August 2025 Reno NV Market Data - What Investors Should Watch

[Bradley Berger]

📉 TLDR: The market has softened, and sellers are giving up.

📍 Washoe County – August 2025

• Homes Sold: –11.3% YoY

• Months of Inventory: 3.6 → highest August in more than a decade

📍 Reno – August 2025

• Days on Market: 31 → double last year, highest August in more than a decade

• Unsold Listings: 11% of active homes came off the market without selling, indicating seller fatigue

🔍 Key Investor Takeaways

1. Prices Are Flat over 3+ years

2. Buyer Activity Is Way Down

• Longer term sales trend, considering the first 8 months of the years:

• Jan-Aug for 2023–2025 = 11,117 total homes sold

• Jan-Aug for 2020-2022 = 14,663 → 32% higher

• Jan-Aug for 2017-2019 = 15,929 → 43% lower

• That slowdown = less competition and more negotiability.

3. Supply Is Rising… Even With Fewer Listings

• New listings hit a record low, but inventory still rose - because homes aren’t selling

• Months Of Inventor now 3.6 → highest August in more than a decade for both Reno and Washoe overall

🎯 Best Investor Plays Right Now

• Older Listings: 30+ DOM could mean more flexible sellers

• Withdrawn/Expireds: 11% pulled off market → direct-to-seller outreach could be gold

• Fall Timing: As we move into the Fall/Winter months, seller pessimism may rise, improving ability to negotiate

[Devin Conley]

The Reno market does appear to have slowed down a bit this year, but honestly numbers are not totally unusual for the time of year.

e.g. monthly absorption rates are down YoY from 33.4% to 29.1% 

But other key stats like price drop rate are look typical and are actually slightly better YoY (down from 31.7% last August to 29.9% this year)