Ferrari-Lund Real Estate Reno/Sparks Quarterly Market Report, Q3-2021

R E N O / S PA R K S 3rd QUARTER MARKET REPORT

Q3 2021

Ferrari-Lund Real Estate

CONTENTS • 3

ABOUT US

• 4-5

RENO | SPARKS

• 6-7 • 8-9

RENO SPARKS

Ferrari-Lund Real Estate 775-688-4000 www.Ferrari-Lund.com NV Lic. #B.18862.CORP

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, Q3

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.

2021, Q3, Ferrari-Lund Real Estate

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RENO/SPARKS COMBINED

Q3, 2020 v. Q3, 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q3 2,158 1,783 $550,000 $530,000 7 1,159

2020, Q3 2,017 2,108 $445,000 $437,498 11 1,331

% Change 7.00% -15.40% 23.60% 21.10% -36.40% -12.90%

MEDIAN SALES PRICE, YEAR TO DATE, 2021 2020

$600,000

2021

$500,000 $400,000 $300,000 $200,000 $100,000 0

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep.

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, Q3

RENO/SPARKS COMBINED

Q2 v. Q3 - 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q3 2,158 1,783 $550,000 $530,000 7 1,159

2021, Q2 1,925 1,766 $525,000 $510,000 6 826

% Change 12.10% 1.00% 4.80% 3.90% 16.70% 40.30%

ACTIVE INVENTORY 1000 800

1.2%

600 400

2020

200 0

2021

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep.

NUMBER OF HOMES SOLD

AVERAGE A D S Y OT ONTR C ACT

-36.4%

Q3, 2021 7 Q3, 2020 11

-15.4%

Q3, 2021 1,783 Q3, 2020 2,108

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

2021, Q3, Ferrari-Lund Real Estate

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R e n o M a r k e t S u mm a ry September 2021, Reno (including North Valleys) had 406 sales of existing single-family homes: a decrease of 17 percent from last year and an increase of 4.4 percent from August 2021. The median sales price in Reno for an existing single-family residence in September 2021 was $550,000; no change from the previous month and a 19.6 percent increase from September 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/townhomemedian sales price for September 2021 in Reno was $287,500; an increase of 4.5 percent from the prior year.

SINGLE-FAMILY HOMES IN RENO

7

1,236

1,494

New Listings 2021, Q3

Total Sold 2021, Q2

Days on Market 2021, Q2

MEDIAN SALES PRICE $600,000

2020

2021

$500,000 $400,000 $300,000 $200,000 $100,000 0

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep.

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, Q3

RENO Q2 v. Q3 - 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q2 1,372 1,254 $550,000 $535,000 6 630

2021, Q3 1,494 1,236 $579,450 $550,000 7 856

% Change 8.90% -1.40% 5.40% 2.80% 16.70% 35.90%

Q3, 2020 v. Q3, 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2020, Q3 1,398 1,431 $475,000 $459,995 12 1,004

2021, Q3 1,494 1,236 $579,450 $550,000 7 856

% Change 6.90% -13.60% 22.00% 19.60% -41.70% -14.70%

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

2021, Q3, 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 194 sales of existing single-family homes in September 2021: a decrease of 14.9 percent from last year and a 2.5 percent decrease from the previous month. The Sparks median sales price for an existing single-family residence in September 2021 was $494,500; an increase of 20.3 percent from last year and an increase of 5.2 percent from August 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 September 2021 in Sparks was $272,500; an increase of 13.5 percent from last year.

SINGLE-FAMILY HOMES IN SPARKS

547

664

New Listings 2021, Q3

6

Total Sold 2021, Q3

Days on Market 2021, Q3

MEDIAN SALES PRICE 2020

$600,000

2021

$500,000 $400,000 $300,000 $200,000 $100,000 0

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep.

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, Q3

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SPARKS Q2 v. Q3 - 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q2 553 677 $407,500 $415,000 9 327

2021, Q3 664 547 $525,000 $500,000 6 303

% Change 20.1% -19.2% 28.8% 20.5% -33.3% -7.3%

Q3, 2020 v. Q3, 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2020, Q3 619 512 $479,900 $465,000 5 196

2021, Q3 664 547 $525,000 $500,000 6 303

% Change 7.3% 6.8% 9.4% 7.5% 20.0% 54.6%

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

2021, Q3, Ferrari-Lund Real Estate

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All reports are based on single family homes in the Reno & Sparks area(s).

Dates between 1/1/2020 - 9/30/2021.

Data Provided by NNRMLS. @2021 Domus Analytics.

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Ferrari-Lund Real Estate, 2021, Q3

2021, Q3, Ferrari-Lund Real Estate 11