Q4 2021 Market Trends - Reno/Sparks

Market Trends Year-End 2021 Market Report for the Reno/Sparks Region

For more information about the real estate market, or to search for homes, visit DicksonRealty.com.

PrICe MaP RRenO/SParks eno/SparksReGIOnaL R egional P rice M ap 4th Quarter 2021, as of December 31, 2021 4TH Quarter 2021, as of January 7, 2022 (Data source: NNRMLS) Data Source: Northern NV Regional MLS (NNRMLS)

SPANISH SPRINGS

SINGLE FAMILY

NORTH VALLEYS

SINGLE FAMILY

CONDO

Median Sales $$ Median Sales $$ Year to year change +26.1% Year to year change +4.8% Average Price/SF Average Price/SF

CONDO

Median Sales $$ Median Sales $$ Year to year change + Year to year change +11.9% Average Price/SF

Average Price/SF

NORTH URBAN

SINGLE FAMILY

CONDO

Median Sales $$ Median Sales $$ Year to year change +19.1 Year to year change +9.5% Average Price/SF Average Price/SF

SPARKS

SINGLE FAMILY

NEW NORTHWEST

SINGLE FAMILY

CONDO

CONDO

Median Sales $$ Year to year change

Median Sales $$ Year to year change

Average Price/SF

Average Price/SF

Median Sales $$ Median Sales $$ Year to year change + Year to year change +26.4% Average Price/SF Average Price/SF

OLD SOUTHWEST

SINGLE FAMILY

CONDO

Median Sales $$ Median Sales $$ Year to year change +8.9 Year to year change +5% Average Price/SF Average Price/SF

OLD SOUTHEAST

SINGLE FAMILY

CONDO

Median Sales $$ Median Sales $$ Year to year change Year to year change Average Price/SF

Average Price/SF

NEW SOUTHWEST SINGLE FAMILY

CONDO

Median Sales $ Median Sales $$ Year to year change +14.1% Year to year change Average Price/SF Average Price/SF

NEW SOUTHEAST

SINGLE FAMILY

CONDO

Median Sales $$ Median Sales $$ Year to year change +19.3 Year to year change Average Price/SF

Average Price/SF

Reno/Sparks Market Overview Continued demand from home buyers fueled price increases and standing inventory shortages througout the 2021 year. Here’s the latest information on the Reno/Sparks single-family home market.

As of January 3, 2022, there were 262 homes available for purchase, which is a decrease of about 33% from December 1, 2021.

Despite the decrease month-over-month, there was a year-over-year increase in standing inventory of 29% for the region. There are two main reasons for the low standing inventory; continued strong demand for new listings; and, we normally expect fewer homes on the market during the winter months of the year.

Months or Days of Inventory is typically how REALTORS® refer to the amount of time it would take to sell all existing homes for sale if no additional homes entered the market. For homes priced under $400,000, we have 3.5 days of standing inventory in Reno/Sparks, and for homes in the range of $400,000 to $700,000, inventory is about 11 days.

For inventory of homes priced in the mid to upper price ranges: We have 23.7 days of inventory in the $700,000 to $1,000,000 price range. Inventory in the $1,000,000 to $1,500,000 price range is 1.3 months. For homes priced over $1,500,000, we have a 2.3 month supply.

Sellers typically have a greater negotiation advantage when the supply of inventory is low. A five to six month supply of homes historically represents a balanced market, where neither buyers nor sellers have an advantage.

As of the end of December, we had 6,450 home sales for the 2021 year. That is a 2.7% decrease from the 6,632 sold in 2020. Breaking down the home sales this year, we see that: • 78.2% of sales were under $700,000 • 12.8% of sales were between 700,000 and $1,000,000 • 9% of sales were over $1,000,000 Low mortgage rates make this an excellent time to enter the market or move up to a home that better meets the needs of your lifestyle. A professional real estate agent with negotiation and market expertise is one of your best assets when buying or selling.

If you have any questions about this report or would like to take a deeper look into the market conditions of your neighborhood, please reach out. It would be a pleasure to assist you.

Source: NNRMLS Residential listings/sales, area 100

I’M LOCAL I’M GLOBAL

®

INDUSTRYLEADING SALES. WORLD-CLASS SERVICE.

MORE U.S. HOME SALES VOLUME

THAN ANY OTHER REAL ESTATE NETWORK, FRANCHISE OR BROKERAGE BRAND. $296 BILLION IN U.S. HOME SALES VOLUME. As an affiliate of Leading Real Estate Companies of the World,® Dickson Realty is a local and global market leader working on your behalf. LeadingRE’s world-class marketing resources and connections allow us to provide you with a truly exceptional real estate experience. ®

$296 Leading Real Estate Companies of the World

1.3 MILLION

$260

GLOBAL TRANSACTIONS

$207

550

$152

Leading Real Estate Companies of the World®

COMPANIES $110

4,600

Keller Williams

OFFICES

$97

150,000

$96

Compass

$72

Berkshire Hathaway HomeServices

SALES ASSOCIATES

70

Coldwell Banker

Sotheby’s International Realty

$37

COUNTRIES

RE/MAX eXp Realty

$29

Redfin

$29

Century 21 Douglas Elliman

$23

Homesmart

$20

Corcoran Better Homes and Gardens

$11

ERA $11 $0

$50

$100

$150

$200

Volume shown in billions of dollars.

This bar chart is sourced from REAL Trends 500 for 2020, realtrends.com.

© 2021 Leading Real Estate Companies of the World.® All Rights Reserved.

C–Sales Volume. 05.21

Equal Housing Opportunity.

$250

$300

Incline Village Market Snapshot (Data source: Incline Village REALTORS®)

Get Fit With The Best Home Gym Tech

It’s a new year, and working out from your home gym has never been easier. You can now receive customized personal training from world-renowned experts, attend a bootcamp class, and learn how to correct your form without having to leave the comfort of your home.

The pandemic-driven home-workout revolution created innovations in smart gym equipment that are now widely available. With more options to choose from, we’re here to help you decide which one is best for you and your 2022 fitness goals.

Ways To Improve Your Home Gym Based On Your Fitness Goals This Year Cardiovascular Health Dancing Cardio can often feel like a chore, and it’s not always easy to find the energy to workout after a long day. As an immersive, smart gym with a wide variety of classes, FORME can help motivate you to get your body moving again. Have stage fright? No problem. You can practice your dancing skills in front of your fury-four-legged friends at home by taking FORME hip-hop classes.

Bicycling If you love a little friendly competition and the camaraderie of studio cycling classes, then investing in a Peloton is

probably a smart move for your home gym in Reno and Sparks. But maybe you need help deciding whether or not you want to become a Peloton pack member. Well, did you know that you can order your bike, get it within two weeks, and have 24-hour access to professional-led classes without having to leave your home? Peloton also offers a commitment-free 30-day home trial.

That’s hard for anyone to resist.

Running If you’re looking to boost your cardiovascular health in 2022, then running is one of the best options. The American College of Sports Medicine recommends the average person practice some form of aerobic exercise for 30 minutes per day for at least five days per week. This recommendation can be hard to fit into a busy schedule, but with NordicTrack Treadmills, you’ll be on the right track in no time.

You can also immerse yourself in climbs, hikes, and runs across the globe with interactive iFIT-enabled equipment and technology.

Flexibility Pilates Not only can pilates boost your mood and reduce chronic back pain, but it can also improve your flexibility. ReformRX is the world’s first digitally connected pilates reformer designed to help you achieve a greater range of motion and improved balance with flexibility training. This intelligent reformer offers unlimited at-home training using HD 21.5-inch screens and SmartSpine sensors.

Yoga This interactive and nearly invisible home gym can help you look within and unfold your true self this year. Mirror is more than a room accessory, offering workout and beginner to expert yoga flow classes. So, whether you’re just starting your yoga practice or you’re an advanced yogi, there are classes for everyone to discover their inner warrior and improve their flexibility simultaneously.

High-Intensity Interval Training (HIIT) Boxing Are you getting bored with your workout routine and feel like you need to switch things up? Well, now you can by channeling your inner Rocky Balboa. FightCamp Personal, a personalized at-home boxing experience, provides effective High-Intensity Interval Training (HIIT) workouts designed to keep the body guessing and the heart pumping.

Rowing HIIT workouts can provide similar benefits to endurance training but in a shorter time. So, it’s no wonder why this training method has become one of the most popular forms of exercise. There are many ways to practice HIIT, but rowing is one of the best methods to get a full-body workout. With low-impact and motorized-resistance controls, the Echelon Rowing Machine can target more than 85 percent of muscles. You can even compete with friends and family with live and on-demand classes.

Stability Balance Boards Whether you want to improve your stability or build your core strength in 2022, the BoBo Core Trainer Balance Board can help you achieve both. This compact and portable device is perfect for all ages, equipped with an embedded motion sensor and an inflatable wobble cushion. You can also receive live bio-feedback through the BoBo app to view your balance-pattern analytics.

Resistance Training Looking to build, tone, and sculpt your body in the new year but need motivation or help figure out which program is right for you? Tonal can provide full-body strength assessments and automatically adjust the resistance based on your stats. Through a combination of artificial intelligence, cameras, and motion sensors, this muscle-building machine can help you become the best version of yourself.

Weight Lifting One of the best ways to gain muscle and build strength is to practice resistance training. But weight rooms can often be intimidating, and purchasing separate pieces of equipment can be expensive. That’s why investing in a smart home gym like Tempo Studio is a great option. It includes one 5-millimeter workout mat, four barbell collars, two 7.5 pound dumbbells, and 75 pounds of weight plates.

Not all exercises are suitable for everyone and these or any other exercise programs may result in injury. Please consult with your doctor or health care professional before beginning any exercise program.

DOWNTOWN RENO 775.324.7000 INCLINE VILLAGE 775.831.6600

CAUGHLIN RANCH 775.746.7000 LAS VEGAS 702.919-4156

DAMONTE RANCH 775.850.7000 TRUCKEE 530.587.7444

SOMERSETT 775.746.7222 PORTOLA 530.832.1700

MONTRÊUX 775.849.9444

SPARKS 775.685.8800

NORTHSTAR 530.562.1140

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© 2022 --- Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy. If your property is currently listed for sale, this is not intended to be a solicitation.