Ferrari-Lund Real Estate Reno/Sparks Quarterly Market Report, Q3-2022 - Ken and Alicia Lund

Page 1

RENO/SPARKS

2022

REPORT

Q3, 2022
Ferrari-Lund Real
Estate
Q3,
MARKET
Ferrari-Lund Real Estate, 2022, Q32 CONTENTS • 3 ABOUT US • 4-5 RENO | SPARKS • 6-7 RENO • 8-9 SPARKS Ken and Alicia Lund 775-745-6425 KenLund@Ferrari-Lund.com RenoLund.com KenandAliciaLund.com Lic. No.BS.0144762.LLC

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.

2022, Q3, Ferrari-Lund Real Estate 3
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 eno M onthly M a R ket S u MM a R y

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.

SINGLE-FAMILY HOMES IN RENO

SALES PRICE

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.
0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 Sep.Aug.Jul.Jun.May.Apr.Mar.Feb.Jan.
MEDIAN
2021 2022 1,271 312 $540,000 September, 2022 Median Sold PriceTotal SoldNew Listings September, 2022 September, 2022

Market Summary

RENO

% Change -24.9%

Median

Market Summary

Change

2022, Q3, Ferrari-Lund Real Estate 7
New Listings Sold Listings
List Price Median Sold Price Days to Contract Active Inventory Q2, 2022 1,693 1,051 $650,000 $630,000 8 1,294
-11.7% -3.8% -8.7% 300% 24.9% Q3, 2022 1,271 928 $625,000 $575,000 32 1,616
New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory Q3, 2021 1,517 1,248 $585,000 $550,000 7 904 %
-16.2% -25.6% 6.8% 4.5% 357.1% 78.8% Q3, 2022 1,271 928 $625,000 $575,000 32 1,616 Q2, 2022 v. Q3, 2022 Q3, 2021 v. Q3, 2022

S pa R k S M onthly M a R ket S u MM a R y

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.

SINGLE-FAMILY HOMES IN SPARKS

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.
0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 Sep.Aug.Jul.Jun.MayApr.Mar.Feb.Jan. 2021 2022
167 149 $515,000 MEDIAN SALES PRICE Median Sold PriceTotal SoldNew Listings September, 2022 September, 2022 September, 2022

SPARKS

Market Summary

% Change

Market Summary

2022, Q3, Ferrari-Lund Real Estate 9
Q2, 2022 v. Q3, 2022 Q3, 2021 v. Q3, 2022
New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory Q3, 2021 678 554 $524,900 $500,500 6 321 % Change -13.7% -25.3% 6.7% 5.4% 391.7% 111.5% Q3, 2022 585 414 $560,000 $527,500 30 679
New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory Q2, 2022 689 425 $589,900 $555,320 7 496
-15.1% -2.6% -5.1% -5.0% 321.4% 36.9% Q3, 2022 585 414 $560,000 $527,500 30 679

All

are

on

Provided

Ferrari-Lund Real Estate, 2022, Q310
reports
based
single family homes in the Reno & Sparks area(s). Dates between 1/1/2021 - 9/30/2022. Data
by NNRMLS. @2022 Domus Analytics.
2022, Q3, Ferrari-Lund Real Estate 11

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