Ferrari-Lund Real Estate Reno/Sparks Quarterly Market Report, Q1-2022 - Gino Rossi

R E N O / S PA R K S Q1-2022 MARKET REPORT

Q1 2022

Ferrari-Lund Real Estate

CONTENTS • 3 • 4-5 • 6-7 • 8-9

ABOUT US RENO | SPARKS RENO SPARKS

Gino Rossi 775-240-7516 License No. B.S.146118 GinoRossi.Ferrari-Lund.com GinoRossi@Ferrari-Lund.com

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Ferrari-Lund Real Estate, 2022, 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.

2022, Q1, Ferrari-Lund Real Estate

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RENO/SPARKS COMBINED

Q1, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q1 1,507 1,245 $465,000 $461,500 6 301

2022, Q1 1,469 1,266 $584,900 $570,000 6 358

% Change -2.50% 1.70% 25.80% 23.50% 0.00% 18.90%

MEDIAN SALES PRICE, YEAR TO DATE, 2022 2021, Q1

2022, Q1

$600,000 $500,000 $400,000 $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. @2022 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2022, Q1

RENO/SPARKS COMBINED

Q1, 2022 v. Q4, 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2022, Q1 1,469 1,266 $584,900 $570,000 6 358

2021, Q4 1,303 1,638 $549,950 $540,000 11 354

% Change 12.70% -22.70% 6.40% 5.60% -45.50% 1.10%

ACTIVE INVENTORY 350 300

-23.40%

250 200 150 100

2021, Q1

50 0

Jan.

Feb.

2022, Q1

Mar.

CASH SALES IN RENO/SPARKS COMBINED

292 Total Cash Sales 2022, Q1

22.95% Percent of All Sales 2022, Q1

-10.14% Cash Sales over Last Year

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.

2022, Q1, Ferrari-Lund Real Estate

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R e n o M a r k e t S u mm a ry Reno (including North Valleys) March 2022, had 335 sales of existing single-family homes; an increase of 9.8 percent from last year and an increase of 27.4 percent from February 2022. The median sales price in Reno for an existing single-family residence in March 2022 was $600,000; a 3.4 percent increase from the previous month and an increase of 17.9 percent from 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 2022 in Reno was $306,250; a increase of 22 percent from the prior year.

CASH SALES IN RENO

220

24.94%

-3.96%

Percent of All Sales 2022, Q1

Total Cash Sales 2022, Q1

Cash Sales over Last Year

MEDIAN SALES PRICE 2021, Q1

2022, Q1

$600,000 $500,000 $400,000 $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. @2022 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2022, Q1

RENO Q4, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q4 882 1,131 $575,000 $559,900 12 262

2022, Q1 1,028 877 $599,950 $590,000 6 286

% Change 16.60% -22.50% 4.30% 5.40% -50.00% 9.20%

Q1, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q1 1,033 847 $480,000 $485,000 6 231

2022, Q1 1,028 877 $599,950 $590,000 6 286

% Change -0.50% 3.50% 25.00% 21.60% 0.00% 23.80%

2022, 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) Sparks had 153 sales of existing single-family homes in March 2022; an decrease of 10 percent from last year and a 35.4 percent increase from the previous month. The Sparks median sales price for an existing singlefamily residence in March 2022 was $550,000; an increase of 23.1 percent from last year and an increase of 7.8 percent from February 2022.

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 2022 in Sparks was $297,500; an increase of 24.5 percent from last year.

CASH SALES IN SPARKS

72

18.41%

-25.22%

Percent of All Sales 2022, Q1

Total Cash Sales 2022, Q1

Cash Sales over Last Year

MEDIAN SALES PRICE 2021, Q1

$600,000

2022, Q1

$500,000 $400,000 $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. @2022 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2022, Q1

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SPARKS Q4, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q4 421 507 $524,950 $505,000 10 92

2022, Q1 441 389 $550,000 $533,000 5 72

% Change 4.80% -23.30% 4.80% 5.50% -50.00% -21.70%

Q1, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q1 474 398 $440,000 $428,962 6 70

2022, Q1 441 389 $550,000 $533,000 5 72

% Change -7.00% -2.30% 25.00% 24.30% -16.70% 2.90%

2022, Q1, Ferrari-Lund Real Estate

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

Dates between 1/1/2021 - 3/31/2022.

Data Provided by NNRMLS. @2022 Domus Analytics.

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Ferrari-Lund Real Estate, 2022, Q1

2022, Q1, Ferrari-Lund Real Estate 11

DAMONTE OFFICE

SPARKS OFFICE

LAKESIDE OFFICE

500 Damonte Ranch Pkwy.

4990 Vista Blvd.

3700 Lakeside Drive

Suite 804

Sparks, NV 89436

Suite 100

Reno, NV 89521

775-685-7788

Reno, NV 89509

775-850-7033

775-688-4000

WWW.FERRARI-LUND.COM