Ferrari-Lund Real Estate-Annual Market Report by Susan Hoog

CONTENTS

Susan Hoog 775-772-3892

License No. S.27124 Susan.Hoog@icloud.com SusanHoog.Ferrari-Lund.com

2

Ferrari-Lund Real Estate, 2020

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3

ABOUT US

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4-5

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6-7 RENO

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8-9

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10-11 SPANISH SPRINGS & SPARKS CORE

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12-13

NORTH VALLEYS & NORTHWEST

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14-15

SOUTHEAST RENO & METRO SOUTHWEST

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16-17 WEST SUBURBAN & V.C. HIGHLANDS

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18-19 NEW SOUTHEAST & SUBURBAN SOUTHWEST

RENO | SPARKS

SPARKS

Ferrari-Lund Real Estate Established 1988

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 Information valuable and look forward to assisting you with all of your real estate needs.

2020, Ferrari-Lund Real Estate

3

RENO/SPARKS

MEDIAN SALES PRICE YEAR END $394,000 2019

$449,600 14.1%

2020

500000 400000 300000 200000 100000 0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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

4

Ferrari-Lund Real Estate, 2020

RENO/SPARKS

2000

2019

2020

ACTIVE INVENTORY MONTH TO MONTH

1500 1000 500 0

Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. 2020

2019 AVERAGE DAYS TO CONTRACT

2019 51

2020 38

-25.5%

NUMBER OF HOMES SOLD

2019 6,279

2020 6,574

4.7% DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS 2020, Ferrari-Lund Real Estate

5

RENO

MEDIAN SALES PRICE YEAR END

2019

$405,000

2020

$500,000

500000 400000 300000

23.5%

200000 100000 0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

M a r k e t S u mm a ry In December 2020, Reno (including North Valleys) had 387 sales of existing single-family homes; an increase of 7.8 percent from last year and a decrease of 3 percent from November 2020.

The median sales price in Reno for an existing single family residence in December 2020 was $500,000; a 4.2 percent increase from the previous month and an increase of 23.5 percent from 2019. 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 December 2020 in Reno was $290,000; an increase of 22.4 percent from the prior year.

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

6

Ferrari-Lund Real Estate, 2020

RENO

2019

1200

ACTIVE INVENTORY MONTH TO MONTH

2020

1000 800 600 400 200 0

Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec.

AVERAGE DAYS TO CONTRACT

2019 53

2020 41

-22.6%

NUMBER OF HOMES SOLD

2019 4,389

2020 4,537

3.4% DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS 2020, Ferrari-Lund Real Estate

7

SPARKS

MEDIAN SALES PRICE YEAR END

2019

$367,000

2020

$405,000

500000 400000 300000

10.4%

200000 100000 0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

M a r k e t S u mm a ry Sparks (including Spanish Springs) had 151 sales of existing single-family homes in December 2020; a decrease of 4.4 percent from last year and a 11.2 percent decrease from the previous month.

The Sparks median sales price for an existing single-family residence in December 2020 was $405,000; an increase of 10.4 percent from last year and a decrease of 1.41 percent from November 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 December 2020 in Sparks was $225,000; an increase of 12.5 percent from last year.

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

8

Ferrari-Lund Real Estate, 2020

SPARKS

2019

500

2020

ACTIVE INVENTORY MONTH TO MONTH

400 300 200 100 0

Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. AVERAGE DAYS TO CONTRACT

2019 47

2020 32

-31.9%

NUMBER OF HOMES SOLD

2019 1,890

2020 2,037

7.8% DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS 2020, Ferrari-Lund Real Estate

9

SPA N I S H S P R ING S This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

P a lo m i n o V a l l e y . F o r

W i n g f i e l d S p r i n g s , K y l i e R a n c h , S pa r ks S u b u r b a n

and

m o r e d e ta i l e d i n f o r m at i o n o n yo u r sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

F e r r a r i -L u n d

ag e n t .

Median Sales Price SINGLE FAMILY HOMES YEAR END

2019

2020

$419,200

500000

$435,184

400000 300000

3.8%

200000 100000 0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

AVERAGE DAYS TO CONTRACT

NUMBER OF HOMES SOLD

2020 2019

32 47

SOLD

-31.9%

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

10

Ferrari-Lund Real Estate, 2020

2020 2019

1,352 1,178

14.8%

SPAR K S COR E This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

D’A n d r e a R a n c h . F o r

O l d S pa r ks /D o w n to w n , C e n t r a l S pa r ks ,

and

m o r e d e ta i l e d i n f o r m at i o n o n yo u r sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

F e r r a r i -L u n d

ag e n t .

MEDIAN SALES PRICE

AVERAGE DAYS TO CONTRACT

2020 2019

32 46

18.7%

400000

-30.4%

$353,000

350000 300000

$297,500

250000

NUMBER OF HOMES SOLD

SOLD

2020 2019

200000 150000

685 712

-3.8%

100000 50000 0

Year 2019

Year 2020

DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS 2020, Ferrari-Lund Real Estate 11

NORT H VA L L EYS This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

G o l d e n V a l l e y , N o rt h V a l l e y , L e mm o n V a l l e y ,

m o r e d e ta i l e d i n f o r m at i o n o n yo u r sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

and

Stead. For

F e r r a r i -L u n d

ag e n t .

Median Sales Price 2019

SINGLE FAMILY HOMES YEAR END 500000

2020

$298,000

$356,500

400000 300000 200000

19.6%

100000 0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

AVERAGE DAYS TO CONTRACT

2019 42

2020 32

NUMBER OF HOMES SOLD

2019 1,033

-23.8% Reports are based on single family homes in the Reno & Sparks area(s).

12

Ferrari-Lund Real Estate, 2020

2020 1,132

9.6%

NO RT H WEST R ENO This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

University,

and

D o w n to w n C o r e , O l d N o rt h w e st /

N o rt h w e st S u b u r b a n . F o r

m o r e d e ta i l e d i n f o r m at i o n o n yo u r

sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

F e r r a r i -L u n d

ag e n t .

Median Sales Price 2020 2019

$397,500 $359,950

10.4%

AVERAGE DAYS TO CONTRACT

2020 2019

29 46

-36.9%

NUMBER OF HOMES SOLD SOLD

2020 2019

683 781

-12.5%

DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS 2020, Ferrari-Lund Real Estate 13

SOUTHEAST R ENO This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

O l d S o u t h e a st , D o n n e r S p r i n g s ,

and

d e ta i l e d n f o r m at i o n o n yo u r sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

MEDIAN SALES PRICE

24.2%

Hidden Valley. For F e r r a r i -L u n d

ag e n t .

500000

400000

300000

2020

$410,000

200000

2019

$330,000

100000

0

AVERAGE DAYS TO CONTRACT

2020 2019

30 45

Year 2019

NUMBER OF HOMES SOLD

SOLD

-33.33% Reports are based on single family homes in the Reno & Sparks area(s).

14

Ferrari-Lund Real Estate, 2020

Year 2020

2020 2019

more

263 320

-17.8%

M E TR O S O U THW EST This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

Hills

and

Lakeridge. For

O l d S o u t h w e st , C au g h l i n R a n c h /J u n i p e r R i d g e , J u n i p e r

m o r e d e ta i l e d i n f o r m at i o n o n yo u r sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

F e r r a r i -L u n d

ag e n t .

REPORT

2019

2020

Percent Change

MEDIAN SALES PRICE

$551,000

$660,000

19.8%

NUMBER OF HOMES SOLD

629

704

11.9%

AVERAGE DAYS TO CONTRACT

53

54

1.9%

DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS 2020, Ferrari-Lund Real Estate 15

WEST S UBUR BA N This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

S o mm e r s e tt , M o g u l

and

Verdi. For

i n f o r m at i o n o n yo u r sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

m o r e d e ta i l e d

F e r r a r i -L u n d

ag e n t .

Median Sales Price SINGLE FAMILY HOMES YEAR END 800000 700000 600000 500000 400000 300000 18.5% 200000 100000 0

2019

2020

$527,498

$625,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

AVERAGE DAYS TO CONTRACT

NUMBER OF HOMES SOLD

2020 2019

51 66

SOLD

-22.7%

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

16

Ferrari-Lund Real Estate, 2020

2020 2019

383 396

-3.3%

V.C. HIGHLANDS This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

R e n o F o ot h i l l s

and

Virginia City Highlands. For

d e ta i l e d i n f o r m at i o n o n yo u r sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

$460,000 $600,000 2019

30.4%

S i n g l e F a m i ly H o m e s

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec NUMBER OF HOMES SOLD

AVERAGE DAYS TO CONTRACT

2019 66

2020 50

ag e n t .

MEDIAN SALES

2020

800000 700000 600000 500000 400000 300000 200000 100000 0

F e r r a r i -L u n d

more

-24.2%

2019 74

2020 81

9.5%

DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS 2020, Ferrari-Lund Real Estate 17

NE W SOU THEAST This

a r e a i n c lu d e s , b u t i s n ot l i m i t e d to

Damonte Ranch, Double Diamond

and

d e ta i l e d i n f o r m at i o n o n yo u r sp ec i f i c n e i g h b o r h o o d p l e a s e c o n tac t yo u r

AVERAGE DAYS TO CONTRACT

-47.5%

2019 61

2020 32

S o u t h M e a d o ws . F o r F e r r a r i -L u n d

ag e n t .

NUMBER OF HOMES SOLD

2019 661

2020 750

13.5%

MEDIAN SALES PRICE

$430,000 2019

$555,000 2020

600000 500000 400000 300000 200000 100000

29.1%

0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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

18

Ferrari-Lund Real Estate, 2020

more

SUBURBA N S O U T H W EST This

a r e a i n c lu d e s , b u t n ot l i m i t e d to

F o r e st /S t . J a m e s ,

and

Arrow Creek, Saddlehorn, Old South Suburban, Galena

Montreux. For

m o r e d e ta i l e d i n f o r m at i o n o n yo u r sp ec i f i c

n e i g h b o r h o o d p l e a s e c o n tac t yo u r

Median Sales Price

2019

ag e n t .

1200000

1000000

16.0% 2020

F e r r a r i -L u n d

800000

$1,002,500 $864,000

600000

400000

200000

0

Year 2019

Year 2020

AVERAGE DAYS TO CONTRACT

2020 2019

70 75

-6.7%

NUMBER OF HOMES SOLD

2020 2019

491 445

10.3%

SINGLE FAMILY HOMES DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS 2020, Ferrari-Lund Real Estate 19

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