Reno Home Values

For the second consecutive month, sellers in Reno, TX gave up more ground at the closing table. More than a third of transactions now carry a concession, up from roughly one in four last month, with the average giveback holding near $8,400. Based on MLS data for 2026-07 closings in Reno, buyers closed near 96 cents on the dollar against list price, with roughly two in five homes selling under list and none above it. Completed sales settled near $174 per square foot against a $186 trailing-twelve-month median, while time to close narrowed to 50 days. With just 31 closings, the sample is thin, but the pattern holds: sellers are conceding more even as homes move faster.

Active listings in Reno held nearly flat this quarter, but the contract side of the ledger did not keep pace — just 7 homes moved to pending against 63 active, a supply-to-contract gap that leaves months of supply near six months, down from the trailing-twelve-month reading but still comfortably in buyer-favoring territory. New listings continued arriving at a pace of roughly a dozen a month, replenishing the shelf faster than contracts cleared it. Parker County's far larger inventory shows a similar, if somewhat looser, imbalance, suggesting Reno's softened negotiating position tracks the broader county backdrop rather than a local anomaly.

Days on market in Reno, TX stretched to roughly 77 days for the most recent quarter — a notable widening from the 62-day median recorded across the trailing twelve months. Based on MLS data for 2026-06 closings in Reno, completed transactions settled near $182 per square foot, a modest uptick from the prior quarter while still trailing the longer-run average of $191. Sellers continued to give ground at closing, with buyers closing nearly five cents on the dollar below the original ask, though the concession rate held near one in four transactions. No closings cleared above list price in the quarter. With roughly two dozen closings, the limited sample suggests these velocity signals are directional rather than definitive — but the extended time-to-close points toward a market where buyers are taking their time.

The pipeline in Reno points toward continued deceleration in near-term activity. Active listings held near 66 homes while pending contracts numbered only around 14 — a roughly five-to-one imbalance that keeps months of supply near eight and a half months, a meaningful improvement from the near-ten-month reading of the prior quarter but still firmly in buyer-favoring territory. New listing additions outpaced the contract pace over the window, adding further supply. Parker County’s pipeline, with over 2,900 active listings and close to 570 pending contracts, reflects a comparably soft absorption backdrop at the county level, suggesting this deceleration is not unique to Reno.

Price per square foot in Reno, TX has trended noticeably softer in the most recent quarter, with completed sales settling near $178 per square foot — directionally lower than the $190 recorded across the trailing twelve months. Based on MLS data for 2026-05 closings in Reno, the median sale price for the quarter landed near $434,000, while sellers surrendered roughly five cents on the dollar at closing. Nearly half of all transactions closed below list price, and about one in four buyers received concessions averaging roughly $8,000. With only two dozen closings this quarter, price signals carry meaningful uncertainty, but the direction of the data suggests softening valuations against a stronger prior-year baseline that showed more than 20 percent annual appreciation.

The pipeline in Reno reflects a market where supply is outrunning demand by a considerable margin. Active listings — roughly 64 homes — outnumber pending contracts by nearly five to one, pointing to an absorption rate that keeps months of supply near ten months. New listing activity continues to exceed the pace of contracts written, and Parker County's broader trend mirrors this imbalance, though at a somewhat greater scale. The limited pending count suggests near-term closings will remain modest, sustaining conditions that currently favor buyers across the mid-range of the market.