Q1 2026 is in the books — and the actual MLS numbers tell a more nuanced story than the national headlines. Volume is up, prices are stable, and the real urgency in the market is real — but it is not evenly distributed. Here's exactly what the data shows, including a close look at South Reno's 89511 and 89521 zip codes, where a very different dynamic is playing out.

January through March, the Reno-Sparks metro closed 1,026 sales — up 3.9% from Q1 of last year. Median close price came in at $579,000, up nearly 2% year-over-year. Price per square foot moved from $313 to $316. And March alone closed 12% ahead of March 2025 — the spring market showed up.

Right now there are 643 active listings across the metro — and 525 of them are already under contract. That's 81 homes under contract for every 100 available. The market is running. But break it down by price point and you get two completely different realities.

Here's the stat that proves both things are true at once: 22.7% of homes that closed this quarter sold over list price, up from 18.3% last year. And yet average days on market also went up. How? Correctly priced homes are getting multiple offers and closing fast. Overpriced homes are sitting longer than ever. The market is not being gentle about the difference.

In late February, the 30-year fixed dropped below 6% for the first time since 2022 — real progress. Then geopolitical tension pushed rates back up to around 6.5% by end of March. But here's the local context that matters: rates are still lower than this time last year when they were sitting around 6.6%. The macro picture added uncertainty. It didn't stop our market — Q1 proves that.

If you're in Damonte Ranch, Arrow Creek, Field Creek, Montreux, or Saddlehorn — the broader Reno numbers don't tell your story. Here's what Q1 actually looked like in South Reno.

Here's the number that explains it all: the median active list price in South Reno right now is $1,052,500. The median price homes are actually selling at? $816,500. That's a $236,000 gap between what sellers are asking and what buyers are paying. That gap doesn't close because sellers wish it away.

Your strategy depends entirely on your price point:

Spring 2026 in Reno-Sparks: volume is up, prices are stable, and urgency is real — but it's not evenly distributed. Below $600K, it's a seller's market. Above $800K, the balance has shifted. And in South Reno, the data is telling sellers something they need to hear before they list.

Whether you're buying, selling, or just trying to understand what this means for your specific home, street, or subdivision — reach out. That's exactly what we do.