Is Reno, NV 89508 a buyer’s or seller’s market?

The Reno housing market right now

In the three months ending August 31, 2026, 26% of homes in Reno, NV 89508 sold above their list price, the typical home went under contract in 41 days and there were 4 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 40 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 16%, homes sold faster (70 days then) and the median sale price rose 3% to $514,777. Overall, Reno is more competitive than a year ago, so tougher for buyers.

Within Washoe County, homes here sell faster than in 86% of the county’s ZIP codes, and sell more often over asking than in 90%. On our competition score, Reno ranks #20 of 100 NV ZIP codes with enough sales (score 50 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.