Ferrari-Lund Real Estate Reno/Sparks Quarterly Market Report, Q2-2021

R E N O / S PA R K S 2ND QUARTER MARKET REPORT

Q2 2021

Ferrari-Lund Real Estate

CONTENTS • 3

ABOUT US

• 4-5

RENO | SPARKS

• 6-7 • 8-9

RENO SPARKS

Ferrari-Lund Real Estate 775-688-4000 www.Ferrari-Lund.com NV Lic. #B.18862.CORP

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2021, Q2

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.

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

2021, Q2, Ferrari-Lund Real Estate

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RENO/SPARKS COMBINED

Q1 v. Q2 - 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q1 1,470 1,234 $465,000 $464,000 22 285

% Change 28.50% 42.30% 12.90% 9.90% -8.30% 9.47%

2021, Q2 1,889 1,756 $525,000 $510,000 20 312

MEDIAN SALES PRICE Q1, 2021 2020

$600,000

2021

$500,000 $400,000 $300,000 $200,000 $100,000 0

Jan.

Feb.

Mar.

Apr.

May

Jun.

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2021, Q2

RENO/SPARKS COMBINED

Q2, 2020 v. Q2, 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2020, Q2 1,888 1,361 $440,000 $407,000 37 829

% Change 0.10% 29.00% 19.30% 25.30% -46.60% -62.36%

2021, Q2 1,889 1,756 $525,000 $510,000 20 312

ACTIVE INVENTORY 1000 800

-53.0%

600 400

2020, Q2

200 0

Jan.

Feb.

Mar.

Apr.

AVERAGE DAYS TO CONTRACT

-46.6%

Q2, 2020 37

Q2, 2021 20

May

2021, Q2

Jun.

NUMBER OF HOMES SOLD

29.0%

Q2, 2020 1,361 Q2, 2021 1,756

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

2021, Q2, Ferrari-Lund Real Estate

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R e n o M a r k e t S u mm a ry June 2021, Reno (including North Valleys) had 459 sales of existing single-family homes: an increase of 20.8 percent from last year and an increase of 24.7 percent from May 2021. The median sales price in Reno for an existing single-family residence in June 2021 was $550,000; no change from the previous month and an increase of 32.5 percent from 2020.

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 2021 in Reno was $278,000; an increase of 5.9 percent from the prior year.

SINGLE FAMILY HOMES IN RENO

18

1,249

1,344

New Listings 2021, Q2

Total Sold 2021, Q2

Days on Market 2021, Q2

MEDIAN SALES PRICE $600,000

2020

2021

$500,000 $400,000 $300,000 $200,000 $100,000 0

Jan.

Feb.

Mar.

Apr.

May

Jun.

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2021, Q2

RENO Q1 v. Q2 - 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q1 1,002 842 $480,000 $485,000 24 219

2021, Q2 1,344 1,249 $550,000 $535,000 18 245

% Change 34.10% 48.30% 14.60% 10.30% -23.60% 11.87%

Q2, 2020 v. Q2, 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2020, Q2 1,310 929 $464,950 $420,000 39 622

2021, Q2 1,344 1,249 $550,000 $535,000 18 245

% Change 2.60% 34.40% 18.30% 27.40% -52.90% -60.61%

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

2021, Q2, Ferrari-Lund Real Estate

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S pa r k s M a r k e t S u mm a ry Sparks (including Spanish Springs) had 174 sales of existing single-family homes in June 2021: a decrease of 5.9 percent from last year and a 1.2 percent increase from the previous month. The Sparks median sales price for an existing singlefamily residence in June 2021 was $481,750; an increase of 22 percent from last year and an increase of 6.1 percent from May 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 June 2021 in Sparks was $260,000; an increase of 28.1 percent from last year.

SINGLE FAMILY HOMES IN SPARKS

507

545

New Listings 2021, Q2

24

Total Sold 2021, Q2

Days on Market 2021, Q2

MEDIAN SALES PRICE 2020

$500,000

2021

$400,000 $300,000 $200,000 $100,000 0

Jan.

Feb.

Mar.

Apr.

May

Jun.

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

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Ferrari-Lund Real Estate, 2021, Q2

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SPARKS Q1 v. Q2 - 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2021, Q1 468 392 $437,450 $428,350 17 78

% Change 16.50% 29.30% 9.50% 8.60% 39.90% -14.10%

2021, Q2 545 507 $479,000 $465,000 24 67

Q2, 2020 v. Q2, 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory

2020, Q2 578 432 $415,000 $389,581 34 207

2021, Q2 545 507 $479,000 $465,000 24 67

% Change -5.70% 17.40% 15.40% 19.40% -30.40% -77.29%

Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.

2021, Q2, Ferrari-Lund Real Estate

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DAMONTE OFFICE

SPARKS OFFICE

LAKESIDE OFFICE

500 Damonte Ranch Pkwy.

4990 Vista Blvd.

3700 Lakeside Drive

Suite 804

Suite 100

Reno, NV 89521

Sparks, NV 89436

Reno, NV 89509

775-850-7033

775-685-7788

775-688-4000

WWW.FERRARI-LUND.COM