LUXURY 2021/22
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About Us
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Median Sales Price & Price per Sq. Ft.
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Sales vs. List Price & Cash vs. Loan
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Market Summary
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2021 Luxury Real Estate Market Report
Number of Properties Sold
www.ferrari-lund.com
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Who’s Who in Luxury Real Estate A worldwide collection of top brokers representing the finest luxury properties across the globe. Who’s Who in Luxury Real Estate has been leading the real estate industry since 1986. This hand-selected group of more than 130,000 professionals with properties in more than 70 countries collectively sells over $300 billion of real estate annually, making it the most elite and comprehensive luxury real estate network in the world.
Karen Falcocchia 775-287-8249 KATE@FERRARI-LUND.COM LIC. NO. BROKERSALES #0146224
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Luxury Real Estate Market Report 2021 & 2022, Q1
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; 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 Information valuable and look forward to assisting you with all of your real estate needs.
www.ferrari-lund.com
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Median Sold Price SINGLE FAMILY HOMES IN RENO/SPARKS HOMES SOLD OVER $1,000,000 Annual Median Sold Price 2018 -- $1,275,000 Annual Median Sold Price 2019 -- $1,344,168 Annual Median Sold Price 2020 -- $1,327,183 Annual Median Sold Price 2021 --$1,375,000 Median Sold Price Q1, 2022 -- $1,325,000
$1,400,000 $1,320,000 $1,240,000 $1,160,000 $1,080,000 $1,000,000
2018
2019
2020
2021
Q1, 2022
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
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Luxury Real Estate Market Report 2021 & 2022, Q1
Price Per Square Foot SINGLE FAMILY HOMES IN RENO/SPARKS HOMES SOLD OVER $1,000,000
The below graph indicates the average price per square foot over the past 4 years, including the first quarter of 2022.
$500 $391
$400 $300
$313
$329
$336
2018
2019
2020
$410
$200 $100 0
2021
Q1, 2022
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
www.ferrari-lund.com
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Number of Homes Sold RENO/SPARKS HOMES OVER $1,000,000 The below graph indicates the number of homes sold over the past 4 years, including the first quarter of 2022.
597
600 500 400 300 200
335 219
228
2018
2019
137
100 0
2020
2021
Q1, 2022
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
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Luxury Real Estate Market Report 2021 & 2022, Q1
Price Allocation NUMBER OF HOMES SOLD OVER $1,000,000
400 350 300 250 200 150 100 50 0
353 244
YEAR OVER YEAR
212
124
2020
2021
78.2% Increase $1M to $1.49M
Q1, 2021 v. Q1, 2022
>$1.5M
100 80 60
Q1,2021
Q1,2022
41.2% Increase
88 52
45
49
40 20 0
$1M to $1.49M
>$1.5M
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
www.ferrari-lund.com
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Sold Price vs. List Price SINGLE FAMILY HOMES IN RENO/SPARKS HOMES SOLD OVER $1,000,000
List Price
Sold Price
$1.5 M $1,445,000
$1.4 M
$1,395,000
$1,400,000
$1,400,000
$1,399,000
$1,375,000 $1,344,170
$1.3 M
$1,325,000
$1,327,180
$1,275,000
$1.2 M
2018
2019
2020
2021
Q1, 2022
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
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Luxury Real Estate Market Report 2021 & 2022, Q1
Cash Sales vs. Loan Sales SINGLE FAMILY HOMES IN RENO/SPARKS HOMES SOLD OVER $1,000,000
2018
Total 219 51.1% - Cash
Cash 112
Cash 104
107 Financed
Cash 51
2020
Total 335 50.7% - Cash
124 Financed
2019
Total 228 45.6% - Cash
86 Financed
Q1,2022 Cash 170
165 Financed
Total 137 37.2% - Cash
Cash 253
344 Financed
2021
Total 597 42.4% - Cash
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
www.ferrari-lund.com
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Homes over $1,000,000 SINGLE FAMILY HOMES IN RENO/SPARKS
Market Summary New Lisitngs Sold Lisings Median List Price Median SoldPrice Days to Contract Active Inventory
Q1, 2021 117 97 $1,499,999 $1,450,000 11 116
179
New Listings 2022, Q1
Q1, 2022 179 137 $1,400,000 $1,325,000 16 157
137
Total Sold 2022, Q1
% Change 53.0% 41.20% -6.70% -8.60% 45.50% 35.30%
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Days to Contract 2022, Q1
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
12 Luxury Real Estate Market Report 2021 & 2022, Q1
Homes over $1,000,000 SINGLE FAMILY HOMES IN RENO/SPARKS
Market Summary New Lisitngs Sold Lisings Median List Price Median Sold Price Days to Contract Active Inventory
723
New Listings 2021
2020 439 335 $1,399,000 $1,327,183 32 380
2021 723 597 $1,445,000 $1,375,000 14 470
597
Total Sold 2021
% Change 64.60% 78.20% 3.20% 3.60% -56.20% 23.70%
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Days To Contract 2021
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
www.ferrari-lund.com
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All reports are based on single family homes in the Reno & Sparks area(s) value above $1,000,000. Dates between 1/1/2021 - 3/31/2022. Data Provided by NNRMLS. @2022 Domus Analytics.
14Luxury Real Estate Market Report 2021 & 2022, Q1
www.ferrari-lund.com
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16Luxury Real Estate Market Report 2022, Q1
