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from Ferrari-Lund Real Estate Reno/Sparks Quarterly Market Report, Q2-2023 - Allyson Edington

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

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.