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The Crest & Horizon Statistics for Jan 1, 2025 to May 4, 2025
- Average Days on Market: 56
- Median Sold Price: $489,000
- Active Listings as of 5/4/2025: 6
Click Here to view detailed info & photos on Active Listings - Under-Contract Listings as of 5/4/2025: 3
Click Here to view detailed info & photos on Under-Contract Listings - Sold Listings from 1/1/2025 to 5/4/2025: 13
Click Here to view detailed info & photos on Sold Listings
All Reno/Sparks Market Update – 5/4/2025
30-Year Mortgage Interest Rates: 6.76%
What does this all mean?
The short answer is:
We’re seeing some interesting trends in the Reno/Sparks Real Estate Market. To start with, April 2025 Inventory (Supply) is up 41.4% over April 2024. Transactions (Demand) is just a tad higher at 0.3% increase. Usually, when Supply is up and Demand is flat, we see a decrease in prices. However, April 2025 still saw a 3.1% increase which is right in line with the Year to Date price increase of 3.5%.
Conclusions:
Home Prices – Reno/Sparks economy continues to be strong, supporting an increase in home prices. Home prices could increase in the 5-7% range as we start our 2025 Real Estate Season.
Interest Rates – This is a real tough subject because of all the volatility in our economy. The outlook changes from day to day. As of 5/4/2025, 30-year conventional mortgage rates are at 6.76%. Get ready, if the Feds reduce the Fed Funds Rate (4.33) we should see reductions in mortgage interest rates. When interest rates go to the 5’s, we’ll see a large number of buyers enter the market which will press home prices to increase. Likewise, if interest rates go up, we could see home prices go flat or even down a bit for Reno/Sparks.
Disclaimer: This article/website contains forward-looking statements which are predictions and opinion based on data and information at a particular point of time. As data and information is updated and changes, the predictions and opinions can and will change. It is recommended that you always conduct your own research and base any of your investments and decisions on your finances on your own conclusions.