Reno Real Estate Market Overview

By Robin Rothstein

(Last Updated – 4/2025)

Welcome to the Biggest Little City in the World. Don’t let Reno’s reputation for being a lesser version of Las Vegas fool you; this small but mighty city boasts a thriving arts scene, excellent dining, a lively casino culture, and more.

Nestled in the Sierra Nevada foothills, Reno offers a unique blend of urban amenities and outdoor adventures. The city’s proximity to Lake Tahoe and the Sierra Nevada mountains makes it a paradise for outdoor enthusiasts, with ample opportunities for skiing, hiking, and biking. Reno also has a growing tech industry and a low cost of living compared to nearby California. With its friendly communities, diverse job market, and striking natural beauty, Reno is an appealing place to call home for those seeking a balanced lifestyle. Read on to learn more about the Reno real estate market, including housing prices, forecasts, and neighborhood demographics.

Overall Reno Market Trends

The real estate pros at Redfin consider the Reno housing market to be competitive at times.

The Reno real estate market is considered somewhat competitive, according to Redfin. In February 2025, the median home price was around $543,000, up 9% year-over-year. On average, homes in Reno receive one offer, sell for about 2% below list price, and sit on the market for 63 days (compared to 50 days a year ago). Highly desirable homes, however, often get multiple offers, tend to go for list price, and typically only sit on the market for a month before getting scooped up.

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Reno Housing Market Forecast

Housing prices have been on the rise in Reno over the last couple of years, and the market is expected to remain strong through 2026, driven by a tight inventory that favors sellers. However, the news for buyers isn’t all bad: Home prices are still below their June 2022 highs, and prices aren’t rising as quickly as they once were. In addition, homes are generally sitting on the market a bit longer, giving buyers more time to shop around and evaluate their options.

How Hot Is the Reno Housing Market?

The Reno area attracts people from all over the country due to its affordability, strong economy, and beautiful scenery. All of these factors, including its steady population growth, continue to drive demand for housing in the area.

Compared to other West Coast cities like San Francisco and Seattle, Reno may be more affordable to buy or rent. This makes the area desirable for people looking to move out of more expensive areas. Plus, Reno’s proximity to popular destinations like Las Vegas and Lake Tahoe make it ideal for tourists and outdoorsy folks.

Reno also boasts a healthier job market than similarly sized cities, with its plethora of tech start-ups and small businesses. The business-friendly taxes, combined with low property taxes and a lack of state income tax, make Reno appealing to both corporations and people looking to relocate.

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Demographics of the Reno Market

Popular Reno Neighborhoods

Whether you want all the city vibes or you’re looking to feel more connected with nature, there is probably a neighborhood in Reno that can suit your needs.

Keep reading for handy fast facts about five popular Reno neighborhoods, including average home prices, demographics, and quality of life.

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Downtown

There is plenty of hustle and bustle in Downtown Reno, thanks to being within walking distance of the University District. Think: dining, nightlife, shops, the works.

Whether residents are looking for a condo, apartment, or house, Downtown has every type of housing option available.

Downtown Housing Market

Hidden Valley

Situated along Reno’s hilly outskirts, Hidden Valley is known for its serene and secluded atmosphere. This neighborhood offers residents a peaceful retreat with large lots and well-landscaped homes, along with close proximity to outdoor recreational areas, including trails and parks. Despite its tranquil setting, Hidden Valley is conveniently close to downtown Reno, providing easy access to urban amenities and entertainment.

Hidden Valley Housing Market

Double Diamond

Double Diamond is a laid-back and family-friendly neighborhood in south Reno. This master-planned community offers a variety of housing options, from apartments to spacious single-family houses. Residents enjoy access to top-rated schools, parks, and community amenities, including sports fields and walking trails. The area’s proximity to both the Sierra Nevada mountains and downtown Reno makes it an ideal choice for those seeking easy access to nature without being too far off the beaten path.

Double Diamond Housing Market

Northwest

Northwest Reno is a scenic and affluent area known for its large, well-maintained homes and beautiful landscapes. Surrounded by the Sierra Nevada mountains, this neighborhood offers residents stunning views and a peaceful, suburban lifestyle. It’s also highly regarded for its excellent schools and safe, family-friendly environment. Despite its tranquil setting, Northwest Reno is just six miles west of downtown, providing easy access to urban and cultural attractions.

Northwest Housing Market

Somersett

Golf fans will find plenty of ways to pass the time in Somersett, as this neighborhood is home to the nine-hole Tom Kite-designed Canyon Nine Golf Course.

Non-golfers can enjoy more than 27 miles of walking and biking trails, with more rugged and invigorating hikes in close proximity. What’s more, Lake Tahoe is only a 45-minute drive away, while Downtown Reno and all its urban amenities is a mere 15 minutes away. Somersett offers a mix of housing options, including single family homes and townhouses.

Somersett Housing Market

Boise Real Estate Market Overview

By Robin Rothstein

(Last Updated – 4/2025)

Boise, the capital of Idaho, is a vibrant city known for its outdoor recreation, cultural attractions, and growing economy. Ranked the second-best place to live in the U.S. in 2024-25 by U.S. News & World Report, Boise boasts a hip restaurant scene, hundreds of miles of trails, and a mountain-fed river running through the center of town. The area’s unique mix of urban and rural living may explain why home values are up 3.2% over the past year, faster than the national growth rate of 2.6%, according to Zillow.

Despite these rising prices, Boise remains desirable due to its easy access to outdoor activities (including hiking, biking, and skiing), strong job market, and thriving tech industry. The city’s rich cultural offerings, including galleries, museums, theaters, and music festivals, contribute to its appeal as a place to live.

Overall Boise Market Trends

Real estate experts consider the Boise market to be “somewhat competitive,” with homes receiving an average of four offers and selling in around 37 days.

Thanks to a slight rise in inventory, buying a home in Boise isn’t the crazy rush it was a couple of years ago. That said, highly desirable (aka, “hot”) homes can get snapped up within seven days, according to Redfin.

In February 2025, the median sales price of a home in Boise was $480,000. The median sale price per square foot was $302. On average, homes sell for about 1% below list price.

Boise Housing Market Forecast

Home prices aren’t skyrocketing the way they were between August 2020 and June 2022. After a period of decline between June 2022 and May 2023, however, costs have been creeping up. Even so, the average home value of $492,024 in February 2025 is still below the market high of $527,413 in June 2022.

Still, many realtors characterize Boise as more of a seller’s than a buyer’s market, and forecast prices either holding steady or gradually going up in the next couple of years.

Demographics of the Boise Market

Popular Boise Neighborhoods

Boise is home to 35 neighborhoods, but here are fast facts about five of the most popular ones to help make your decision a bit easier.

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North End

The stunning North End is known nationwide for being the gateway to the Boise foothills and home to Hyde Park, so nature lovers will feel right at home here.

This neighborhood is full of trees and flowers, plus sightseeing, dining, and shopping options. It’s pedestrian friendly and popular with singles and families alike.

North End Housing Market

Downtown

Downtown Boise has so much to offer: arts and entertainment, business and career opportunities, food galore, and an exciting energy and vibrancy.

Downtown Housing Market

Morris Hill

Morris Hill is dripping with charm thanks to its historic homes, mature trees, and stunning landscaping. It’s obvious why so many younger folks are moving in and reviving the homes from the turn of the century to midcentury.

Locals like to stroll down Orchard Street on the weekends. This hot spot offers a nice variety of restaurants, specialty shops, and locally owned businesses.

Morris Hill Housing Market

Southeast Boise

Southeast Boise is a rapidly growing neighborhood that offers access to a river, greenbelt, and the hustle and bustle of downtown.

Southeast Boise’s close proximity to major parks, sports complexes, trendy new restaurants, and Boise State University doesn’t hurt.

Southeast Boise Housing Market

East End

This upscale historic district covers 39 blocks and consists of primarily single-family homes. Founded in 1890, East End has changed quite a bit over the years.

The most common architectural style in this area is the Craftsman bungalow, but you’ll also see quite a few Queen Anne cottages. Architecture buffs will love all of the options available to them.

East End Housing Market

Phoenix Real Estate Market Overview

By Robin Rothstein

(Last Updated – 4/2025)

The enduring appeal of Phoenix — including its modest cost of living and higher quality of life — is still going strong.

In fact, Phoenix is now the fifth largest city in the U.S., with some 4.8 million people residing in the Phoenix metro area as of 2025 — an increase of nearly 2 million residents in just the last 25 years.

That steady growth reflects some of the key factors that draw people to the Valley of the Sun. Thanks to its desert locale, the city hasn’t been as constrained by land limitations, so businesses have been able to expand and provide job opportunities across a diversity of sectors, from tourism to financial services.

While Phoenix has become known for its sprawl, the average commute time is still less than 25 minutes, and it has a well-deserved reputation for its access to nature — with 41,000 acres of desert parks and preserves, and 200-plus miles of hiking trails. No wonder younger people (the average age here is about 35) want to call Phoenix home. If you’re raising a family, you can rest easy knowing that Phoenix has 325 public schools and 200 charter and private schools to choose from.

Although Phoenix can be a competitive market — and home values remain high, as they are throughout most U.S. markets — real estate prices are showing a modest 1% drop in early 2025, according to Zillow, signalling some breathing room. In the past year, the median sale price of about $413,083 is notably lower than the median list price of about $469,667. Here’s what you need to know if you’re looking to buy in Phoenix.

Overall Phoenix Market Trends

When it comes to local housing market trends, it pays to keep an eye on various factors when considering a home purchase in Phoenix. Neighborhood prices can vary, and it’s important to bear in mind that the white hot surge — which brought median home prices up to $413,000 today from $279,000 five years ago — has eased.

Unlike some other metro areas, Phoenix has seen some welcome growth in available homes for sale, with some 23,699 listings in February 2025, a 45% increase over a year ago.

Still, homebuyers can have their work cut out for them, as houses go pending in around 32 days.

Phoenix Housing Market Forecast

Like the weather, the Phoenix housing market tends to be hot, although the boost to the housing supply has had a cooling effect. While February home prices went down 1% in the Phoenix metro area compared with the prior year, prices are projected to make up that difference and rise about 1.4% by January 2026.

Demand in Phoenix

With inventory kicking up and buyer demand still relatively high, real estate experts say that Phoenix continues to be a seller’s market. That said, interest rates have not fallen as much as some buyers might have hoped in 2025, hovering at about 6.63% for a 30-year fixed mortgage.

Despite competitive home prices, though, Phoenix remains a relatively affordable place to live, with a cost of living at only 6.3% above the national average, according to the Council for Community and Economic Research’s 2024 Cost of Living Index. It is also worth noting that median home prices in Phoenix are lower than some other big cities, like Los Angeles and Portland.

If you are looking to buy into the Phoenix market, real estate experts suggest that this could be a good long-term opportunity if you find a property in your budget.

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Demographics of the Phoenix Market

Popular Phoenix Neighborhoods

Phoenix offers a diverse group of neighborhoods to choose from, so do your research before deciding which may be right for you.

The cost of homes, median household income, amenities, and age of residents can vary greatly by neighborhood, of course, but chances are there is a spot that will check all your boxes. Here are five popular neighborhoods in Phoenix to explore.

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Ahwatukee Foothills

This quiet, family-friendly suburb lies south of Phoenix proper. While the cost of living here can run a little higher, it’s also got a lower crime rate than other areas — as well as good schools. Ahwatukee Foothills tends to be car dependent, with few people biking or walking.

Ahwatukee Foothills Housing Market

Desert View

This well-populated, affluent suburb lies north of downtown Phoenix, and is known for its views of the famous Sonora desert. The area includes a pleasant mix of city life and a more relaxed family vibe. Horse lovers can check out equestrian ranch properties, as well. With its cafes and parks, plus very good schools, this neighborhood is convenient, safe, and comfortable.

Desert View Housing Market

Paradise Valley Village

Paradise Valley Village is a bustling, outdoor-friendly neighborhood in northeast Phoenix (and not to be confused with the town of Paradise Valley, which is closer to Scottsdale). It’s known for its golf courses, as well as the Scottsdale Greenbelt trail — a favorite with cyclists. Residents consider it a highly walkable area as well, which adds to its community feel.

Paradise Valley Village also offers plenty of big city amenities: casual dining pubs, restaurants, local artisans, and indoor shopping plazas.

Paradise Valley Village Housing Market

Camelback East

With its stunning mountain views, Camelback East Village lies between the Phoenix Mountains to the north and the Salt River to the south. It’s known for its hiking trails, access to the renowned Desert Botanical Garden as well as the Phoenix Zoo. Compared with other Phoenix areas, Camelback East has a reputation for attracting young professionals — with a lot of the nightlife, bars, and other amenities this younger demographic enjoys.

Camelback East Housing Market

Deer Valley

Deer Valley Village, which encompasses the neighborhood of Deerview, is a dynamic residential neighborhood with one of the highest livability scores in Phoenix. There are a number of popular parks for hikers and bikers (as well as families out with the kids), including Cave Buttes and the Adobe Dam Regional Park, where you can find the Adobe Mountain Train Museum. The excellent school system here is another big draw for young families.

Deer Valley Housing Market