread between lower and upper quartiles illustrates the market’s diversity, with demand remaining strongest in the mid-tier price points.
Chart: Quartile price trend comparison.
Condos & Townhomes
The condo/townhome segment recorded 87 sales in September (+1.2% YoY). The median price was $305,000 (-23.8% YoY), and PPSF was $289/sq.ft. (-5.6% YoY).
- Active inventory: 312 units (+2.0% YoY)
- Pending sales: 96 units (+17.1% YoY)
- Months of supply (MSI): 3.6
- Median DOM: 87 days
Rising inventory and longer market times point to a balanced-to-buyer-leaning environment for attached homes. Sellers in this segment may need to be more strategic on pricing and presentation.
Market Commentary
Overall, the Reno/Sparks market is stable and balanced—neither accelerating like 2021–2022 nor contracting as some feared in 2023–2024. Steady demand, relatively low supply, and moderate time on market continue to support fundamentals. The small year-over-year softening in median prices suggests normalization rather than decline, especially given continued in-migration, a resilient employment base, and limited new-home supply.
Looking Ahead
As we enter Q4, seasonal slowing is expected. With Northern Nevada’s ongoing economic expansion and steady inbound migration, conditions should maintain a healthy equilibrium into early 2026. For sellers, pricing to the market and optimizing presentation remain critical. For buyers, slightly more inventory and longer DOM create opportunities—especially for well-prepared, pre-approved buyers.
Thinking of selling your home and looking for guidance in the current market? Schedule a consultation with us to get personalized advice on your real estate goals.
For historical home sale data dating back to 1998 click here.
Click here to see Reno Homes for Sale.
The residential housing market data reported above covers the Reno Metro Area, including the cities of Reno and Sparks, Nevada. Market data includes Single-Family Residence (SFR) and Condominium/Townhome properties. Data courtesy of the Northern Nevada Regional MLS – October 7, 2025. This information is deemed reliable, but not guaranteed.