Let’s examine the most recent housing data from Sierra Nevada REALTORS® from two perspectives that provides insight into both long-term and short-term trends:
Market Highlights:
The Reno/Sparks real estate market experienced some notable shifts in February 2025. The median sales price for single-family homes was $569,500, reflecting a 4.0% increase compared to February 2024 but a slight 0.1% decrease from January 2025. The number of closed sales (329) saw a 7.5% year-over-year increase, showing solid buyer activity. Homes are selling faster, with the median days to contract dropping to 24 days, a 33.3% improvement from last year but a significant 29.4% decrease from January 2025.
The list price received remained high at 98.6%, meaning sellers are getting close to their asking prices. The median price per square foot was $315, almost unchanged from last year. New listings (409) increased by 13.3% year-over-year, indicating a more active market, while active inventory (718 homes) grew by 25.5%. However, the months’ supply of inventory was at 2.2 months, still reflecting a seller-favored market but showing signs of more balance.
What This Means for Buyers
Buyers in the Reno/Sparks market are seeing more inventory available, which means slightly more options to choose from compared to last year. However, prices are still rising year-over-year, indicating strong demand. The increase in new listings could provide more opportunities, but with homes selling faster (median of 24 days to contract), competition remains strong. Since the list price received is nearly 99%, buyers should be prepared to make competitive offers. While inventory is increasing, the market still leans toward sellers, so buyers should be decisive and financially prepared when making offers.
What This Means for Sellers
Sellers remain in a strong position, as home prices continue to hold steady, and most sellers are receiving close to their asking prices. Faster sales (33.3% improvement in median days to contract) indicate that well-priced homes are moving quickly. However, with a growing inventory (up 25.5%), sellers may face slightly more competition than in previous months. Pricing competitively and ensuring homes are well-presented will be key to attracting buyers. Although the months’ supply of inventory is still low (2.2 months), it’s increasing, which could lead to a more balanced market in the coming months.
Key Takeaways
Overall, the Reno/Sparks market remains seller-friendly but is showing early signs of moving toward a more balanced dynamic as inventory grows. Buyers should act quickly, and sellers should take advantage of strong demand while watching for potential shifts in market conditions.
As always, whether you’re buying or selling, having an expert with experience in every type of real estate market by your side is crucial. At HomeGate Realty, we specialize in helping clients navigate the Reno/Sparks real estate market with confidence. If you’re thinking about selling or buying in 2025, let’s get together soon to craft a plan to meet your goals and needs.
