February 2025 Market Update for Reno, Sparks, Fernley, Carson City & Carson Valley
As we move into March, let’s take a look at how the February 2025 housing market performed across Reno, Sparks, Fernley, Carson City, and Carson Valley. These numbers reflect the ongoing shifts in home prices, inventory levels, and sales activity.
Here’s a detailed breakdown of the latest market trends and what they mean for buyers and sellers.
Reno Market Update
Median Sales Price: $615,000 (↑ 3.4% last month, ↑ 8.4% last year)
Active Inventory: 445 (↓ 9.0% last month, ↑ 30.7% last year)
Closed Sales: 195 (↓ 5.2% last month, ↓ 9.7% last year)
Median Days to Contract: 24 (↓ 40.0% last month, ↑ 3.5% last year)
Key Takeaways: Reno saw a price increase and a faster-moving market, with homes spending significantly less time on the market compared to January. Inventory remains higher than last year, giving buyers more choices.
Sparks Market Update
Median Sales Price: $523,606 (↓ 1.6% last month, ↓ 1.2% last year)
Active Inventory: 245 (↑ 3.4% last month, ↑ 7.5% last year)
Closed Sales: 122 (↑ 1.3% last month, ↑ 47.0% last year)
Median Days to Contract: 21 (↓ 4.5% last month, ↓ 28.0% last year)
Key Takeaways: Sparks saw a slight decrease in home prices while experiencing an increase in inventory and closed sales. Homes are moving quickly, and demand remains strong compared to last year.
Fernley Market Update
Median Sales Price: $399,950 (↑ 7.6% last month, ↑ 3.9% last year)
Active Inventory: 76 (↓ 1.3% last month, ↑ 12.8% last year)
Closed Sales: 28 (↓ 5.1% last month, ↓ 12.5% last year)
Median Days to Contract: 22 (↓ 53.2% last month, ↑ 4.8% last year)
Key Takeaways: Fernley saw strong price growth, with homes spending significantly less time on the market. However, closed sales dipped slightly, indicating that buyers are being selective.
Carson City Market Update
Median Sales Price: $532,475 (↓ 7.8% last month, ↓ 2.7% last year)
Active Inventory: 91 (↓ 14.2% last month, ↓ 27.4% last year)
Closed Sales: 54 (↓ 30.4% last month, ↓ 3.6% last year)
Median Days to Contract: 18 (↓ 42.9% last month, ↓ 21.3% last year)
Key Takeaways: Carson City saw a drop in prices and closed sales, suggesting a shift toward a more balanced market. However, homes are selling much faster than last month, making competition for well-priced homes still strong.
Carson Valley Market Update
Median Sales Price: $665,000 (↑ 5.5% last month, ↓ 1.5% last year)
Active Inventory: 120 (↑ 0.8% last month, ↑ 13.3% last year)
Closed Sales: 38 (↑ 9.1% last month, ↑ 15.2% last year)
Median Days to Contract: 28 (↓ 50.4% last month, ↑ 0.1% last year)
Key Takeaways: Carson Valley experienced price growth and an increase in closed sales, showing continued demand. Homes are selling much faster than last month, making it an active market for both buyers and sellers.
What This Means for Buyers & Sellers
For Buyers:
- More inventory means more options, especially in Reno and Sparks.
- Prices are stabilizing in some areas, making this a good time to negotiate.
- Homes are selling faster, so be ready to act when you find the right property.
For Sellers:
- Proper pricing is key—buyers are active, but they have options.
- Homes in competitive price ranges are moving fast, especially in Carson Valley and Fernley.
- Market conditions vary by area, so work with an experienced agent to position your home effectively.
Need Expert Advice? We’re Here to Help!
Navigating the real estate market can be overwhelming, whether you’re buying your first home, selling a property, or investing in Northern Nevada real estate. Our team is here to provide local insights, expert negotiation skills, and a personalized approach to help you reach your goals.
If you’re considering a move, let’s talk!
Robin, Kevin, and Sophie
Kinney and Renwick Team
License #’s: S067935 | BS0141620 | S197254
📧 [email protected]
📞 (775) 391-8402
🌐 kinneyandrenwickteam.com
