Is Reno, NV 89501 a buyer’s or seller’s market?

The Reno housing market right now

In the three months ending August 31, 2026, 4% of homes in Reno, NV 89501 sold above their list price, the typical home went under contract in 112 days and there were 4.3 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 24 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (6% then), homes sold more slowly (79 days then) and the median sale price rose 12% to $351,848. Overall, Reno is less competitive than a year ago, which gives buyers more room.

Within Washoe County, homes here sell more slowly than in 95% of the county’s ZIP codes, and sell less often over asking than in 81%. On our competition score, Reno ranks #96 of 100 NV ZIP codes with enough sales (score 12 out of 100).

Nearby, buyers who want less competition could look at Reno 89510 (0% sold over asking) or Incline Village 89450 (0% sold over asking), while Reno 89512 (32% sold over asking) and Reno 89519 (28% sold over asking) are even more competitive.