As 2025 winds to a close, the Reno/Sparks housing market continues to show signs of cooling from the high-speed frenzy of the last several years. November’s numbers reveal a market that is still competitive, but shifting in ways that create opportunities for both buyers and sellers. Here’s a look at how the market performed and what it means for you.
November 2025 at a Glance
| Key Metric |
Result |
| Median Sales Price |
$590,000 |
| Closed Sales |
297 homes sold |
| Median Days to Contract |
35 days |
| List-to-Sales Price Ratio |
98.6% |
| Median Sold Price per Sq. Ft. |
$320 |
| New Listings |
297 |
| Active Inventory |
826 homes |
| Months of Inventory |
2.8 months |
Year-Over-Year Highlights (Compared to November 2024)
-
Median price increased 1.6%
-
Time to contract improved by 20.7% (homes still selling relatively quickly)
-
Active inventory down 13%
-
Months supply of inventory decreased 3.9%
Month-Over-Month Highlights (Compared to October 2025)
-
Closed sales dipped 26.5%
-
New listings dropped 30.8%
-
Active inventory declined 18%
-
Median sales price slid 1.2%
The seasonal slowdown is clearly underway, but with fewer new listings and shrinking inventory, the market remains far from balanced.
What This Means for Buyers
Even though prices have cooled slightly from October, competition is still present due to limited inventory. With less than three months of supply on the market, buyers must remain prepared and decisive — but the conditions are more favorable than they’ve been in recent years.
Advantages for Buyers Right Now
-
More negotiating room. With the list-to-sales ratio below 100%, homes are selling for slightly under asking price.
-
More days on market = more time to shop. At 35 days to contract, buyers aren’t having to rush offers instantly.
-
Sellers may be more motivated. End-of-year transactions are often driven by relocation deadlines, tax planning, or job changes.
Buyer Tip
Lock in rates when you find a home you love — and ask about seller concessions, repairs, and rate buydown credits. These incentives are becoming more common.
What This Means for Sellers
While fewer homes are hitting the market, buyer demand remains steady enough to maintain strong pricing. A median price of $590,000 and 98.6% of list received shows buyers are still willing to pay premium value for well-priced, well-presented homes.
Advantages for Sellers Right Now
-
Low competition. New listings dropped nearly 31% month-over-month — fewer homes on the market means more focus on yours.
-
Serious buyers remain active. End-of-year buyers are typically motivated and prepared.
-
Favorable pricing. The median price is still higher than last year, signaling that the market has not turned against sellers.
Seller Tip
Homes that are priced correctly, marketed professionally, and staged thoughtfully are still selling quickly and close to list price. STRATEGY matters more than ever.
Final Takeaway
The Reno/Sparks market is experiencing a seasonal slowdown, not a downturn. Inventory remains tight, keeping values healthy while creating pockets of opportunity for both buyers and sellers.
Navigation is key — and that’s where the right real estate team makes all the difference. Have questions? Let’s sit down and talk about what you’d like to accomplish in 2026.
