Ferrari-Lund Real Estate Reno/Sparks Quarterly Market Report, Q2-2022-Ron Eckroat

R E N O / S PA R K S 2 0 2 2 , M I D -Y E A R MARKET REPORT

Q2, 2022

Ferrari-Lund Real Estate

CONTENTS • 3 • 4-5 • 6-7 • 8-9

ABOUT US RENO | SPARKS RENO SPARKS

Ron Eckroat 775-338-0432 License No. BS.145572 Roneckroat@ferrari-lund.com Roneckroat.ferrari-lund.com

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Ferrari-Lund Real Estate, 2022, Q2

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, Q2, Ferrari-Lund Real Estate

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RENO/SPARKS COMBINED

Q2, 2021 v. Q2, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

Q2, 2022 2,359 1,462 $630,000 $605,000 8 1,732

Q2, 2021 1,950 1,770 $525,000 $509,500 5 840

% Change 21.00% -17.40% 20.00% 18.70% 60.00% 106.20%

MEDIAN SALES PRICE, YEAR TO DATE, 2022 2021

$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 0

Jan.

Feb.

Mar.

2022

Apr.

May

Jun.

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, Q2

RENO/SPARKS COMBINED

Q1, 2022 v. Q2, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

Q1, 2022 1,486 1,282 $585,000 $568,450 5 725

Q2, 2022 2,359 1,462 $630,000 $605,000 8 1,732

% Change 58.70% 14.00% 7.70% 6.40% 60.00% 138.90%

ACTIVE INVENTORY 1,200 1,000

138.9%

800 600 400

2021

200 0

Jan.

Feb.

Mar.

Apr.

AVERAGE DAYS TO CONTRACT

60.0%

Q1,2022 5

Q2, 2022 8

May.

2022

Jun.

NUMBER OF HOMES SOLD

14.0%

Q1, 2022 1,282

Q2, 2022 1,462

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

2022, Q2, Ferrari-Lund Real Estate

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R e n o M o n t h ly M a r k e t S u mm a ry June 2022, Reno (including North Valleys) had 329 sales of existing single-family homes; a decrease of 28.9 percent from last year and a decrease of 12.5 percent from May 2022.

The median sales price in Reno for an existing single-family residence in June 2022 was $635,000; a slight increase of less than 1 percent from the previous month and an increase of 15.5 percent from 2021. All sales numbers are for existing “stick built, singlefamily dwellings” only and do not include condominiums, townhomes, manufactured, modular or newly constructed homes. The existing condominium/townhome median sales price for May 2022 in Reno was $345,000; an increase of 22.1 percent from the prior year.

SINGLE-FAMILY HOMES IN RENO New Listings

Total Sold

June, 2022

June, 2022

Median Sold Price

329

628

$635,000 June, 2022

MEDIAN SALES PRICE $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 0

2021

Jan.

Feb.

2022

Mar.

Apr.

May.

Jun.

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, Q2

RENO Q1, 2022 v. Q2, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

Q1, 2022 1,043 888 $600,000 $590,000 6 550

Q2, 2022 1,673 1,042 $650,000 $630,000 8 1,250

% Change 60.40% 17.30% 8.30% 6.80% 33.33% 127.30%

Q2, 2021 v. Q2, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

Q2, 2021 1,392 1,256 $550,000 $535,000 6 642

Q2, 2022 1,673 1,042 $650,000 $630,000 8 1,250

% Change 20.20% -17.00% 18.20% 17.80% 33.33% 94.70%

2022, Q2, Ferrari-Lund Real Estate

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S pa r k s M o n t h ly M a r k e t S u mm a ry Sparks (including Spanish Springs) had 118 sales of existing single-family homes in June 2022; a decrease of 33.7 percent from last year and a decrease of 18.6 percent from the previous month.

The Sparks median sales price for an existing single-family residence in June 2022 was $551,000; an increase of 14.6 percent from last year and a decrease of 3.3 percent last month. 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 June 2022 in Sparks was $315,000; an increase of 21.2 percent from last year.

SINGLE-FAMILY HOMES IN SPARKS New Listings

Total Sold

June, 2022

June, 2022

Median Sold Price

118

226

$551,000 June, 2022

MEDIAN SALES PRICE $600,000

2022

2021

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

Jan.

Feb.

Mar.

Apr.

May

Jun.

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, Q2

SPARKS Q1, 2022 v. Q2, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

Q1, 2022 443 394 $550,000 $531,899 5 175

Q2, 2022 686 420 $589,950 $557,660 7 482

% Change 54.90% 6.60% 7.30% 4.80% 40.00% 175.40%

Q2, 2021 v. Q2, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

Q2, 2021 558 514 $479,950 $465,000 5 198

Q2, 2022 686 420 $589,950 $557,660 7 482

% Change 22.90% -18.30% 22.90% 19.90% 40.00% 143.40%

2022, Q, 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 - 6/30/2022.

Data Provided by NNRMLS. @2022 Domus Analytics.

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Ferrari-Lund Real Estate, 2022, Q2

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