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Washoe County Home Prices Surge | Reno News
Washoe County’s real estate market just hit a record median home price of $644,000 in June—up 16.5% since January—driven by a severe inventory shortage and strong buyer demand. With fewer homes on the market and high-end sales boosting the median, sellers are in control despite rising interest rates. Unlike 2022’s peak, which collapsed after rate hikes, today’s market is holding steady even at 6.5% rates. As fall approaches, prices may ease slightly as inventory rises, but a new trend is emerging: buyers are increasingly demanding concessions like closing cost credits or rate buydowns to…
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