FERRARI-LUND REAL ESTATE
2022 YEAR END MARKET REPORT
Sidney Sinclair 775-229-3295 License No. S.186552 sidney@ferrari-lund.com sidneysinclair.ferrari-lund.com 2 Ferrari-Lund Real Estate, 2022 CONTENTS * 3 ABOUT US * 4-5 RENO | SPARKS * 6-7 RENO * 8-9 SPARKS * 10-11 SPANISH SPRINGS & SPARKS CORE * 12-13 NORTH VALLEYS & NORTHWEST * 14-15SOUTHEAST RENO & METRO SOUTHWEST * 16-17 WEST SUBURBAN & V.C. HIGHLANDS * 18-19 NEW SOUTHEAST & SUBURBAN SOUTHWEST
Ferrari-Lund Real Estate
Established 1988
ABOUT US
Ferrari-Lund Real Estate is celebrating 35 years of business, and with that we wanted to share with you our Year End Market Report.
Serving our community with expertise, stability, and proven success in the industry has always been our top priority. We are proud to be a locally owned and operated brokerage that is consistently a top-producing firm in the Reno/Sparks area.
At Ferrari-Lund, we use a unique combination of industryleading 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 an investor, we are here for all your real estate needs. Our goal remains to provide you with a rewarding and enjoyable experience that is aligned with your specific goals, finances, and situation.
We hope you find this market information valuable and look forward to assisting you with all of your real estate needs.
3 2022, Ferrari-Lund Real Estate
2021 2022 $545,000 -4.6% $519,950 MEDIAN SALES PRICE YEAR END 0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 December 2022 December 2021 $545,000 $519,950 Ferrari-Lund Real Estate, 2022 4 Reports are based on single family homes in the Reno & Sparks area(s). RENO/SPARKS December 2021 vs. December 2022
48.3% 2022 15 2022 15 2021 7 2021 7 2021 6,452 2021 6,452 2022 5,179 2022 5,179 2022, Ferrari-Lund Real Estate 5
AVERAGE DAYS TO CONTRACT NUMBER OF HOMES SOLD 2021 2022
ACTIVE INVENTORY MONTH TO MONTH 2021 2022 RENO/SPARKS 0 300 600 900 1200 1500 Dec. Nov. Oct. Sep. Aug. Jul. Jun. May. Apr. Mar. Feb. Jan.
DATA PROVIDED BY SNRMLS. @2023 DOMUS ANALYTICS
114.3% -19.7%
MEDIAN SALES PRICE YEAR END
RENO
December 2022 $570,000 $533,532 -6.4%
December 2021
D ecember 2022 m arket S ummary
In December 2022, Reno (including North Valleys) had 232 closed sales of existing singlefamily homes; a decrease of 37.1 percent from last year and a 1.3 percent decrease from November 2022.
The median sales price in Reno for an existing single-family residence in December 2022 was $533,532; a decrease of 5.9 percent from last month and a decrease of 6.4 percent from the prior year. 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 December 2022 in Reno was $314,500; a decrease of 2.8 percent from the prior year.
Reports are based on single family homes in the Reno & Sparks area(s).
Ferrari-Lund Real Estate, 2022 6
200 400 600 800 1000 1200 Dec. Nov. Oct. Sep. Aug. Jul. Jun. May. Apr. Mar. Feb. Jan. -19.5% 114.3% 45.3% RENO 2022 15 2022 15 2021 7 2021 7 AVERAGE DAYS TO CONTRACT NUMBER OF HOMES SOLD 2021 4,479 2021 4,479 2022 3,607 2022 3,607 2022, Ferrari-Lund Real Estate 7 DATA PROVIDED BY SNRMLS. @2023 DOMUS ANALYTICS 2021 2022 ACTIVE INVENTORY MONTH TO MONTH
MEDIAN
December 2021
$514,000
December 2022
$495,000 -3.7%
D ecember 2022 m arket S ummary
Sparks (including Spanish Springs) had 105 closed sales of existing single-family homes in December 2022; a decrease of 31.4 percent from last year and a 9.5 percent decrease from November 2022.
The Sparks median sales price for an existing single-family residence in December 2022 was $495,000; a decrease than 3.7 percent from last year and a decrease of 2.9 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 December 2022 in Sparks was $275,000; a decrease of 4.2 percent from last year.
SALES PRICE YEAR END
Ferrari-Lund Real Estate, 2022 8 Reports are based on single family homes in the Reno & Sparks area(s).
SPARKS
0 100 200 300 400 500 Dec. Nov. Oct. Sep. Aug. Jul. Jun. May. Apr. Mar. Feb. Jan. 2021 2022 -20.3% 133.3% AVERAGE DAYS TO CONTRACT NUMBER OF HOMES SOLD 2021 1,973 2021 1,973 2022 1,572 2022 1,572 2022 14 2022 14 2021 6 2021 6 56.5% SPARKS 2022, Ferrari-Lund Real Estate 9 DATA PROVIDED BY SNRMLS. @2023 DOMUS ANALYTICS ACTIVE INVENTORY MONTH TO MONTH
Ferrari-Lund Real Estate, 2022 10 Reports are based on single family homes in the Reno & Sparks area(s). SPANISH SPRINGS M edian S ale S P rice Y ear e nd 158.3% -15.8% SOLD 2021 6 2022 16 AVERAGE DAYS TO CONTRACT NUMBER OF HOMES SOLD 2021 1,252 2022 1,054 T hi S area include S , bu T i S noT li M i T ed To W ingfield S P ring S , K ile Y r anch , S Par KS S uburban and P alo M ino V alle Y . f or M ore de Tailed infor M aT ion on Your SP ecific neighborhood , P lea S e con Tac T Your f errari - l und agen T December 2021 December 2022 $559,500 $532,500 -4.8%
2022, Ferrari-Lund Real Estate 11 DATA PROVIDED BY SNRMLS. @2023 DOMUS ANALYTICS AVERAGE DAYS TO CONTRACT NUMBER OF HOMES SOLD MEDIAN SALES PRICE -6.1%
SOLD 66.7% 2021 6 2022 10 -28.2% 2021 721 2022 518 0 $100,000 $200,000 $300,000 $400,000 $500,000 December 2022 December 2021 $431,200 $405,000 T hi S area include S , bu T i S noT li M i T ed To o ld S Par KS / d o W n To W n , S Par KS - e a ST , and d ’a ndrea r anch f or M ore de Tailed infor M aT ion on Your SP ecific neighborhood , P lea S e con Tac T Your f errari - l und agen T
SPARKS CORE
Ferrari-Lund Real Estate, 2022 12 Reports are based on single family homes in the Reno & Sparks area(s). NORTH VALLEYS 2021 1,069 2021 1,069 2022 935 2022 935 133.3% AVERAGE DAYS TO CONTRACT -12.5% NUMBER OF HOMES SOLD 2022 14 2022 14 2021 6 2021 6 T hi S area include S , bu T i S noT li M i T ed To g olden V alle Y , l e MM on V alle Y , and S T ead f or M ore de Tailed infor M aT ion on Y our SP ecific neighborhood , P lea S e con Tac T Y our f errari - l und agen T M edian S ale S P rice Y ear e nd December 2021 December 2022 $445,888 $435,000 -2.4%
SOLD 2022, Ferrari-Lund Real Estate 13 DATA PROVIDED BY SNRMLS. @2023 DOMUS ANALYTICS NORTHWEST RENO Median SaleS Price December 2021 $506,250 December 2022 $434,875 NUMBER OF HOMES SOLD AVERAGE DAYS TO CONTRACT 2021 6 2022 12 2021 829 2022 592 -14.1% 100% -28.6% T hi S area include S , bu T i S noT li M i T ed To d o W n To W n c ore , o ld n or T h W e ST / u ni V er S i TY , and n or T h W e ST S uburban . f or M ore de Tailed infor M aT ion on Y our SP ecific neighborhood , P lea S e con Tac T Y our f errari - l und agen T
Ferrari-Lund Real Estate, 2022 14 Reports are based on single family homes in the Reno & Sparks area(s).
December 2021 December 2022 SOLD 108.3% AVERAGE DAYS TO CONTRACT NUMBER OF HOMES SOLD $440,000 $397,500 -9.7% MEDIAN SALES PRICE YEAR END 2021 6 2022 13 -22.4% 2021 317 2022 246 T hi S area include S , bu T i S noT li M i T ed To o ld S ou T hea ST , d onner S P ring S , and h idden V alle Y f or M ore de Tailed nfor M aT ion on Y our SP ecific neighborhood , P lea S e con Tac T Y our f errari - l und agen T 0 $100,000 $200,000 $300,000 $400,000 $500,000 December 2022 December 2021 $397,500 $440,000
SOUTHEAST RENO
2022, Ferrari-Lund Real Estate 15 DATA PROVIDED BY SNRMLS. @2023 DOMUS ANALYTICS REPORT December 2021 December 2022 Percent Change MEDIAN SALES PRICE $665,000 $700,000 5.3% 2021 2022 NUMBER OF HOMES SOLD 669 516 -22.9% AVERAGE DAYS TO CONTRACT 9 14 55.6% METRO SOUTHWEST T hi S area include S , bu T i S noT li M i T ed To o ld S ou T h W e ST , c aughlin r anch /J uni P er r idge , J uni P er h ill S , and l a K eridge f or M ore de Tailed infor M aT ion on Y our SP ecific neighborhood , P lea S e con Tac T Y our f errari - l und agen T
Ferrari-Lund Real Estate, 2022 16 Reports are based on single family homes in the Reno & Sparks area(s). WEST SUBURBAN 228.6% -9.6% SOLD 2021 7 2022 23 AVERAGE DAYS TO CONTRACT NUMBER OF HOMES SOLD 2021 311 2022 281 T hi S area include S , bu T i S noT li M i T ed To S o MM er S e TT , M ogul , and V erdi f or M ore de Tailed infor M aT ion on Y our SP ecific neighborhood , P lea S e con Tac T Y our f errari - l und agen T M edian S ale S P rice Y ear e nd December 2021 December 2022 $770,000 $650,000 -15.6%
2022, Ferrari-Lund Real Estate 17 DATA PROVIDED BY SNRMLS. @2023 DOMUS ANALYTICS V.C.
December 2021 $617,000 $714,420 15.8% MEDIAN SALES PRICE YEAR END December 2022 2021 77 2021 77 2022 91 2022 91 2022 26 2022 26 2021 15 2021 15 79.3% AVERAGE DAYS TO CONTRACT 18.2% NUMBER OF HOMES SOLD T hi S area include S , bu T i S noT li M i T ed To r eno f ooT hill S and V irginia c i TY h ighland S f or M ore de Tailed infor M aT ion on Y our SP ecific neighborhood , P lea S e con Tac T Y our f errari - l und agen T
HIGHLANDS
Ferrari-Lund Real Estate, 2022 18 Reports are based on single family homes in the Reno & Sparks area(s). NEW SOUTHEAST December 2022 $627,500 2.2% December 2021 2021 663 2021 663 2022 543 2022 543 NUMBER OF HOMES SOLD 18.1% 2022 16 2022 16 2021 6 2021 6 AVERAGE DAYS TO CONTRACT 166.7% MEDIAN SALES PRICE YEAR END T hi S area include S , bu T i S noT li M i T ed To S ou T h M eado WS , d ouble d ia M ond , d a M on T e r anch , and c ur T i r anch f or M ore de Tailed infor M aT ion on Y our SP ecific neighborhood , P lea S e con Tac T Y our f errari - l und agen T . $641,000
2022, Ferrari-Lund Real Estate 19 DATA PROVIDED BY SNRMLS. @2023 DOMUS ANALYTICS SUBURBAN SOUTHWEST December 2021 December 2022 $1,177,500 $1,200,000 1.9% Median Sales Price NUMBER OF HOMES SOLD AVERAGE DAYS TO CONTRACT 2021 9 2022 19 111.1% 2021 487 2022 362 -25.7% SINGLE FAMILY HOMES T hi S area include S , bu T i S noT li M i T ed To a rro W c ree K , S addlehorn , o ld S ou T h S uburban , g alena f ore ST , S T . J a M e S V illage , and M on T reux f or M ore de Tailed infor M aT ion on Y our SP ecific neighborhood , P lea S e con Tac T Y our f errari - l und agen T 0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 December 2022 December 2021
