The Reno–Tahoe region had a strong start to 2025, with transaction volume increasing by 15% compared to January in each of the past two years. While this period is typically one of the slowest for real estate activity, this growth signals a promising outlook for the year ahead.
Nearly 250 residential sales closed in January, with a notable concentration in the lower price ranges. Both the average and median sale prices declined by 5% compared to 2024—a seasonal trend, as Reno’s high-end properties, often set on expansive land, are more challenging to showcase in winter. Sales above $1 million accounted for just 10% of all transactions, down from 14% in 2024.
While interest rates remain stubborn in the high-6% range, the anticipation of improved conditions around the corner that defined, and stymied, much of 2024 have been replaced with reluctant acceptance. This recalibration of carry costs may be reflected in the slight dip in price shown in January.
Despite these dynamics, inventory remains balanced at approximately 1,000 residential listings, with four months of supply—consistent with absorption rates over the past several years. As inventory rises in spring, demand is expected to follow, likely maintaining market stability through the first half of 2025.
Stay tuned as we track the momentum in Reno – Tahoe’s real estate market this year.
