Currently there are 2672 homes on the market in the greater Reno and Sparks area. Of that amount there are 1917 that are in escrow, (pending) making the actual amount of homes on the market that are not sold is 753. Economists judge the market by how many homes are being sold per month versus how many on the market, a balanced market is about 6 to 7 months. Meaning at the current rate we are selling homes, which is 500 per month we would sell all of the inventory in just over 5 months.

That means our area is currently in a Sellers market based on the current statistics. Keep in mind the new law that went into effect last October, AB 284 which is restricting the number of foreclosures on the market. It says banks cannot foreclosure on a seller unless they can locate the original note, which can be very difficult if the loan has been sold several times.

  • 2672  The number of homes on the market

  • 1917  The number of those homes that are in escrow

  • 1347  Of those are short sales

  • 183  Of those are foreclosures or REO's

  • 378  Of those have no conditions or regular sales

Below is the actual number of homes on the market that are not under contract


  • 590  On the market with no condition or regular sale

  • 50  Foreclosures on the market

  • 113  Short Sales on the market

  • 753  Is the actual number of homes on the market that are not under contract

What buyers need to take away from this is the market has turned, we are seeing multiple offers again. Buyers need to be preapproved and get rid of the notion that sellers will accept low ball offers, just not happening. The short sales that still need to be worked through are going to restrict the prices from jumping drastically but we have reached a bottom and prices will slowly start to climb.

If  you are a serious buyer, contact us and let one of our very experienced agents on the Dave Hughes Team help you.

Posted by David Hughes on


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