Ferrari-Lund Real Estate Reno/Sparks Quarterly Report, Q1-2021-Sheri Barnes

R E N O / S PA R K S Q U A R T E R LY MARKET REPORT

Q1 2021

Ferrari-Lund Real Estate

CONTENTS • 3 • 4-5 • 6-7 • 8-9

ABOUT US RENO | SPARKS RENO SPARKS

Sheri Barnes 775-745-6425 License No. S.51653 Sbarnesre4u@gmail.com Sherisellsrenohomes.com

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2021, Q1

ABOUT US Founded in 1988, Ferrari-Lund Real Estate is one of the premier real estate companies in the greater Reno-Sparks area. With over 190 agents and 3 offices strategically located throughout the beautiful Truckee Meadows, we are proud of our reputation of successfully serving the real estate needs of our community.

At Ferrari-Lund, we take a different approach by cultivating a more personal relationship with our clients. Our highest priority is to listen to your needs and find solutions specifically tailored to you.

Combining the latest technologies, market research and excellent business strategies, Ferrari-Lund agents make sure our closed deals are win-win experiences that yield positive results for all.

There are many facets to a successful real estate transaction and whether you are buying or selling, we make certain it is at the very best price. We love what we do and seek to make your transition and move a rewarding and enjoyable experience.

We hope you find this Market Informtion valuable and look forward to assisting you with all of your real estate needs.

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

2020, Q1, Ferrari-Lund Real Estate

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RENO/SPARKS COMBINED

2021, Q1 Market Summary New Lisitngs Sold Lisings Median List Price Median Sold Price Days to Contract Active Inventory

Jan, 2021 383 377 $440,000 $449,900 26 248

Mar, 2021 592 459 $480,000 $485,000 18 226

Feb, 2021 457 384 $465,000 $450,000 23 284

MEDIAN SALES PRICE Q1, 2021 2020

$500,000 $400,000

2021

$449,900 $405,000

$485,000 $450,000

$392,500

$415,000

$300,000 $200,000 $100,000 0

Jan.

Feb.

Mar.

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2021, Q1

RENO/SPARKS COMBINED

2020, Q1 v. 2021, Q1 Market Summary New Lisitngs Sold Lisings Median List Price Median Sold Price Days to Contract Active Inventory

2020, Q1 1,659 1,372 $425,000 $403,402 51 1,478

% Change -13.70% -11.10% 9.40% 15.10% -57.60% -59.10%

2021, Q1 1,432 1,220 $465,000 $464,500 22 604

ACTIVE INVENTORY 1000 800

-59.10%

600 400

2020, Q1

200 0

Jan.

Feb.

AVERAGE DAYS TO CONTRACT

-57.6% Q1,2020 51

Q1, 2021 22

2021, Q1

Mar.

NUMBER OF HOMES SOLD

-11.1%

Q1, 2020 1,372 Q1, 2021 1,220

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

2020, Q1, Ferrari-Lund Real Estate

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R e n o M a r k e t S u mm a ry March 2021, Reno (including North Valleys) had 293 sales of existing single-family homes; a decrease of 21 percent from last year and an increase of 11 percent from February 2021.

The median sales price in Reno for an existing single-family residence in March 2021 was $515,000; a 10.8 percent increase from the previous month and an increase of 19.8 percent from 2020.

All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for March 2021 in Reno was $247,450; a decrease of 2.5 percent from the prior year.

SINGLE FAMILY HOMES IN RENO

24

837

973

New Listings 2021, Q1

Total Sold 2021, Q1

Days on Market 2021, Q1

MEDIAN SALES PRICE $600,000 $500,000

2021

2020

$515,000 $471,500 $430,000

$400,000

$465,000 $406,000

$430,000

$300,000 $200,000 $100,000 0

Jan.

Feb.

Mar.

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2021, Q1

RENO Q1, 2021 Market Summary New Lisitngs Sold Lisings Median Listing Price Median Selling Price Days to Contract Active Inventory

Jan, 2021 239 274 $460,000 $471,500 29 193

Feb, 2021 316 264 $475,000 $465,000 28 218

Mar, 2021 418 293 $500,000 $515,00 19 175

2020, Q1 v. 2021, Q1 Market Summary New Lisitngs Sold Lisings Median Listing Price Median Selling Price Days to Contract Active Inventory

2020, Q1 1,159 951 $445,000 $420,000 54 1,053

2021, Q1 973 837 $479,900 $489,000 24 454

% Change -16.00% -12.60% 7.80% 16.40% -55.30% -56.90%

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

2020, Q1, Ferrari-Lund Real Estate

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S pa r k s M a r k e t S u mm a ry Sparks (including Spanish Springs) had 166 sales of existing single-family homes in March 2021; an increase of 12.9 percent from last year and a 38.3 percent increase from the previous month. The Sparks median sales price for an existing single-family residence in March 2021 was $446,718; an increase of 14.8 percent from last year and an increase of 7 percent from February 2021.

All sales numbers are for existing “stick built, single-family dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for March 2021 in Sparks was $239,000; an increase of 3.9 percent from last year.

SINGLE FAMILY HOMES IN SPARKS

16

389

459

New Listings 2021, Q1

Total Sold 2021, Q1

Days on Market 2021, Q1

MEDIAN SALES PRICE 2021

2020

$500,000 $417,995

$400,000

$370,000

$417,450 $370,500

$446,718 $389,000

$300,000 $200,000 $100,000 0

Jan.

Feb.

Mar.

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2021, Q1

SPARKS Q1, 2021 Market Summary New Lisitngs Sold Lisings Median Listing Price Median Selling Price Days to Contract Active Inventory

Jan, 2021 144 103 $421,450 $417,995 22 55

Feb, 2021 141 120 $435,000 $417,450 10 66

Mar, 2021 174 166 $445,000 $446,718 15 51

2020, Q1 v. 2021, Q1 Market Summary New Lisitngs Sold Lisings Median Listing Price Median Selling Price Days to Contract Active Inventory

2020, Q1 500 421 $397,250 $377,337 44 425

2021, Q1 459 389 $435,000 $428,000 16 150

% Change -8.20% -7.60% 9.50% 13.40% -63.10% -64.70%

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

2020, Q1, Ferrari-Lund Real Estate

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DAMONTE OFFICE

SPARKS OFFICE

LAKESIDE OFFICE

500 Damonte Ranch Pkwy.

4990 Vista Blvd.

3700 Lakeside Drive

Suite 804

Suite 100

Reno, NV 89521

Sparks, NV 89436

Reno, NV 89509

775-850-7033

Direct: 775-685-7788

775-688-4000

WWW.FERRARI-LUND.COM