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from Ferrari-Lund Real Estate Reno/Sparks Quarterly Market Report, Q2-2023 - Valeri Fye

Ferrari-Lund is celebrating 35 years of business. We want to share with you our First Quarterly Report of 2023.

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

At Ferrari-Lund, we use a unique combination of industry-leading 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 investing, we are here for all your real estate needs. Our goal remains to provide you with a rewarding experience that is aligned with your specific goals, finances, and situation.

We hope you find this market information valuable

MEDIAN SALES PRICE, YEAR TO DATE, 2023

REPORTSAREBASEDONSINGLEFAMILYHOMESINTHERENO&SPARKSAREA.DATAPROVIDEDBYSNR@2023DOMUSANALYTICSASOFTHE7THOFAPRIL2023.

75%

-17.44%

REPORTSAREBASEDONSINGLEFAMILYHOMESINTHERENO&SPARKSAREA.DATAPROVIDEDBYSNR@2023DOMUSANALYTICSASOFTHE7THOFAPRIL2023.

June 2023, Reno (including North Valleys) had 320 closed sales of existing single family homes; a decrease of 3.6 percent from last year and a 19 percent increase from May 2023.

The median sales price in Reno for an existing single-family residence in June 2023 was $622,000; an increase of 9.1 percent from last month and a decrease of 2 percent from 2022. 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 2023 in Reno was $332,500; an decrease of 3.9 percent from the prior year.

SINGLE-FAMILY HOMES IN RENO

Median Sales Price

Sparks (including Spanish Springs) had 118 closed sales of existing single-family homes in June 2023; a decrease of 1.7 percent from last year and an decrease of 19.2 percent from the previous month.

The Sparks median sales price for an existing single-family residence in June 2023 was $532,000; a decrease of 2.4 percent from last year and an increase of 0.9 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 June 2023 in Sparks was $397,495; a increase of 27 percent from last year.