What's Selling Fastest in Reno by Price Range

In the current Reno housing market, homes priced under $400k have been moving the fastest over the past 30 days. This article explores the price bands that are experiencing rapid sales activity and how they compare across different segments.

1. Under $400k

The lowest-priced tier in Reno has seen strong performance with a median sale-to-list ratio of 96.9%. Over half of these sales closed at or above asking, indicating that homes priced under $400k are attracting significant buyer interest despite their lower price point.

2. $750k–$1M

The mid-tier market segment is also active, with a median days on market (DOM) of 58 days and a sale-to-list ratio of 98.9%. While fewer sales have closed at or above asking compared to the under-$400k range, this tier still shows solid demand among buyers.

3. $500k–$600k

Homes priced between $500k and $600k are seeing a median DOM of 59 days and a perfect sale-to-list ratio of 100%. Over half of the sales in this range closed at or above asking, highlighting that buyers remain willing to pay top dollar for properties in this price band.

4. $400k–$500k

The middle market continues its strong performance with a median DOM of 63 days and a sale-to-list ratio of 99%. A significant portion of sales (45%) closed at or above asking, suggesting that homes in this price range are selling quickly and often without discounts.

5. $600k–$750k

The upper mid-tier market has been experiencing a median DOM of 69 days with a sale-to-list ratio of 100%. Over half of the sales closed at or above asking, indicating that buyers are willing to pay full price for homes in this range.

6. Over $1M

While homes priced over $1 million have seen slower median DOMs (83 days) and a slightly lower sale-to-list ratio (97.7%), they still show robust demand with a third of sales closing at or above asking. This segment remains an attractive option for those seeking luxury properties.

What this data does and doesn't say

This list is computed from MLS closed-sale records over the trailing 30 days, including residential properties only. The figures presented here are reflective of single-month activity and may fluctuate as market conditions change nar.realtor. All metrics come directly from the dataset used in the Biggest Little Market Report.

Questions people ask

• What does a median DOM mean?

A median DOM is the midpoint number where half of homes sold faster than this number, and half sold slower. For example, if the median DOM is 60 days, it means that 50% of sales took less time and 50% took more.

• Why do some price ranges have fewer sales?

Higher-priced properties naturally see fewer transactions due to their limited availability and target market size.

• Are these figures reliable for long-term planning?

While the data provides a snapshot of recent activity, it's important to consider broader market trends and consult with a local real estate professional for detailed insights.