R E N O / S PA R K S Q1-2022 MARKET REPORT
Q1 2022
Ferrari-Lund Real Estate
CONTENTS • 3 • 4-5 • 6-7 • 8-9
ABOUT US RENO | SPARKS RENO SPARKS
Susan Hoog 775-772-3892 License No. S.27124 Susan.Hoog@icloud.com SusanHoog.Ferrari-Lund.com
2
Ferrari-Lund Real Estate, 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 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, Q1, Ferrari-Lund Real Estate
3
RENO/SPARKS COMBINED
Q1, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory
2021, Q1 1,507 1,245 $465,000 $461,500 6 301
2022, Q1 1,469 1,266 $584,900 $570,000 6 358
% Change -2.50% 1.70% 25.80% 23.50% 0.00% 18.90%
MEDIAN SALES PRICE, YEAR TO DATE, 2022 2021, Q1
2022, Q1
$600,000 $500,000 $400,000 $300,000 $200,000 $100,000 0
Jan.
Feb.
Mar.
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
4
Ferrari-Lund Real Estate, 2022, Q1
RENO/SPARKS COMBINED
Q1, 2022 v. Q4, 2021 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory
2022, Q1 1,469 1,266 $584,900 $570,000 6 358
2021, Q4 1,303 1,638 $549,950 $540,000 11 354
% Change 12.70% -22.70% 6.40% 5.60% -45.50% 1.10%
ACTIVE INVENTORY 350 300
-23.40%
250 200 150 100
2021, Q1
50 0
Jan.
Feb.
2022, Q1
Mar.
CASH SALES IN RENO/SPARKS COMBINED
292 Total Cash Sales 2022, Q1
22.95% Percent of All Sales 2022, Q1
-10.14% Cash Sales over Last Year
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
2022, Q1, Ferrari-Lund Real Estate
5
R e n o M a r k e t S u mm a ry Reno (including North Valleys) March 2022, had 335 sales of existing single-family homes; an increase of 9.8 percent from last year and an increase of 27.4 percent from February 2022. The median sales price in Reno for an existing single-family residence in March 2022 was $600,000; a 3.4 percent increase from the previous month and an increase of 17.9 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 March 2022 in Reno was $306,250; a increase of 22 percent from the prior year.
CASH SALES IN RENO
220
24.94%
-3.96%
Percent of All Sales 2022, Q1
Total Cash Sales 2022, Q1
Cash Sales over Last Year
MEDIAN SALES PRICE 2021, Q1
2022, Q1
$600,000 $500,000 $400,000 $300,000 $200,000 $100,000 0
Jan.
Feb.
Mar.
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
6
Ferrari-Lund Real Estate, 2022, Q1
RENO Q4, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory
2021, Q4 882 1,131 $575,000 $559,900 12 262
2022, Q1 1,028 877 $599,950 $590,000 6 286
% Change 16.60% -22.50% 4.30% 5.40% -50.00% 9.20%
Q1, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory
2021, Q1 1,033 847 $480,000 $485,000 6 231
2022, Q1 1,028 877 $599,950 $590,000 6 286
% Change -0.50% 3.50% 25.00% 21.60% 0.00% 23.80%
2022, Q1, Ferrari-Lund Real Estate
7
S pa r k s M a r k e t S u mm a ry Sparks (including Spanish Springs) Sparks had 153 sales of existing single-family homes in March 2022; an decrease of 10 percent from last year and a 35.4 percent increase from the previous month. The Sparks median sales price for an existing singlefamily residence in March 2022 was $550,000; an increase of 23.1 percent from last year and an increase of 7.8 percent from February 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 March 2022 in Sparks was $297,500; an increase of 24.5 percent from last year.
CASH SALES IN SPARKS
72
18.41%
-25.22%
Percent of All Sales 2022, Q1
Total Cash Sales 2022, Q1
Cash Sales over Last Year
MEDIAN SALES PRICE 2021, Q1
$600,000
2022, Q1
$500,000 $400,000 $300,000 $200,000 $100,000 0
Jan.
Feb.
Mar.
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2022 DOMUS ANALYTICS.
8
Ferrari-Lund Real Estate, 2022, Q1
8
SPARKS Q4, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory
2021, Q4 421 507 $524,950 $505,000 10 92
2022, Q1 441 389 $550,000 $533,000 5 72
% Change 4.80% -23.30% 4.80% 5.50% -50.00% -21.70%
Q1, 2021 v. Q1, 2022 Market Summary New Listings Sold Listings Median List Price Median Sold Price Days to Contract Active Inventory
2021, Q1 474 398 $440,000 $428,962 6 70
2022, Q1 441 389 $550,000 $533,000 5 72
% Change -7.00% -2.30% 25.00% 24.30% -16.70% 2.90%
2022, Q1, Ferrari-Lund Real Estate
9
All reports are based on single family homes in the Reno & Sparks area(s). Dates between 1/1/2021 - 3/31/2022. Data Provided by NNRMLS. @2022 Domus Analytics.
10
Ferrari-Lund Real Estate, 2022, Q1
2022, Q1, Ferrari-Lund Real Estate 11
DAMONTE OFFICE
SPARKS OFFICE
LAKESIDE OFFICE
500 Damonte Ranch Pkwy.
4990 Vista Blvd.
3700 Lakeside Drive
Suite 804
Sparks, NV 89436
Suite 100
Reno, NV 89521
775-685-7788
Reno, NV 89509
775-850-7033
775-688-4000
WWW.FERRARI-LUND.COM
