--- title: January 2023 Real Estate Market Update | Reno/Sparks |Market description: The Ken Angst discusses the Reno-Sparks real estate market with Elena Boland, of Wholesale Mortgage. The real estate market in Northern Nevada has slowed over the last few months and they discuss the latest trends. image: https://blog.livinginsouthreno.com/hubfs/Oct%202022%20Market%20Update%20(540%20%C3%97%20405%20px)%20(1)-2.png --- [![Logo](https://blog.livinginsouthreno.com/hs-fs/hubfs/Logo.png?width=1500&height=500&name=Logo.png "Logo")](https://www.livinginsouthreno.com/) Open main menu Close main menu - [Buyers](https://www.livinginsouthreno.com/buyers) - [Sellers](https://www.livinginsouthreno.com/sellers) - [Current Listings](https://www.livinginsouthreno.com/current-listings) - [Contact Us](https://www.livinginsouthreno.com/contact-us) [Podcast](https://blog.livinginsouthreno.com/tag/podcast) # January 2023 Real Estate Market Update | Reno/Sparks |Market ![Ken Angst REALTORĀ®, P.E. Nv Lic S.168655](https://app.hubspot.com/settings/avatar/4d8aeb5e1542057ee25a8b3a3a947d18) [Ken Angst REALTORĀ®, P.E. Nv Lic S.168655](https://blog.livinginsouthreno.com/author/ken-angst-realtor-haute-properties-nv) [Share this blog post on Twitter](https://twitter.com/intent/tweet?text=I+found+this+interesting+blog+post&url=https://blog.livinginsouthreno.com/january-2023-real-estate-market-update) [Share this blog post on Facebook](http://www.facebook.com/share.php?u=https://blog.livinginsouthreno.com/january-2023-real-estate-market-update) [Share this blog post on LinkedIn](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.livinginsouthreno.com/january-2023-real-estate-market-update) ![Brian Cushing and Ken Angst](https://blog.livinginsouthreno.com/hubfs/Oct%202022%20Market%20Update%20(540%20%C3%97%20405%20px)%20(1)-2.png) The Santa Claus rally of 2022 failed to materialize in our real estate market in December 2022. Our local market faced several stiff headwinds in December including a doubling of the mortgage rates since December 2021, stronger-than-expected winter storms, and of course the holiday season. The month-over-month median home price dropped 5% to approximately $520,000. More importantly, it was the first time in several years that our market actually lost value year over year. THAT IS CORRECT, the median home price is down 4.7% over the last 12 months. Check out our full market podcast below for full details. šŸ‘‡ As a bonus, Brian Cushing and I discuss seller concessions and how much a seller can offer to a buyer with a government loan. If you enjoy the podcast, please consider giving a likešŸ‘, sharing with a friend or family member, and subscribing to our channel so you can be alerted when new videos are released. #livinginsouthreno #marketupdate #realestate #realestateagent ### Leave a Comment ## Related Articles [![Ken Angst and Elena Boland photos with August Real Estate Market Update text. ](https://blog.livinginsouthreno.com/hubfs/Business%20Guest%20Speaker%20Collab%20YouTube%20Thumbnail.png)](https://blog.livinginsouthreno.com/august-2022-real-estate-market-update) [Podcast](https://blog.livinginsouthreno.com/tag/podcast) ### [August 2022 Real Estate Market Update | Reno/Sparks |Market Drifts Lower | Podcast with Guest Host Elena Boland](https://blog.livinginsouthreno.com/august-2022-real-estate-market-update) In our latest market update, Elena Boland, of Wholesale Mortgage stops by to discuss our market for August 2022. The real estate market in Northern Nevada has slowed... ![Ken Angst REALTORĀ®, P.E. Nv Lic S.168655](https://app.hubspot.com/settings/avatar/4d8aeb5e1542057ee25a8b3a3a947d18) [Ken Angst REALTORĀ®, P.E. Nv Lic S.168655](https://blog.livinginsouthreno.com/author/ken-angst-realtor-haute-properties-nv) [Read More](https://blog.livinginsouthreno.com/august-2022-real-estate-market-update) [![Text Property Value, Location, Market, Condition Neighborhood. Blurred image os man in suit pointing.](https://blog.livinginsouthreno.com/hubfs/Business%20man%20pointing%20to%20transparent%20board%20with%20text%20Property%20Value.jpeg)](https://blog.livinginsouthreno.com/pricing-your-home-why-a-comparative-market-analysis-is-crucial-0) [Seller Tips](https://blog.livinginsouthreno.com/tag/seller-tips) [Real Estate](https://blog.livinginsouthreno.com/tag/real-estate) ### [Getting Ready to Sell? Why A Comparative Market Analysis Is Crucial](https://blog.livinginsouthreno.com/pricing-your-home-why-a-comparative-market-analysis-is-crucial-0) Spring is a popular season for homeowners to list their properties for sale. If you are considering listing your home this spring, this is an opportune time to do your... ![Ken Angst REALTORĀ®, P.E. Nv Lic S.168655](https://app.hubspot.com/settings/avatar/4d8aeb5e1542057ee25a8b3a3a947d18) [Ken Angst REALTORĀ®, P.E. Nv Lic S.168655](https://blog.livinginsouthreno.com/author/ken-angst-realtor-haute-properties-nv) [Read More](https://blog.livinginsouthreno.com/pricing-your-home-why-a-comparative-market-analysis-is-crucial-0) ### The Angst Real Estate Team ### Sign Up for Our Newsletter ![haute-properties_angst-logo_white@2x](https://blog.livinginsouthreno.com/hs-fs/hubfs/haute-properties_angst-logo_white@2x.png?width=248&height=150&name=haute-properties_angst-logo_white@2x.png "haute-properties_angst-logo_white@2x") Ken Angst REALTORĀ®, P.E. Nv Lic S.168655 Haute Properties NV 5470 Kietzke Lane, Suite 300 Reno, NV 89511 Email: [angstrealestateteam@gmail.com](mailto:angstrealestateteam@gmail.com) Cell: [(775) 525-0309](tel:+17755250309) **MLSĀ® Disclaimer.** The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the Northern Nevada Regional Multiple Listing ServiceĀ®. Real estate listings held by brokerage firms other than the owner of this site are marked with the Broker Reciprocity logo and detailed information about those listings includes the name of the listing brokerage. Copyright 2022 of the Northern Nevada Regional Multiple Listing Service MLS. 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