FERRARI-LUND REAL ESTATE

2022 YEAR END MARKET REPORT

Ferrari-Lund Real Estate

Established 1988

About Us

Ferrari-Lund Real Estate is celebrating 35 years of business, and with that we wanted to share with you our Year End Market Report.

Serving our community with expertise, stability, and proven success in the industry has always been our top priority. We are proud to be a locally owned and operated brokerage that is consistently a top-producing firm in the Reno/Sparks area.

At Ferrari-Lund, we use a unique combination of industryleading resources, personalized support, the most innovative technology available, and high-level marketing resources for our clients. Coinciding with strong personalized client relationships and individually tailored solutions, our over 200 agents close deals that leave you with peace of mind and positive outcomes.

Whether you are buying, selling, or an investor, we are here for all your real estate needs. Our goal remains to provide you with a rewarding and enjoyable experience that is aligned with your specific goals, finances, and situation.

We hope you find this market information valuable and look forward to assisting you with all of your real estate needs.

Median Sales Price Year End

Reno

December 2022 $570,000 $533,532 -6.4%

December 2021

D ecember 2022 m arket S ummary

In December 2022, Reno (including North Valleys) had 232 closed sales of existing singlefamily homes; a decrease of 37.1 percent from last year and a 1.3 percent decrease from November 2022.

The median sales price in Reno for an existing single-family residence in December 2022 was $533,532; a decrease of 5.9 percent from last month and a decrease of 6.4 percent from the prior year. 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 2022 in Reno was $314,500; a decrease of 2.8 percent from the prior year.

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

Median

December 2021

$514,000

December 2022

$495,000 -3.7%

D ecember 2022 m arket S ummary

Sparks (including Spanish Springs) had 105 closed sales of existing single-family homes in December 2022; a decrease of 31.4 percent from last year and a 9.5 percent decrease from November 2022.

The Sparks median sales price for an existing single-family residence in December 2022 was $495,000; a decrease than 3.7 percent from last year and a decrease of 2.9 percent from 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 December 2022 in Sparks was $275,000; a decrease of 4.2 percent from last year.