Q3, 2022 Ferrari-Lund Real Estate RENO/SPARKS Q3, 2022 MARKET REPORT
Ferrari-Lund Real Estate, 2022, Q32 CONTENTS • 3 ABOUT US • 4-5 RENO | SPARKS • 6-7 RENO • 8-9 SPARKS Amber Cerfoglio 775-843-9872 License No. S.59046 acerfoglio@gmail.com ambercerfoglio.ferrari-lund.com
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.
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Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory Q3, 2021 2,195 1,802 $550,000 $530,000 7 1,225 % Change -15.4% -25.5% 8.9% 5.3% 357.1% 87.3% Q3, 2022 1,856 1,342 $599,000 $557,950 32 2,295 Ferrari-Lund Real Estate, 2022, Q34 Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS. 0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 Sep.Aug.Jul.Jun.MayApr.Mar.Feb.Jan. MEDIAN SALES PRICE, YEAR TO DATE, 2022 Q3, 2021 v. Q3, 2022 RENO/SPARKS COMBINED 2021 2022
2022, Q3, Ferrari-Lund Real Estate 5 Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS. Q2, 2022 v. Q3, 2022 87.3% Q3, 2022 32 Q3, 2022 32 Q2,2022 8 Q2,2022 8 Q3, 2022 1,342 Q3, 2022 1,342Q2, 2022 1,476 Q2, 2022 1,476 AVERAGE DAYS TO CONTRACT NUMBER OF HOMES SOLD 300.0% -9.1% 0 300 600 900 1,200 1,500 Sep.Aug.Jul.Jun.May.Apr.Mar.Feb.Jan. ACTIVE INVENTORY 2021 2022 RENO/SPARKS COMBINED Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory Q2, 2022 2,382 1,476 $630,000 $604,500 8 1,790 % Change -22.1% -9.1% -4.9% -7.7% 300.0% 28.2% Q3, 2022 1,856 1,342 $599,000 $557,950 32 2,295
R
September 2022, Reno (including North Valleys) had 312 closed sales of existing singlefamily homes; a decrease of 24.8 percent from last year and a 1 percent decrease from August 2022.
The median sales price in Reno for an existing single-family residence in September 2022 was $540,000; a decrease of 9.3 percent from last month and a decrease of 1.8 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 September 2022 in Reno was $360,000; an increase of 24.1 percent from the prior year.
Ferrari-Lund Real Estate, 2022, Q36 Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
eno M onthly M a R ket S u MM a R y 0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 Sep.Aug.Jul.Jun.May.Apr.Mar.Feb.Jan. SINGLE-FAMILY HOMES IN RENO MEDIAN SALES PRICE 2021 2022 1,271 312 $540,000 September, 2022 Median Sold PriceTotal SoldNew Listings September, 2022 September, 2022
Market Summary
New Listings
Listings
List Price
Sold Price
to Contract
RENO
Q2, 2022 v. Q3, 2022
Q2, 2022
Q3, 2022 1,271
Market Summary
New Listings
Listings
List
Sold Price
Q3, 2021 v. Q3, 2022
2021
1,616
Q3, 2022 1,271
Change -24.9% -11.7% -3.8% -8.7% 300% 24.9%
1,616
Change -16.2% -25.6% 6.8% 4.5% 357.1% 78.8%
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Sold
Median
Median
Days
Active Inventory
1,693 1,051 $650,000 $630,000 8 1,294 %
928 $625,000 $575,000 32
Sold
Median
Price Median
Days to Contract Active Inventory Q3,
1,517 1,248 $585,000 $550,000 7 904 %
928 $625,000 $575,000 32
Sparks (including Spanish Springs) had 149 closed sales of existing single-family homes in September 2022; a decrease of 17.7 percent from last year and an increase of 8 percent from the previous month.
The Sparks median sales price for an existing single-family residence in September 2022 was $515,000; an increase of 2 percent from last year and a decrease of 2.1 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 September 2022 in Sparks was $285,000; an increase of 4.6 percent from last year.
Ferrari-Lund Real Estate, 2022, Q38 Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
S pa R k S M onthly M a R ket S u MM a R y 0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 Sep.Aug.Jul.Jun.MayApr.Mar.Feb.Jan. 2021 2022 SINGLE-FAMILY HOMES IN SPARKS 167 149 $515,000 MEDIAN SALES PRICE Median Sold PriceTotal SoldNew Listings September, 2022 September, 2022 September, 2022
Market Summary
New Listings Sold Listings
Median List Price Median Sold Price Days to Contract Active Inventory
Market Summary
New Listings Sold Listings
Median List Price Median Sold Price Days to Contract Active Inventory
SPARKS
Q2, 2022 v. Q3, 2022
Q2, 2022 689 425 $589,900 $555,320 7 496
Q3, 2022 585 414 $560,000 $527,500 30 679
Q3, 2021 v. Q3, 2022
Q3, 2021 678 554 $524,900 $500,500 6 321
Q3, 2022 585 414 $560,000 $527,500 30 679
% Change -15.1% -2.6% -5.1% -5.0% 321.4% 36.9%
% Change -13.7% -25.3% 6.7% 5.4% 391.7% 111.5%
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Ferrari-Lund Real Estate, 2022, Q310 All reports are based on single family homes in the Reno & Sparks area(s). Dates between 1/1/2021 - 9/30/2022. Data Provided by NNRMLS. @2022 Domus Analytics.
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