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Tahoe Mountain Report

In-Depth Market Reports for the Reno Region

Reno Tahoe real estate ended 2023 in much the same position as the year began. Despite over 3,600 residential transactions, median and average price are within 2% of 2022 totals, albeit on opposing sides while the standing inventory of available homes is identical to the number on January 1, 2023.

Nevertheless, numerous thresholds were achieved in 2023 generally attributable to a rising luxury class. Year over year, average price increased by 2% to $675,000 while median price dropped by the same 2% to $525,000.  The delta between the two metrics indicates that a greater number of luxury homes sold for exceptional prices while more typical homes languished. This logic stands to reason amid rapidly rising interest rates that disproportionately impact entry-level buyers for whom leveraging into a purchase is most essential and affordability most compromised.

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2023 ANNUAL RENO REPORT