October 2025 Reno–Sparks Real Estate Market Update
Prices Shift, Inventory Builds, and Sellers Adjust to a Changing Market
The Reno–Sparks housing market is sending mixed signals this October. Prices are edging down, inventory is rising, and sellers are making more price cuts than at any point this year. Whether you’re buying or selling, the latest stats reveal key shifts that could influence your next move.
Let’s break down the numbers.
🎥 Watch the full update here → Oct. 2025 Update
What is your home worth? You may be surprised.
Mortgage Rates: Hovering in a Tight Range
Mortgage rates continue to play the starring role in shaping market conditions.
Current average: 6.4%
Up from: 6.2% a year ago
Rates have been bouncing between the low 6s and low 7s — a “channel” that’s likely to persist for the next 3–6 months. That stability is a double-edged sword: it offers predictability but keeps affordability tight.
Median Home Price: Slight Decline Year-over-Year
The median home price in the Reno–Sparks area now sits at $540,000, down 1.8% from $549,975 last year.
This includes single-family homes, townhomes, and condos.
Reno’s median would be slightly higher, while Sparks trends slightly lower.
Despite the dip in prices, the average monthly mortgage payment is still around $3,877 — essentially flat year-over-year but down from the summer’s $4,000+ levels.
Affordability Still a Challenge
The affordability index sits at 56%, meaning the median-income household can afford just over half the cost of a median-priced home.
While slightly better than earlier in the year, affordability remains one of the biggest headwinds in the market.
New Listings: Down Nearly 16%
In September, 525 new listings hit the market — down 15.9% from 624 a year ago.
Most of these new listings are concentrated between the $400,000 and $650,000 price range, which continues to be the most active segment for buyers and sellers alike.
Active Inventory: Slight Dip, but High in Upper Price Ranges
Total active listings in September reached 1,459, just a hair below last year’s 1,477.
However, the composition of that inventory tells the real story:
The $650,000–$1 million+ price brackets are stacked with listings.
The million-and-a-half-plus category has particularly high inventory levels, signaling mounting pressure on luxury sellers.
Closed Sales: Up Slightly, But Still Below Normal
The market saw 509 closed sales in September — a modest 3.5% increase from 492 last year.
Even so, historical trends suggest we should be closer to 650–800 sales this time of year, meaning buyer activity is still muted compared to typical autumn markets.
Supply vs. Demand: The Pressure Point
A widening gap between active listings and closed sales — especially at higher price points — suggests growing downward pressure on prices.
Example:
Nearly 200 active listings above $1.5M, but only 20 sales in that range.
Over 200 listings between $750K–$1M, but fewer than 60 sales.
The takeaway: the upper end of the market is oversupplied, while affordable homes remain competitive.
Months of Supply: Stabilizing Toward Normal
Currently at 2.9 months, inventory supply is down 4.5% from last year’s 3 months — a relatively balanced level compared to the frenzy of 2021–2022, when supply dipped below one month.
However, the luxury segment again stands out with extremely high months of supply, signaling slower absorption of high-end listings.
Days to Contract: Homes Taking Longer to Sell
Homes now take an average of 43 days to go under contract — up 53.6% from 28 days a year ago.
That means sellers must be more patient and strategic with pricing.
Unsold Listings: A Red Flag for Overpricing
September saw 170 unsold listings, up a sharp 68.3% from last year’s 101.
These are homes that expired, were withdrawn, or cancelled — a clear sign that overpricing and misaligned expectations are catching up with sellers.
What It Means for Sellers
If you’re selling a home in the Reno–Sparks area, pricing is everything right now.
Competition has increased, and prices haven’t moved much in two years. Don’t assume you’ll sell for more just because your neighbor did six months ago. Data-driven pricing — and proper marketing — is critical to getting results.
What is your home worth now?
What It Means for Buyers
For buyers, the tide is finally turning. More inventory and new construction incentives are giving shoppers more leverage than they’ve had in years.
Whether you’re eyeing a resale or a new build, there are more choices and more negotiating power on the table this fall.
The Assist2Sell Advantage
Assist2Sell has been serving Reno–Sparks homeowners since 1989, helping thousands of families sell their homes the smarter way.
We’ll sell your home for just $4,995, providing full service — professional marketing, showings, and expert negotiation — at a fraction of the traditional cost.
If you’re thinking about selling or buying this fall, now’s the time to talk strategy.
Assist2Sell – Way Smarter.