R E N O / S PA R K S Q U A R T E R LY MARKET REPORT
Q1 2021
Ferrari-Lund Real Estate
CONTENTS • 3
ABOUT US
• 4-5
RENO | SPARKS
• 6-7 • 8-9
RENO SPARKS
Candi Peek 775-742-4796 NV Lic. #S.36179 Candisellshouses.com Candi@Candisellshouses.com
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.
2
Ferrari-Lund Real Estate, 2021, 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.
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.
2020, Q1, Ferrari-Lund Real Estate
3
RENO/SPARKS COMBINED
2021, Q1 Market Summary New Lisitngs Sold Lisings Median List Price Median Sold Price Days to Contract Active Inventory
Jan, 2021 383 377 $440,000 $449,900 26 248
Mar, 2021 592 459 $480,000 $485,000 18 226
Feb, 2021 457 384 $465,000 $450,000 23 284
MEDIAN SALES PRICE Q1, 2021 2020
$500,000 $400,000
2021
$449,900 $405,000
$485,000 $450,000
$392,500
$415,000
$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. @2021 DOMUS ANALYTICS.
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Ferrari-Lund Real Estate, 2021, Q1
RENO/SPARKS COMBINED
2020, Q1 v. 2021, Q1 Market Summary New Lisitngs Sold Lisings Median List Price Median Sold Price Days to Contract Active Inventory
2020, Q1 1,659 1,372 $425,000 $403,402 51 1,478
% Change -13.70% -11.10% 9.40% 15.10% -57.60% -59.10%
2021, Q1 1,432 1,220 $465,000 $464,500 22 604
ACTIVE INVENTORY 1000 800
-59.10%
600 400
2020, Q1
200 0
Jan.
Feb.
AVERAGE DAYS TO CONTRACT
-57.6% Q1,2020 51
Q1, 2021 22
2021, Q1
Mar.
NUMBER OF HOMES SOLD
-11.1%
Q1, 2020 1,372 Q1, 2021 1,220
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.
2020, Q1, Ferrari-Lund Real Estate
5
R e n o M a r k e t S u mm a ry March 2021, Reno (including North Valleys) had 293 sales of existing single-family homes; a decrease of 21 percent from last year and an increase of 11 percent from February 2021. The median sales price in Reno for an existing single-family residence in March 2021 was $515,000; a 10.8 percent increase from the previous month and an increase of 19.8 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 March 2021 in Reno was $247,450; a decrease of 2.5 percent from the prior year.
SINGLE FAMILY HOMES IN RENO
24
837
973
New Listings 2021, Q1
Total Sold 2021, Q1
Days on Market 2021, Q1
MEDIAN SALES PRICE $600,000 $500,000
2021
2020
$515,000 $471,500 $430,000
$400,000
$465,000 $406,000
$430,000
$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. @2021 DOMUS ANALYTICS.
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Ferrari-Lund Real Estate, 2021, Q1
RENO Q1, 2021 Market Summary New Lisitngs Sold Lisings Median Listing Price Median Selling Price Days to Contract Active Inventory
Jan, 2021 239 274 $460,000 $471,500 29 193
Feb, 2021 316 264 $475,000 $465,000 28 218
Mar, 2021 418 293 $500,000 $515,00 19 175
2020, Q1 v. 2021, Q1 Market Summary New Lisitngs Sold Lisings Median Listing Price Median Selling Price Days to Contract Active Inventory
2020, Q1 1,159 951 $445,000 $420,000 54 1,053
2021, Q1 973 837 $479,900 $489,000 24 454
% Change -16.00% -12.60% 7.80% 16.40% -55.30% -56.90%
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.
2020, Q1, 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 166 sales of existing single-family homes in March 2021; an increase of 12.9 percent from last year and a 38.3 percent increase from the previous month. The Sparks median sales price for an existing single-family residence in March 2021 was $446,718; an increase of 14.8 percent from last year and an increase of 7 percent from February 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 2021 in Sparks was $239,000; an increase of 3.9 percent from last year.
SINGLE FAMILY HOMES IN SPARKS
16
389
459
New Listings 2021, Q1
Total Sold 2021, Q1
Days on Market 2021, Q1
MEDIAN SALES PRICE 2021
2020
$500,000 $417,995
$400,000
$370,000
$417,450 $370,500
$446,718 $389,000
$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. @2021 DOMUS ANALYTICS.
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Ferrari-Lund Real Estate, 2021, Q1
SPARKS Q1, 2021 Market Summary New Lisitngs Sold Lisings Median Listing Price Median Selling Price Days to Contract Active Inventory
Jan, 2021 144 103 $421,450 $417,995 22 55
Feb, 2021 141 120 $435,000 $417,450 10 66
Mar, 2021 174 166 $445,000 $446,718 15 51
2020, Q1 v. 2021, Q1 Market Summary New Lisitngs Sold Lisings Median Listing Price Median Selling Price Days to Contract Active Inventory
2020, Q1 500 421 $397,250 $377,337 44 425
2021, Q1 459 389 $435,000 $428,000 16 150
% Change -8.20% -7.60% 9.50% 13.40% -63.10% -64.70%
Reports are based on single family homes in the Reno & Sparks area(s) | DATA PROVIDED BY NNRMLS. @2021 DOMUS ANALYTICS.
2020, Q1, 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
Direct: 775-685-7788
775-688-4000
WWW.FERRARI-LUND.COM