The real estate market in the Reno/Sparks area showed notable activity in May 2025, with slight price growth, faster sales, and a boost in new listings and inventory. Whether you’re looking to buy or sell, understanding these shifts can help you make confident, strategic decisions in today’s dynamic housing landscape.
📊 Market Highlights for May 2025:
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Median Sales Price: $595,475
▸ Up 0.1% year-over-year, up 1.8% from April
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Closed Sales: 422
▸ Up 0.7% YoY and 11.9% MoM
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Median Days to Contract: 14
▸ Down 20.6% from April, but up 50% from May 2024
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List Price Received: 98.7%
▸ Nearly unchanged, showing stable pricing expectations
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Median Sold Price per Sq Ft: $328
▸ Up 2.2% from April, 1.9% YoY
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New Listings: 607
▸ Up 8.8% from April
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Active Inventory: 985
▸ Up 29.4% MoM, 49.9% YoY
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Months Supply of Inventory: 2.3
▸ Up 15.6% MoM, 48.9% YoY
🔍 What This Means for Buyers:
Buyers are beginning to see more options on the market. With nearly 50% more active inventory than a year ago and a growing supply, there’s less pressure to compete aggressively on pricing. While the median price has edged up slightly, the increased listings and rising inventory may balance competition in the coming months.
Even though homes are selling relatively quickly (14 days on average), the increase in inventory suggests buyers may have more room to negotiate than earlier this year. If you’re a buyer, this could be the ideal time to re-engage in your search before summer demand heats up further.
Buyer Tip: Lock in your financing now while exploring the growing number of listings. More inventory gives you leverage—use it wisely!
🔍 What This Means for Sellers:
Sellers are still in a strong position—but with a few caveats. Homes are moving quickly (20.6% faster than April), and sellers are receiving nearly 99% of their asking price, which indicates buyers are still motivated and competitive.
However, rising inventory levels mean more competition on the market. To stand out, pricing strategically and staging your home effectively will be key. With 607 new listings this month alone, buyers have options—make sure your home is the one that checks their boxes.
Seller Tip: Highlight what makes your home special and work with an experienced agent to price it right. Speed and strategy go hand in hand in a shifting market.
Final Thoughts:
The Reno/Sparks housing market is balancing out. While we’re still seeing strong buyer activity, the increase in inventory signals a move toward a more neutral market. Both buyers and sellers have opportunities right now—success just depends on having the right guidance and strategy.
📩 Have questions about buying or selling in the Reno/Sparks area? Reach out to the local experts at HomeGate Realty for personalized insights and support tailored to your goals.
