Is Reno, NV 89523 a buyer’s or seller’s market?
Reno is a seller’s market. With about 2.5 months of supply and 24% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 61% of U.S. ZIP codes, and #4 of 100 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Reno housing market right now
In the three months ending August 31, 2026, 24% of homes in Reno, NV 89523 sold above their list price, the typical home went under contract in 37 days and there were 2.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 161 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 11%, homes sold faster (46 days then) and the median sale price held steady to $660,964. Overall, Reno is more competitive than a year ago, so tougher for buyers.
Within Washoe County, homes here sell faster than in any other ZIP code in the county, and sell more often over asking than in 81%. On our competition score, Reno ranks #4 of 100 NV ZIP codes with enough sales (score 59 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.
Run the numbers for 89523
Nearby markets
Crystal Bay 89402Buyer’s market $2,648 /sq ftIncline Village 89450Seller’s market $753 /sq ftIncline Village 89451Balanced $763 /sq ftReno 89501Balanced $352 /sq ft Browse all markets →Towns like Reno nearby
Find towns like Reno in other states →Where Reno is
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Questions about Reno real estate
Is Reno a buyer’s or seller’s market?
A seller’s market: there were 2.5 months of supply in Reno, NV 89523 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Reno?
The typical home went under contract in 37 days in the latest three months.
Do homes in Reno sell over asking?
24% of homes sold above their original list price, and the typical sale closed at 99.3% of the list price.
What are property taxes in Reno?
About 0.44% of a home’s value a year in Washoe County, or roughly $1,760 on a $400,000 home.
What is the median home price in Reno?
The median sale price was $660,964 in the three months ending August 31, 2026, about $352 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology