Reno-Sparks Market Report November 14, 2022

November 2022 Market Report

** Data in the November 2022 Market Report reflect market activity from October 2022 compared to the previous month and year.  Information is gathered from the Reno-Sparks Association of Realtors® (RSAR) for the Greater Reno-Sparks region via Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).  Data accounts for single-family resale residences only, and excludes townhouses/condos, manufactured/modular and new construction.

  • The Median Sales Price (MSP) in Reno-Sparks combined ticked up 1.8% from $530,320 to $540,000 months-over-month. The MSP is exactly the same as October last year!

  • The Median Sales Price (MSP) in Reno and Sparks both inched up month-over-month, up 3.7% in Reno and up 0.5% in Sparks.

  • Closed Sales dropped 21.7% compared to September 2022 and are down 34.7% compared to October last year. 

  • The graph above illustrates the breakdown of Closed Sales by Price Point.

  • Median Sold Price per Square Foot also ticked up 1% to $304/SF, and is 1.3% lower compared to one year ago.

  •  The Months Supply of Inventory (MSI) is the number of months it would take to sell through the available inventory at the current rate of sales.  The MSI in October 2022 was 3.4 MSI, meaning that if the rate of sales continued at the same rate as it did in September, the entire housing inventory would be depleted in 3.4 months.  The MSI in October 2022 was 15.5% slower compared to September 2022 and is 212.6% slower than the same time last year.  Note; a “balanced market” is approximately 5-7 months supply.

  • Over the last few months, the Months Supply of Inventory in the luxury market has exceeded the threshold for a balanced market (see light blue range for Balanced Market), pushing the $1.5M+ properties into an official “Buyer’s Market.”

  • Median Days to Contract has remained fairly constant now at 36 days from listing to contract, a 323.5% increase year-over-year. While the market feels very slow compared to the rapid moving COVID-19 years (2020-2021) our Median Days to Contract are still WELL below the peaks of  2012, 2016, 2018, & 2019.

  • The side-by-side graphs above show the changes across all price points for the Median Days to Contract.  All homes priced under $1.5M were on the market less than 40 days

  • New Pending Sales dipped 2.4%% from September to October 2022.  There are also about 40% fewer New Pending Sales compared to last year.  Again, look back over the last several years to realize that our market is now for pending sales is behaving fairly normally.

  • 23% fewer New Listings hit the market in October 2022 compared to September 2022.  We also saw a 32% decline in New Listings compared to last year.

OTHER INTERESTING STATS TO KEEP AN EYE ON:

  • 22.6% of all sales in Reno-Sparks were cash transactions. The % of Cash Purchases increased 22.3% month-over-month for all single family sales in Reno-Sparks and are is relatively unchanged compared to October 2021. 

  • Sellers continue to show signs of frustration as homes have not been selling as quickly as they have over the last couple of years.  Consequently, they many have been pulling their homes from the market and/or allowing their listings to expire at the end of their listing period. We have seen a 185% increase in Unsold Listings compared to the same time last year.  

  • The number of Active Listings at the end of the month dropped 9.5% from September to October 2022.  The number of Active Listings at the end of the month is 104% higher than in October 2021 when inventory was near an all-time low.

  • 14% of all sales during October 2022 resulted in closing with prices above list price.  This stat is relatively unchanged compared to September 2022 and about 64% lower compared to October last year but is in line with normal activity compared to “pre-COVID” market conditions.

SUMMARY:

    • As we head into the winter months, Buyers and Sellers are contemplating moves in a real estate market riddled with the fear of God repeatedly thrown at them from the media with low-inventory in a high interest rate climate, price reductions, potential for further drops in prices… How are Buyers are Sellers to move forward with greater confidence in the coming months and years?
    • Compared to the last couple of years, the market is not as bleak as the media would have us believe.  Looking back at the charts over the last several years, the real estate market in Reno-Sparks NOW looks remarkably similar to past years’ activities and trends. 
    • Go back to basicsIt’s about supply and demand.  Inventory has NOT skyrocketed during this very interesting time, and Buyers are STILL making moves to pick up properties here, especially in markets priced under $1.5M. When priced competitively, homes on the market now in Reno-Sparks ARE SELLING.  
    • Sellers… The winter months are not necessarily a bad time to list your home.  Historically, Buyers and Sellers are more willing to get the deal done because the parties are highly motivated during this season.  During winter you’ll enjoy less competition from competing Sellers in your neighborhood.
    • Now more than ever, maintenance and proper preparation & staging are critical for successful sales.  So if you are waiting until spring to hit the market, take advantage of the winter months to get your house great shape.
    • And Buyers… You may likely have more negotiating power than during the last couple of years.  As mentioned in last month’s report, now is the time to exercise the option for Sellers to provide incentives that leverage your home-buying power and actually LOWER your monthly payment. Contact me today so I can explain how to accomplish this!

Do you need expert guidance for your next real estate purchase or sale?  I am here for you, whatever your real estate needs are.  Email me at dhallerbach@intero.com or reach by cell at 775-233-0682 so we can discuss the best plan for YOU!

~Denise Hallerbach, Broker-Owner, INTERO RENO.

 

 

Reno-Sparks Market Report July 13, 2022

July 2022 Market Report

** Data in this the July Market Report reflect market activity from JUNE 2022 compared to the previous month and year.  Information is gathered from the Reno-Sparks Association of Realtors® (RSAR) for the Greater Reno-Sparks region via Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).  Data accounts for single-family resale residences only, and excludes townhouses/condos, manufactured/modular and new construction.

  • Month-Over-Month, the Median Sales Price (MSP) in Reno-Sparks dropped slightly, down 2.4% from $615,000 to $600,000. The MSP is also 13% higher than in June 2021.

  • While the Median Sales Price (MSP) in Reno inches up 0.8% to $635,000, the MSP in Sparks dipped 3.3% to $551,000 in June 2022.  The MSI is still 15.5% and 14.6% higher respectively compared to June last year.

  • Closed sales are down 14.2% compared to May 2022 and down 30.3% compared to June 2021.  We strongly suspect that the drop in volume is attributed to recently raised interest rates burdening potential buyers.

  • The graph above illustrates the breakdown of Closed Sales by price in Reno & Sparks combined during June 2022.

  • Month-over-month, the Sold Price per Square Foot took a dip 2.7% month-over-month and is 12.8% higher than June last year.  The drop from May to June appears to be the largest decrease month-over-month in recent years.

  • The graph above shows the Median Sold Price per Square Foot by Price Range.

  • Patience, patience, patience… Sellers over the last few months have experienced slow-down in the rate of sales, also measured by “Months Supply of Inventory (MSI).” MSI shifted from 0.8 MSI to 1.2 MSI to 1.5 MSI and now 2.6 MSI over the last few months.  Month-over-month, the MSI increase by 61.2% and year-over-year it increased 331%.  Though this does appear to be a jaw-dropping statistic, do realize how artificially fast the rate of sales was during the last 2 1/2 yeas (the “COVID MARKET”).  A “balanced market” is approximately 5-7 months supply.

  • As seen in the chart above, the Months Supply of Inventory is are inching up toward the balanced market in the lowest and highest price ranges.

  • Naturally, with the rate of sales declining (as seen in the MSI numbers), the median Days to Contract is a contributing factor of that slow-down we are experiencing.  The median number of days to contract for sale has increased from 6 to 15, a 150% jump month-over-month, and 5 to 15, a 200% climb year-over-year.

  • The graph above illustrates the breakdown of median Days to Contract by price range.

  • New Pending Sales dropped 9.5% from May to June 2022.  There are 29.4% fewer New Pending Sales compared to last year.

  • As Sellers are realizing that our market has begun to shift, many are finding that now is “the time” to get out from under it.

OTHER INTERESTING STATS TO KEEP AN EYE ON:

  • Keeping an eye on the distressed sale market, at this point, we are NOT seeing that recent market activity is causing more properties to be sold as foreclosures.  Short-sales are few and far between due to the great amount of equity many home owners currently have in their properties.

  • The % of Cash Purchases in June 2022 has increase to 27.1% for all single family sales in Reno-Sparks.

SUMMARY:

    • At $600,000, The Median Sales Price (MSP) in Reno-Sparks, NV, decreased 2.4% month-over-month and is 13.2% higher year-over-year.  While the MSP was relatively flat in Reno, the Sparks, MSI decreased 3.3% since May 2022.
    • And while New Pending Sales declined in June 2022, New Listings increased.  These two factors, combined with the an increase in Days to Contract, indicate the real slowdown that our Reno-Sparks real estate market is feeling.
    • Inflation and rising mortgage interest rates appear to have been leading causes for sales to slow significantly (compared to during the rapid “COVID Market.”)  However, is this the correction in our market that we needed?
    • Interest rates are expected to sharply increase againWashington Post reports, “The Federal Reserve Board, as many of you know, is widely expected to announce later this month that it’s raising interest rates by three-quarters of a percent. That would be the second such increase in two months — and 1.5 percent over two months is a very, very big deal by Fed standards.
    • How will another jack in interest rates affect the local and national real estate markets?  Time will tell…

Do you need expert guidance for your next real estate purchase or sale?  As a Buyer, you have more negotiating power than you have in many years, so this may be the time to leverage your next purchase.  Sellers… Let’s meet to strategize about how to price your property strategically in our marketplace and present it professionally.  I am here for you, whatever your real estate needs are.  Email me at dhallerbach@intero.com or reach by cell at 775-233-0682 so we can discuss the best plan for YOU!

~Denise Hallerbach, Broker-Owner, INTERO RENO.

Reno-Sparks Market Report April 21, 2022

April 2022 Market Report

** Data in this report reflect market activity from MARCH 2022 compared to the previous month and year.  Information is gathered from the Reno-Sparks Association of Realtors® (RSAR) for the Greater Reno-Sparks region via Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).  Data accounts for single-family resale residences only, and excludes townhouses/condos, manufactured/modular and new construction.

  • Month-Over-Month, the Median Sales Price in Reno-Sparks bumped up 3% from $560,000 to $575,000. This also represents a 20% increase since March last year.

  • As typically experienced at the beginning of the Spring selling season, the # of Sold Units has jump 30% month-over-month, from 376 units to 488 units sold.  The # of Units Sold is 2.7% higher this year compared to March 2021.

  • Only 27 homes priced under $400,000 sold during March 2022.  54% of our inventory in March 2022 sold in the range of $400,000 to $750,000.

  • We are continuing to see an increase in the Sold Price per Square Foot, a 4.7% increase from February to March 2022, and a 22% increase compared to March 2021.

  • Months Supply of Inventory (MSI), a calculation of the rate of sales,  dropped slightly from 0.8 to 0.7 MSI (a slightly faster pace).  The MSI, at .07 is ever-so-slightly slower than March last year.  The current MSI indicates that if sales continue at the same pace they kept during March of 2022, and no new listing are added to the market, the entire inventory of single family homes would be “sold out” in approximately 3 weeks.  A “balanced market” is approximately 5-6 MONTHS supply. The Months Supply of Inventory is a good indicator for monitoring market shifts in the real estate market.  Until we start seeing this statistics increase to more of a balanced market, we will likely continue to see an increase in sales prices.

  • Single Family Residences in Reno-Sparks continued to move from Listing to contract status extremely quickly during March 2022.  Median Days from Listing to Accepted offer was only 5 days, considering all price points.

  • The graph above shows the Median # of Days to Contract by Price.  In March, 2022, homes in the $200k to $300k price range took a median 25 days to get into contract.  As seen in the graph above, the rest of the entire market is moving extremely quickly.

  • As seen in the few preceding months, each turn of the New Year begins another cycle of increased activity leading to Spring/Summer, historically the most active real estate selling season. The # of New Pending Sales in March 2022 (homes with accepted offers) increased again 9.5% month-over-month but decreased 19% compared to March 2021.

  • As seen in previous months, the bulk of New Contracts in the Reno-Sparks market continues to lie in the $400,000 to $750,000 price ranges.

  • The # of New Listings is also trending upward, with 593 single family homes that came to market in March 2022.  March 2022’s # of New Listings increased 25% compared to February 2022, but is 6.3% lower than March 2021.  As seen in the circled portions of the chart above, this year’s activity mirrors the activity that took place last year.

SUMMARY:

    • At $575,000, The Median Sales Price in Reno-Sparks, NV, increased 3% month-over-month and jumped 20% year-over-year. 
    • New Pending Sales and New Listings continue to trend upward.  This is a common event that usually happens in the Spring months.  However, these numbers are both lower this year compared to the same time period last year.
    • The real estate market in Reno-Sparks continues to move at a fast pace, with an average of only 5 Days to Contract over all price points combined. But the biggest recent question we are hearing a lot is, “Who and/or what is in control of real estate market?” Possible answer… “The Federal Reserve.”
    • “Taking some air out of the crazed market… is precisely what the Federal Reserve wanted to do when it raised its key interest rate in March and signaled more increases to come. Mortgage rates have surged in response, jumping to 5 percent from slightly more than 3 percent since the start of the year.” (NYTimes.com). Rates are currently over 5% and expected to continue to rise.  Will higher mortgage rates  cause Buyers to retreat from the market?  Or will will be threat of further rises keep Buyers scrambling to get into contract and lock their rates before they go any higher?  Only time will tell.
    • What we do know, is that inventory is still extremely low and we still have many Buyers still fleeing other states and moving to Nevada. Though I don’t have a crystal ball, I believe we will still see prices rising in Northern Nevada, just not as sharply as we have in recent years.

Do you need expert guidance for your next real estate purchase or sale?  I have had great success with helping my Buyers navigate this crazy market and get them into contract AND helping my Sellers get top-dollar on their sales!!  I am here for you, whatever your real estate needs are.  Email me at dhallerbach@intero.com or reach by cell at 775-233-0682 so we can discuss the best plan for YOU!  Thank you.

~Denise Hallerbach, Broker-Owner, INTERO RENO.

Reno-Sparks Market Report March 18, 2022

March 2022 Market Report

** Data in this report reflect market activity from FEBRUARY 2022 compared to the previous month and year.  Information is gathered from the Reno-Sparks Association of Realtors® (RSAR) for the Greater Reno-Sparks region via Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).  Data accounts for single-family resale residences only, and excludes townhouses/condos, manufactured/modular and new construction.

  • At $560,000, the Median Sales Price in Reno-Sparks combined appears to be stable in February 2022, with only a 2% decrease month-over-month. This also represents a 24% increase since February last year.  As we look back over the winter months during the last couple of years, the market has a history of flattening during this time frame compared to late spring and summer.

  • Number of Sold Units dipped again 7.5% from 402 to 372 month-over-month.  Units Sold were down just 4% compared to February 2021.  As seen later in this report however, with new contracts and listings on the rise, we should start to see the volume of sales increasing the the coming months.

  • The toal number of homes that sold for under $400,000 dropped from 32 to 27 month-over-month.

  • The Average Sold Price per Square Foot ticked up from $301/SF in January to $315/SF in February 2022.  The Average Sold Price per Square foot is 22% higher than it was 1 year ago and 49% higher than 2 years ago.

  • The shape of the above graph is a typical representation of the Sold Price per Square Foot by Price.  In the luxury market, homes priced over $1.5 million carried a significantly higher $/SF average than all other price points.  This is a typical observation historically.

  • In February 2022, the Months Supply of Inventory (MSI), a calculation of the rate of sales,  dropped slightly from 0.7 to 0.6 MSI.  At 0.6 MSI, the rate of sales was 22.4% faster than last year.  The current MSI indicates that if sales continue at the same pace they kept during February 2022, and no new listing are added to the market, the entire inventory of single family homes would be “sold out” in approximately 3 weeks.  A “balanced market” is approximately 5-6 MONTHS supply.

  • The Median Days to Contract over ALL price points during February 2022 was only 5 days.  Single family homes in Reno-Sparks went into contract 28.6% faster in February 2022 compared to January 2022 and 62% faster compared to February 2020!

  • The graph above shows the Median # of Days to Contract by Price.  While it usually takes a bit longer to secure an accepted offer for homes listed over $1 million, the rest of the market is moving extremely quickly, averaging 4.5 days.  That being said, the Median # of Days to Contract in the $1 million+ price points is still very fast-paced for the luxury market.

  • We are experiencing normal sale patterns as we climb out of the recent holidays and winter months, and move into the “spring sales season.”  The # of New Contracts in February 2022 (homes with accepted offers) increased again 8.4% month-over-month and also increased 16.3% compared to February 2021.

  • As usual, the bulk of New Contracts in the Reno-Sparks market continues to lie in the $400,000 to $750,000 price ranges.  However, the number of new contracts over time has been shifting to higher price points, and the $750,000 to $1 Million price range appears to be gaining momentum. 

  • The # of New Listings continues to increase as we head towards spring.  February 2022’s # of New Listings increased 13% compared to January 2022.  As seen in the circled portions of the chart above, this year’s activity mirrors the activity that took place last year.

SUMMARY:

    • The Median Sales Price is fairly holding steady, dropping 2% month-over-month.  The median is up 24% compared to last year.
    • The count of properties sold dropped again in February 2022, but we can expect to see that stat increase in the coming months, as New Contracts and New Listings are on the rise.  Spring is nearly upon us!
    • The real estate market in Reno-Sparks continues to move at a fast pace, with an average of only 4.5 Days to Contract in the “non-luxury” price points (under $1M) and 3 Weeks Supply of Inventory over all price points.  Buyers should continue to see a competitive, multiple-offer market for the foreseeable future, as long as the inventory remains low and buyer activity stays high.  It’s all about “supply and demand.”
    • The expected continued increase of New Listings in the spring and summer will hopefully alleviate some of the pressure that Buyers have been experience.  Multiple offers and competitive purchase situations have been the commonplace in the real estate market over the last couple of years.
    • Many experts suggest that rental rates will continue to rise through 2022.  Is this financially the right time for you or somebody you know to purchase instead of rent?  Visit one of my most recent blog posts, “Are You Wondering if This Is the Year to Buy a Home?” to help you decide.

Do you need expert guidance for your next real estate purchase or sale?  I have had great success with helping my Buyers navigate this crazy market and get them into contract AND helping my Sellers get top-dollar on their sales!!  I am here for you, whatever your real estate needs are.  Email me at dhallerbach@intero.com or reach by cell at 775-233-0682 so we can discuss the best plan for YOU!  Thank you.

~Denise Hallerbach, Broker-Owner, INTERO RENO.

In-The-Know Real Estate Blog March 3, 2022

The Perks of Owning More Than One Home

Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent Luxury Market Report from Luxury Home Marketing:

“As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership.”

This may be because the pandemic has altered how we think about our homes. Where we live has become, more than ever, our safe space and our getaway. And with the rise in remote work, more people are reconsidering where they want to live and buying second homes to give them greater flexibility. If you fall in that category, here are just a few of the perks you’ll enjoy, and how owning a second home may be a great decision for your lifestyle and your future.

Enjoy a Change in Scenery (or Weather)

When you have two homes, you can alternate between them as the weather changes or as you crave different scenery. Do you want to live in an area with a particular season? Would alternating between a resort and a suburban setting be ideal? With two homes, you have those options. Being able to move between homes based on which location best suits you at the time gives you added flexibility and variety that can help increase your happienss.

Build Your Wealth Faster 

You may have heard that home equity is skyrocketing, thanks to ongoing home price appreciation CoreLogic reports that the average homeowner gained $56,700 in equity over the last year. With home prices projected to continue rising, if you purchase a second home, you could benefit from rising equity on both properties to build your wealth (and your net worth) even faster.

Be Closer to Loved Ones 

The pandemic has also reignited the importance of being near our loved ones. One option worth exploring is whether you want your second home to be near the people who matter most in your life. This makes it easier to see your loved ones but still gives you your own dedicated, private space so you can be nearby for major life events or longer visits.

Lock in Your Expenses

Buying a second home today and locking in your mortgage rate may be a good option if you’re looking to stabilize your housing costs for the long haul. If you’re approaching retirement or are looking to use your second home as your permanent residence in the future, buying that house now with today’s rate and price may be a good financial decision. That way, no matter what happens with rates and prices in years ahead, your monthly payment is locked in for the next 15-30 years.

Bottom Line

Having multiple homes has considerable benefits. If owning a second home is something you’re interested in, let’s connect to explore your options, discuss the benefits, and take the next step to start your home search.

Reno-Sparks Market Report February 17, 2022

February 2022 Market Report

** Data in this report reflect market activity from JANUARY 2022 compared to the previous month and year.  Information is gathered from the Reno-Sparks Association of Realtors® (RSAR) for the Greater Reno-Sparks region via Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).  Data accounts for single-family resale residences only, and excludes townhouses/condos, manufactured/modular and new construction.

  • The Median Sales Price (MSP) in Reno-Sparks bumped up from $545,000 to $580,000, a 6.5% increase month-over-month and a 29% increase year-over-year.  Inventory remains extremely low in Northern Nevada and across the U.S.  Despite mortgage rates rising to over 4% in recent weeks, Buyers are still in the market and finding themselves in multiple offer situations, vying to win the contract to purchase.

  • The graph above shows the rapid appreciation experienced in Reno, without Sparks in the mix.  For the first time in history, the median sales price has breached the $500,000’s mark and has reached $600,000!

  • Though Sparks, Nevada also shows evidence of a rapidly appreciating market, Sparks lags behind Reno, with a Median Sales Price of $520,000 in January 2022.

  • As mentioned previously, mortgage rates have surpassed 4% in recent weeks and is at about 4.2% currently.  Cnet.com points to increasing inflation and a strong economy as reasons for the uptick in the rates. Is this stopping Buyers from purchasing homes now?  At the moment, rate increased do NOT seem to be decreasing impacting Buyer activity.  In fact, the rate increase, and threats of more increases through 2022 may be adding fuel to the fire and causing Buyers to scramble to lock their rates before they move any higher.  All that being said, according to the chart above, rates are still historically low.

  • January 2022 saw a major drop in the number of Units Sold.  Roughly 39% fewer single family homes sold in Reno-Sparks in January 2022 compared to December 2021.  16% fewer homes sold in January 2022 compared to the same time the previous year.

  • Only 32 homes in Reno-Sparks sold for under $400,ooo in January 2022. This observation could be one reason why we saw such a significant jump in the Median Sales Price.

  • The Average Sold Price per Square Foot dipped only 1.6% month-over month.  Are we starting to see a trend with Average Sold Price per Square Foot hovering around $300/SF over the last several months?  Let’s see what happens with this statistic as more homes are expected to be listed and sold in the coming spring/summer seasons.

  • Homes that sell for $1.5M+ make up the luxury market in Reno-Sparks.  Homes in the luxury market are selling at a Price per Square Foot that is 78% higher than the average Sold Price per Square Foot that spans the entire market.  The average Sold Price per Square Foot in January 2022 was $300.

  • in January 2022, the Months Supply of Inventory (MSI), a calculation of the rate of sales,  was unchanged compared to December 2021.  At 0.6 MSI, the rate of sales was 14% faster than last year.  The current MSI indicates that if sales continue at the same pace they kept during January 2022, and no new listing are added to the market, the entire inventory of single family homes would be “sold out” in approximately 2.5 weeks. A balanced market is approximately 5-6 MONTHS supply.

  • The Median Days to Contract over ALL price points during January 2022 was 7 days, a 53% drop compared to December 2021. 

  • The graph above shows the Average # of Days to Contract by Price.  The ONE property listed under $199,000 took 78 days to go under contract.

  • Contract execution typically begins picking up after the holidays.  And this year was no exception.  The # of New Contracts in January 2022 (homes with accepted offers) increased 22% month-over-month and also increased 10% compared to January 2021.

  • As usual, the bulk of New Contracts in the Reno-Sparks market continue to be in the $400,000 to $750,000 price ranges.

  • The activity trends for New Listings tends to follow the numbers for New Contracts when the holidays subside.  As seen in the graph above, there were 33.3% more New Listings in January 2022 compared to December 2021.  The # of New Listings were about the same as January last year.

  • January marks the month that New Listings are typically on the rise after the hustle and bustle of the holidays.  The graph above shows just this.

SUMMARY:

    • The Median Sales Price is holding steady appears to be on the rise again in Reno-Sparks, now at jumping from $545,000 to $580,000 month-over-month.
    • However, do notice that only 320 single # of Units Sold, so the Median Sales Price may be a bit skewed due to more homes in the upper price ranges selling during January 2022.
    • The real estate market in Reno-Sparks continues to move at a fast pace, with an average of only 7 Days to Contract and 2.5 Weeks Supply of Inventory.  Buyers should continue to see a competitive, multiple-offer market for the foreseeable future.
    • As predicted in last month’s market report, the # of New Listings and Contracts is on the rise now that the holidays are behind us!!  This should help a little for some frustrated Buyers out there.
    • Trying to decide to purchase a home now?  Many experts suggest that if you can afford the monthly payment on the house that you want to buy, there is no need to wait, especially since prices appear to continue to rise for the foreseeable future.
    • Interest Rates are on the rise, and many Buyers are still working to get a piece of the market before they go any higher.  This being said, the current rates (about 4.2% currently) are still historically low.

Answers to last month’s questions:

1) How will the surge in Omicron COVID-19 cases affect the real estate market?  Omicron COVID-19 does not appear to be impacting the market compared to the previous COVID-19 variants.

2) Will rising mortgage rates impact Buyer affordability as we progress through 2022?  We will have to see what the future holds, but in January 2022, the threat of higher rates may actually be pushing Buyers to lock their rates before they climb any higher.

3) If Buyers retreat from the market due to higher mortgage rates, will this result in a flattening of the market? I believe it could result in perhaps a slowing of appreciation, but not a decline, especially if our economic climate remains the same.

4) Let’s see what happens over the coming months and year!!  Indeed!

Looking for guidance for your next real estate purchase or sale?  I have had great success with helping my Buyers navigate this crazy market and get them into contract AND helping my Sellers get top-dollar on their sales!!  I am here for you, whatever your real estate needs are.  Email me at dhallerbach@intero.com or reach by cell at 775-233-0682 so we can discuss the best plan for YOU!  Thank you.

~Denise Hallerbach, Broker-Owner, INTERO RENO.

Reno-Sparks Market Report December 16, 2021

December 2021 Market Report

** Data in this report reflect market activity from NOVEMBER 2021 compared to the previous month and year.  Information is gathered from the Reno-Sparks Association of Realtors® (RSAR) for the Greater Reno-Sparks region via Northern Nevada Regional Multiple Listing Service (www.nnrmls.com).  Data accounts for single-family resale residences only, and excludes townhouses/condos, manufactured/modular and new construction.

  • The Median Sales Price (MSP) has remained steady in November and was $535,000 in Reno-Sparks. The MSP is 18.2%% higher than November 2020, and 33% higher than November 2019.  The steady increase in prices has been fueled by a low-inventory market and high buyer demand. The MSP sits at the very middle of a data set, with exactly half of the houses priced for less and half priced for more.

  • 6.5% fewer single family homes sold in Reno-Sparks in November 2021 compared to the previous month.  And 12.2% fewer homes sold in November 2021 compared the same month last year.  Roughly 17% more single family homes sold compared to two years ago.

  • The Average Sold Price per Square Foot is also holding fairly steady in November 2021, at $306/SF compared to $308/SF month-over-month. The Average Sold Price per Square Foot is 26.4% higher than November last year and 41% higher than two years ago.  This statistic represents the average over ALL price points.  See chart below for the breakdown of  The Average Sold Price per Square Foot by price range:

  • Months Supply of Inventory (MSI), a calculation of the rate of sales, in November 2021 was 0.8 MSI.  compared to 1.0 MSI the previous month. This means that if the rate of sales in November continues at the same pace, the entire inventory of single family homes would be “sold out” in approximately 3 weeks. A balanced market is approximately 5-6 months supply.

  • The graph to the right shows the changes of MSI by Price month-over-month.

 

 

 

 

  • The Median Days to Contract over ALL price points during November 2021 was 17 days compared to 9 days in October, showing an 89% increase month-over-month.

 

  • The graph to the right shows the Median Days from Listing to Contract over time.  Though we have seen the fast-paced market in past years (usually during the spring months), the most consistent period of rapid movement has happened since the beginning of the COVID-19 pandemic.

 

  • The graph to the right shows Days to Contract by Price Range. During November 2021, Days to Contract increased or remained constant at nearly every price point.  This is a typical observance during winter months.

 

  • The # of New Contracts (homes with accepted offers) decreased 17% month-over-month and increased 11% compared to last year.

 

 

  • The graph to the left shows the Number of New Contracts over time.  Looking back over past Novembers, we see that the # of New Contracts this year is actually a touch higher that in previous years.

 

 

  • The # of New Listings dropped from 733 in September to 606 in October 2021, a 12.6% decrease. The # of New Listings in October 2021 was nearly identical compared to last year.  Looking back over the last few years, the lowest count of New Listings brought to market is at its low every November and December.  We expect that New Listings will begin to increase again in January or February.

SUMMARY:

    • The Median Sales Price is holding steady at $535,000 for Reno and Sparks combined.
    • # of Units Sold is declining slightly through the winter months, as expected.
    • A balanced market sees 5-6 Months Supply of Inventory (MSI) and the current rate of sales is 3 Weeks Supply of Inventory.  We are still very much in a strong Sellers’ market.
    • # of New Listings is reaching its low point for the year, as seen in the previous graph.  The statistic is following its normal pattern over the years.
    • Serious buyers are plentiful, and the rate of sales at 3 weeks Supply of Inventory indicates that the market is not significantly impacted by the typical “slower” winter selling season.  In a nutshell, buyer demand continues.
  • Predictions for the coming months and year?
    • Obviously we don’t have a crystal ball, and can’t be 100% certain about what will happening in the coming months and year but here is what we are hearing from other experts in the field:
      • 1) Mortgage Interest Rates are expected to climb in 2022.  Will this news get Buyers “off the fence” to purchase now in our already LOW inventory market?
      • 2) If more Buyers get “off the fence” and purchase with very low inventory, we will likely see more multiple offer situations, and possibly purchases at or over asking price (IF the asking price is appropriate).
      • 3) If Mortgage Interest Rates rise too high, some Buyers may retreat, thus potentially causing a flattening of sales and market appreciation.
      • 4) Reno-Sparks is still perceived to be a desirable place to live and work.  Reno was ranked 12 in the U.S. for the “Best Cities for Young Professionals in 2021” as reported at the Economic Development Authority of Western Nevada website: edawn.org.
      • 4) Bottom line: We will just have to wait and see!!
  • Are you in need of guidance for your next real estate purchase or sale?  I am here for you.  Email direct dhallerbach@intero.com or reach by cell at 775-233-0682 so we can discuss the best plan for YOU!  Thank you, ~Denise Hallerbach, Broker-Owner, INTERO RENO.
In-The-Know Real Estate Blog November 27, 2021

Top Reasons to Hire a Real Estate Professional

 

Weekend Warrior November 10, 2021

Weekend Warrior: Oct 2021

 

 


THE WEEKEND WARRIOR takes a quick look at the best events around the Reno/Sparks/Lake Tahoe region from Intero Real Estate Services in Reno.  Do you get it from a friend but want it every week?  Subscribe here!  And email me if you want me to promote your upcoming event!  

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Welcome to
THE WEEKEND WARRIOR

The Weekend Warrior is your guide for the best events happening around the Reno/Sparks/Lake Tahoe region! How awesome is it to get out an LIVE again!  The social event calendar appears to be back in full swing now, so find something that suites your fancy and go!  Here is a healthy offering of what’s going on during October 2021

Bring on a little joy and laughter this month with one of these very entertaining comedians scheduled to make their stops in Reno & Lake Tahoe.  Click below on each superstar’s name for ticket sales!!

HOWIE MANDEL: Friday, Oct 15 (8 pm ) @ Silver Legacy Grande Exposition Hall (Reno) 
TONY ROBERTS: Saturday, Oct 3 (8:30 pm) @ Crystal Bay Club (Lake Tahoe)
DARCI LYNNE (My Lips Are Sealed, Except When They’re Not): Sat, Oct 23 @ Grand Sierra (Reno)
CHELSEA HANDLER (Vaccinated and Horny Tour): Fri, Oct 22 (8:30 pm) @ Silver Legacy (Reno)

RENO PHILHARMONIC: “CLASSIX” SEASON 53
MULTIPLE UPCOMING DATES

PIONEER CENTER for the PERFORMING ARTS

The Reno Philharmonic’s 53rd spectacular “Classix” Season 53 begins in October, and season tickets are on sale now!  The list below is a flash of what’s to come, but visit RenoPhil.com for ticket sales and all the wonderful details for each performance on the schedule.

October 23: RAVEL’S PIANO CONCERTO
January 15 & 16: SIBELIUS VIOLIN CONCERTO
February 12 & 13: ALL AMERICANS: COPLAND & PRICE
March 5 & 6: YOUNG VIRTUOSO RAY USHIKUBO: CONQUERING PIANO & VIOLIN
April 2 & 3: PROKOFIEV’S FIFTH
April 30: ODE TO JOY, BEETHOVEN’S FINAL BOW
May 7 & 8: ‘ALTERED LANDSCAPE’ SYMPHONY WORLD PREMIERE

Reno and Sparks are POPPING with live concerts from some of
the biggest names in American music history!
Click each link below for ticket information and sales and enjoy!
Colbie Caillat: Friday, October 1 @ Grand Sierra Resort
Rod Stewart: Saturday, October 2 @ Nugget Event Center
America: Saturday, October 2 @ Silver Legacy
Tim McGraw: Saturday, October 9 @ Nugget Event Center Outdoor Amphitheater
Brett Young: Friday, October 8 @ Grand Sierra Resort
Social Distortion: Friday, October 8 @ Cargo Concert Hall
Brian McKnight: Saturday, October 9 @ Grand Sierra Resort
Benise: Friday, October 15 @ Pioneer Center for the Performing Arts
A Day to Remember: Friday, October 15 @ Grand Sierra Resort
Kid Rock: Friday, October 15 @ Nugget Event Center Outdoor Amphitheater
In This Moment & Black Veil: Saturday, October 16 @ Grand Sierra Resort
Grand Funk Railroad: Friday, October 22 @ Grand Sierra Resort
We Came As Romans: Sunday, October 24 @ Cargo Concert Hall
Christopher Cross: Friday, October 29 @ Grand Sierra Resort
Celtic Thunder: Saturday, October 30 @ Reno Theatre

RENO ACE BASEBALL
OCTOBER 1-3 vs. AVIATORS
GREATER NEVADA FIELD

Can you believe we are nearly finished with baseball season?  Just where did THAT summer go?  Join the fun as our Reno Aces wrap up their season at Greater Nevada Field.  

Firework Friday, October 1.  A dazzling pyro display illuminates the sky over the ballpark after the game!
Saturday, October 2.  Take part in the Reno Aces T-Shirt Giveaway thanks to the Aces and T-Mobile!  Limited quantity, so get there early!
Family Sunday, October 3 begins at 1:05 pm and feature $1 hot dogs (Mmmm…) And Fan Appreciation Day offers game-goers raffle and a chance to win an Aces bobblehead, mini bat, replica jersey, and more!

For more info about the Reno Aces, the schedule, promotions, COVID guidelines and more, please visit MILB.com/Reno.

32nd ANNUAL WORLD CHAMPIONSHIP OUTHOUSE RACES
SATURDAY, OCTOBER 2 (Noon-3pm)

HISTORIC VIRGINIA CITY, NV – C STREET

If you’re seeking light-hearted, entertaining fun, you won’t want to miss the 32nd Annual World Championship Outhouse Races… You heard it right… “World Championship.”  LOL.  This free event dates back to when outdoor plumbing was outlawed in Virginia City, and angry residents took to the streets with their outhouses in protest. And so a tradition was born. This hilarious event pits teams of costumed outhouse racers against each other in an all-out potty race, pushing their home-made outhouses down C Street toward the toilet paper finish line to claim the coveted latrine title. The parade of outhouses begins Saturday, October 2 at noon with races immediately following. Register to participate and/or get more info at VisitVirginiaCityNV.com.

OFFBEAT MUSIC FESTIVAL
THURSDAY, SEPTEMBER 30 – SATURDAY, OCTOBER 2

MIDTOWN RENO

Looking for a multi venue musical event that takes you off the beaten path?  OffBeat Music Festival has been the talk of the town since 2015 (2020 excluded). This year, the event will grace seven of Midtown Reno’s most special spots bringing 61 separate performers over the 3-day music extravaganza.  Concerts take place at The Holland Project, 40 Mile Saloon, Chapel Tavern, Craft Beer & Wine, The Virgil, The Loving Cup and The Alpine.  For the complete line-up and more details, including COVID-19 guidelines, please visit OffBeatReno.com.

BIGGEST LITTLE INVITATIONAL
SATURDAY, OCTOBER 2 

BARTLEY RANCH REGIONAL PARK

Over the last 5+ years, the Reno craft beer community has grown by leaps and bounds. With this growth, the demand for better selection and better quality has increased as well, leading to multiple beer-centric establishments opening in several Northern Nevada neighborhoods.  We all know that Reno not only loves craft beer, but loves a good party too. The Biggest Little Invitational, a 21-and-over craft beer festival, is dedicated to showcasing the best of the best in the brewery world right here in the Biggest Little City. With local food vendors, some good old fashion lawn games, and the beautiful historic Bartley Ranch setting, enjoy the new standard for craft beer festivals in Northern Nevada. For more info and ticket sales, visit TheBiggestLLittleInvitational.com.

WATER LANTERN FESTIVAL
SATURDAY, OCTOBER 9 (5-10 pm)

SPARKS MARINA

Experience an evening that inspires the human spirit at the Reno-Sparks Water Lantern Festival.  Sparks Marina illuminates with the glow of hundreds of floating lanterns the evening of October 9, 2021, each filled with the hopes, dreams, prayers, petitions and love of our community.  The evening begins with a family-friendly gathering of music, food and fun.  Each guest is invited to decorate his/her own lantern, then launch it onto the water’s surface, and enjoy the magic and beauty as it joins hundreds of others on the Marina.  Learn more about this memorable event at WaterLanternFestival.com.

ELDORADO GREAT ITALIAN FESTIVAL
SATURDAY, OCTOBER 9 – SUNDAY, OCTOBER 10

MIDTOWN RENO

Holy Macaroni!  It’s the Eldorado Great Italian Festival October 9-10!!  One of our community’s favorite annual events is back and is expected to be better than ever!  You don’t have to be Italian to enjoy the food and festivities that fill Downtown Reno, transporting you to Italia in spirit. In addition to the enormous variety of Italian food that Eldorado serves, festival-goers have the opportunity to sample family recipes passed from generation to generation in the Great Italian Festival Sauce Cook-off… a crowd-pleaser every year!  Live entertainment, a grape stomp, wine walk, shopping and a gelato-eating contest round out the event.  For all the delicious details, please visit EldoradoReno.com.

GRAND SIERRA BEER & CHILI FESTIVAL
SATURDAY, OCTOBER 16 (NOON – 6pm)

THE POOL @ GRAND SIERRA 

In case you didn’t get your fix of amazing food at the Great Italian Festival the weekend prior, on October 16, you’re invited to get your fill of insanely delicious chili and brews at the Grand Sierra Beer & Chili Festival.  Featuring over two dozen local, regional, and national craft beer favorites, stop by and try them all. Pair your favorite craft beers with succulent chili’s for the best combinations. Vote for your favorite chili that will take home the People’s Choice Prize! The restaurant & brewery with the most People’s Choice votes will each win $1,000 donation to the charity of their choice along with a trophy and bragging rights. Learn more and purchase tickets in advance at GrandSierraResort.com.

PUMPKIN PALOOZA
SATURDAY & SUNDAY, OCTOBER 23 & 24

VICTORIAN SQUARE – SPARKS, NV

Pumpkin Palooza takes the love for pumpkins to another level, celebrating everything related to the beloved Halloween gourd on one fun-filled weekend in Sparks!  This spectacular annual community event offers a myriad of activities, from pumpkin-themed carnival games, mummy-wrapping contests and pumpkin derbies, to zombie walks, a children’s costume parade and more!  Live music fills the Victorian Square Plaza stage starting at noon.  For more info and the schedule of Pumpkin Palooza activities, please visit LiquidBlueEvents.com.

ZOMBIE CRAWL RENO
SATURDAY, OCTOBER 23 (8pm – ??)
DOWNTOWN RENO

It’s an total apocalyptic outbreak, when the walking dead take to the streets of Downtown Reno again!  20,000 corpses converge on over 40 taverns and bars, in search of something to quench their thirst at the Zombie Crawl on Saturday, October 23.  In true Reno form, this is one of the largest crawls of its kind and YOU can be a part of it!  Don’t know how to morph into a zombie?  I’m sure you can find a YouTube video or two out there to help you.  Learn more, from where to get your cup, to where to go, at CrawlReno.com.

COMING UP!!
While these stellar Broadway productions that are coming to Reno seem so far in the future, the dates will be here before you know it!  Tickets to Hamilton are on sale now.  And if you want a heads up to receive emails announcing when tickets become available to the remainder of is super series, visit PioneerCenter.com to sign up!

Looking for a home with a fantastic open view and space to breathe. This gorgeous and loved home at 5409 Hidden Valley Ct in Reno, NV is beautifully positioned on a .46 acre property that offers stunning sunsets over the Sierras, Steamboat Creek, billowing clouds, twinkling city lights and the gorgeous landscape the current owners created.  RV Parking is an option in this lovely 2,888 square foot, 4 bed/3 bath/3 garage home … just a little shift of the front landscape for opening access. For more information, photos and a virtual tour, please visit Bit.ly/5409HiddenValleyCt and contact me today for a showing! 775-233-0682.

Inquiring Minds want to know what is happening in the Reno-Sparks Real Estate Market. How did August 2021’s statistics shake out?  Check out our September 2021 Market Report for the August numbers at DeniseHallerbach.com. 


DENISE HALLERBACH
Broker/Owner – Intero Real Estate Services – Reno
NV Lic # B.1001182.CORP

dhallerbach@intero.com
www.denisehallerbach.com

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Weekend Warrior November 10, 2021

Weekend Warrior: Aug-Sept ’21

 


THE WEEKEND WARRIOR takes a quick look at the best events around the Reno/Sparks/Lake Tahoe region from Intero Real Estate Services in Reno.  Do you get it from a friend but want it every week?  Subscribe here!  And email me if you want me to promote your upcoming event!  

View this email in your browser

Welcome to
THE WEEKEND WARRIOR
The Weekend Warrior is your guide for the best events happening around the Reno/Sparks/Lake Tahoe region! How awesome is it to get out an LIVE again!  The social event calendar appears to be back in full swing now, so find something that suites your fancy and go!  Here is a healthy offering of what’s going on from mid-August to mid-September 2021!

CONCERTS at COMMONS BEACH
EVERY SUNDAY – JULY 25 THROUGH SEPT 5 (4-7 pm)

COMMONS BEACH – TAHOE CITY, CA
One of Tahoe City’s most cherished community events takes place every Sunday afternoon/evening!  Concerts at Commons Beach brings a solid lineup at one of the most scenic spots on Earth, majestic Lake Tahoe.August 15: Afrolicious (Eclectic, Electric, Funky)
August 22:  Argone (Funk, Soul)
August 29: Dead Winter Carpenters (Bluegrass, Country, Rock)
September 5: Joy & Madness (Funk, Soul)

Guests are welcome to bring picnics, blankets, and low-back chairs for a perfect lakeside evening. Local food and drink vendors sell beer, wine, soft drinks, sushi, bbq foods, ice cream, and more. Go early and enjoy the lakeside ambiance with friends and family. The venue has a fully equipped playground for your little concert-goers too!  For more info, visit ConcertsAtCommonsBeach.com.

SEBASTIAN MANISCALCO
THURSDAY, AUGUST 19 (7 pm & 9:30 pm)

GRAND SIERRA RESORT – GRAND THEATRE
I’ve said it before, and I’ll say it again… Sebastian Maniscalco has to be one of the funniest comedians on the planet.  Every clip I see of his stand-up, I literally cannot stop laughing.  The body language, the facial expressions, the delivery… all spot-on!  Click HERE for a great example of his humor when he shares “No Naps Growing Up in My House.”  Don’t miss Maniscalco at the Grand Sierra on August 19 for a belly-aching night of laughter. For tickets, visit GrandSierraResort.com.STEVE MARTIN & MARTIN SHORT: THE FUNNIEST SHOW IN TOWN AT THE MOMENT
SATURDAY, AUGUST 21 (8 pm)
GRAND SIERRA RESORT – GRAND THEATRE

Don’t miss the show that redefines the form in unexpected and profound ways, from two of the funniest, most influential and acclaimed talents of the past century.  Steve Martin and Martin Short have an undeniable chemistry and timing on stage that reflects a friendship forged over three decades which developed when they met for the first time on the set of the 1986 film “Three Amigos.” For more information and tickets, visit GrandSierraResort.com.

BILL MAHER: LIVE STAND UP TOUR
SUNDAY, SEPTEMBER 5 (8 pm)
RENO BALLROOM

Bring on the laughter, big-time, at Bill Maher’s Live Stand Up Tour.  Maher’s combination of unflinching honesty and big laughs have garnered him 41 Emmy™ nominations. For more than 20 years, he has set the boundaries of where funny, political talk can go on American television. Haven’t seen Bill Maher in action?  Catch him HERE in a quick clip of him talking about the “Return of the Mask.”  Learn more about Maher and get your tickets to see him at SilverLegacyReno.com.

RENO STREET FOOD – AKA FOOD TRUCK FRIDAY
EVERY FRIDAY THRU AUGSUT 27 (4-9 pm)
IDLEWILD PARK
It’s hard to believe that we’re in the last few weeks of summer… only 3 more opportunities for Reno Street Food’s “Food Truck Friday” at picturesque Idlewild Park. Each Friday evening, 40 gourmet food and beverage trucks gather to serve tantalizing bites and beverages. Don’t forget to bring along your light-weight beach chair and/or blanket to kick-it on the grass near the Truckee River while you savor your meal and chill to live music.  Friendly dogs on leashes are welcome.  Find out which trucks and entertainers will be there each week at the Reno Street Food Facebook Page.

ANNIE
AUGUST 19, 20, 21, 26, 27, 28 (7:30 pm)

BARTLEY RANCH – ROBERT Z. HAWKINS AMPHITHEATER
The talented local cast of Sierra School of Performing Arts invites you to enjoy the infectious tunes of the classic musical, Annie at Bartley Ranch’s beautiful outdoor amphitheater.  Don’t miss his beloved story of the lovable Orphan Annie who escapes the clutches of evil Miss Hannigan and wins the heart of a kind billionaire, Oliver Warbucks, who changes her fate forever. Offered 2 more weekends in August, it’s a must see!  Visit SierraSchoolOfPerformingArts.org for more info and tickets!

THIRD THURSDAY
AUGUST 19 & EVERY THURSDAY YEAR-ROUND (4-9 pm)

VICTORIAN SQUARE – SPARKS, NV
Enjoy an eclectic mix of entertainment and intriguing works of local artists at Third Thursday in Downtown Sparks. This month, the reggae/ska/soul vibe of Reno band Keyser Soze will keep you movin’ and groovin’. Third Thursday also features tasty food, cold drinks, live entertainment, crafts, chef demos, and movies on the big screen.  A Knight’s Tale,. plays at this month’s gathering, August 19 at the Tony Armstrong Amphitheater at 8:15 pm. and is offered year-round!  For more info about the August 19 offerings and other Third Thursday entertainment, visit 39NortthDowntown.com.

NORTHERN NEVADA INTERNATIONAL DRAGON BOAT FESTIVAL
SATURDAY, AUGUST 21

SPARKS MARINA PARK – 300 HOWARD DR., SPARKS, NV
Dragon boat racing returns to Northern Nevada on Saturday, August 21!  What began in southern China as an ancient folk ritual among neighboring villages, the races in boats shaped and decorated like dragons has emerged in modern times as an international sport that began in Hong Kong in 1976.  Northern Nevada’s festival offers plenty of racing excitement and wholesome, family-friendly festivities.  Visit the many vendors and exhibitors in the Health and Wellness Village, Food Truck Bazaar, Kids Fun Zone, and more.  For additional information visit GwnDragonBoat.com.

NITRO CIRCUS
SUNDAY, AUGUST 22 (6 pm)

GREATER NEVADA FIELD
Greater Nevada Field overflows on August 22 with heaps of bravery and some of the most daring feats performed at Nitro Circus!  The legendary 45-foot Giganta ramp will launch athletes into the sky at 40 miles per hour while moto-riders will send it 65 feet high. Nitro’s daredevils will also attempt the craziest stunts imaginable on new contraptions you never imagine could fly! With no roof there are no limits. These real-life action heroes are sure to inspire fans of all ages as they push the envelope at every show with incredible new tricks never seen before. Catch all the action and excitement and get your tickets and more information at GreaterNevadaField.com.

RENO ALOHA FESTIVAL
SATURDAY, AUGUST 28 (10 am-6 pm)

WINGFIELD SPRINGS PARK – DOWNTOWN RENO
Get your HULA ON at the Reno Aloha Festival, a beautiful celebration of the unique traditions of the Hawaiian Islands. Experience Hawaiian culture in dance, music and mouthwatering food. Shop the many islander merchants while the kids enjoy Keiki Village that offers fun interactive activities. Attend educational workshops and learn how to play the ukulele, hula or even speak the Hawaiian language.  Held in the heart of downtown Reno at Wingfield Park along the rushing Truckee River, this event is perfect for all ages!  Visit the Reno Aloha Festival Facebook Page to learn more!

BEST IN THE WEST NUGGET RIB COOK-OFF
WEDNESDAY, SEPT 1-MONDAY, SEPT 6

VICTORIAN SQUARE – DOWNTOWN SPARKS, NEVADA
If you have a hankering for some of the best ribs west of the Mississippi, then head on over to the Best in the West Nugget Rib Cook-Off.  It’s is the “place to be” for one of Northern Nevada’s most cherished annual events where 20 of the best cookers in the country converge on Victorian Square in Sparks to treat us to finger-lickin’ goodness that will make your mouth water.  Don’t worry, there are plenty of ice-cold beverages to wash those ribs down, and live music to dance it all off.  For more information about the event and parking, visit NuggetRibCookoff.com.

SHAKESPEARE FESTIVAL and SHOWCASE SERIES EVENTS
THROUGH AUGUST 23, 2021
SAND HARBOR AMPHITHEATER – LAKE TAHOE, NV
In past years, the talented actors who have graced the Sand Harbor stage have treated us to one comedy and one tragedy each summer at our beloved Shakespeare Festival.  This year, they are shaking it up with The Complete Works of William Shakespeare (Abridged)!  Tuesdays to Sundays through August 22, three ambitious classic Converse-clad actors armed with an outrageous assortment of outerwear and props, cram the Bard’s entire canon of plays (and sonnets!) into two hours of sheer Elizabethan-esque ecstasy. Need the play writers and directors more? Buckle your seatbelts, it’s going to be a bumpy ride. This endearingly irreverent and lightning-paced romp through the greatest plays of all time will have you rolling with laughter and jumping in the aisles. Perhaps The Today Show captured its spirit best when they said, “If you like Shakespeare, you’ll like this show. If you hate Shakespeare, you’ll love this show!”In addition to the hilarity of Shakespeare, you are invited Monday evenings to Sand Harbor’s remaining Showcase Series Events. Bring your own picnic or partake in the delicious fare offered at the performances to enhance your experience.  Here is the lineup this summer:

August 16: Mumbo Gumbo- The 7th Annual Prim Music Night
August 23: Reno Jazz Orchestra- An Evening with Diane Schuur

All performances begin at 7:30 pm.  For all the awesome details, please visit LakeTahoeShakespeare.com.

RENO ACE BASEBALL
AUGUST 26-31 vs. SACRAMENTO RIVER CATS
SEPTEMBER 2-7 vs. TACOMA RAINIERS
SEPTEMBER 16-21 SALT LAKE BEES
GREATER NEVADA FIELD
We’re #1 (so far) in the Triple A West League!  Woohoo!  The Reno Aces, as of August 15 have a winning record of 28-17, and are ahead of the competition in the West and East Divisions.  Can we keep up this stellar performance through the end of the season?  Join the fun at Greater Nevada Field to find out, and enjoy these fun promos while cheering on the Aces to victory:Military Mondays invite all Military Members and First Responders to take advantage of BOGO tickets, enjoy Baseball BINGO, and bring your vaccinated fury friend (no… not your high school buddy… your well-behaved, leashed pup!!)
Taco Tuesdays call us to enjoy two street tacos for $6 or two street tacos and a beer for $10, presented by Alice 96.5.
Thirsty Thursdays offer $2 Coors Light Drafts and $4 “Aceball Ales” and are presented by Coors Light.
Firework Fridays illuminate the sky over the ballpark.
Saturday, August 28 is Military Appreciation Night complete with a

Kevin Cron Tank Bobblehead giveaway and pre-game fun on the plaza!
Family Sundays begin at 1:05 pm and feature $1 hot dogs… Hot Diggity Dog!!For more info about the Reno Aces, the schedule, promotions, COVID guidelines and more, please visit MILB.com/Reno.

62nd ANNUAL INTERNATIONAL CAMEL & OSTRICH RACES
FRI, SEPT 10 (5-7 pm), SAT, SEPT 11 (10 am-12 pm & 2-4 pm) & SUN, SEPT 12 (12-2 pm)

HISTORIC VIRGINIA CITY ARENA & FAIRGROUNDS
Head on up to historic Virginia City for one of our region’s zaniest events of the year!  The 62nd Annual International Camel and Ostrich Races grace the fairgrounds and will provide side-splitting entertainment you won’t soon forget. This comical racing spectacle sends daring riders on camels, ostriches and zebras around the arena and across the finish line… and sometimes not.  Join the amusement at one of the three races happening this weekend.  Click through to VisitVirginiaCityNV.com for more details and ticket sales.

THE GREAT RENO BALLOON RACE
FRIDAY-SUNDAY, SEPTEMBER 10-12 (5 pm-11 am)

RANCHO SAN RAFAEL PARK
September 10-12, Northwest Reno’s skies will once again be covered with a sea of vibrant balloon beauty!  The Great Reno Balloon Race is a three-day event that is free to the public, and brings a multitude of shapes, sizes and colors to watch in awe. Roll out of bed (pre-dawn) and grab some doughnuts, your Thermos of piping hot coffee, some comfy beach chairs and blankets, and head out to Rancho San Rafael park to witness the “Super Glow Show” and mass ascension. It’s a spectacle to behold and only happens once a year at one of Reno’s most beloved annual traditions. The Great Reno Balloon Races started in 1982 with about 20 balloons. Currently, we no enjoy about 100 different balloons these days. Visit RenoBalloon.com for more on this super community event.

STIHL NATIONAL CHAMPIONSHIP AIR RACES
SEPTEMBER 15-18 (8 am-5 pm) and FINALS on SEPTEMBER 19 (8 am-6pm)
RENO-STEAD AIRPORT
I feel the need! …the need for SPEED!!  Planes and their pilots are pushed to the limits at the National Championship Air Races September 15-18!  Experience the thrill of the chase of six different racing classes with speeds reaching over 500 miles per hour.  In addition to racing action, talented performer pilots take to the skies over Reno-Stead airport.  The lineup includes Tucker’s Air Patrol, a throwback to the glory days of barnstorming, U.S. Marine Corps, MV-22 Osprey, demonstrating vertical takeoff and landing as well as short takeoff and landing capabilities, and F35A Lightening II Demonstration Team, boasting the world’s most advanced multirole stealth fighter.  Don’t miss the thrilling, aerobatic action of Jim Peitz Aerosports and an exhilarating hour-long demonstration of flight excellence by our U.S. Air Force Thunderbirds. For all the awesome details, visit AirRace.org.

Behold… the exciting concerts happening in Reno and Sparks through mid-September 2021!
Click each link below for ticket information and sales:
ZZ Top: Saturday, August 14 @ Reno Ballroom
Air Supply: Friday, August 20 @ Silver Legacy Grand Exposition Hall
Megadeth: Tuesday, August 31 @ Reno Events Center
Wynonna Judd: Thursday, September 2, 2021 @ Grand Sierra Resort
Clint Black: Friday, September 3 @ Atlantis Resort Casino
Lindsey Stirling: Saturday, September 4 @ Grand Sierra Resort
REO Speedwagon: Saturday, September 11 @ Silver Legacy Resort Casino
Death Cab for Cutie: Thursday, September 16 @ Grand Sierra Resort
Camila: Friday, September 17 @ Grand Sierra Resort
Toby Keith: Saturday, September 18 @ Nugget Event Center Outdoor Amphitheater
Kiss: Thursday, September 23 @ Nugget Event Center Outdoor Amphitheater



HARVEY’S LAKE TAHOE SUMMER CONCERTS
SEE DATES/TIMES BELOW
LAKE TAHOE OUTDOOR ARENA @ HARVEY’S
Harvey’s Summer Concert Series keeps rolling with its hot line-up you won’t want to miss!  Megastars of country and rock hit South Lake Tahoe’s Outdoor Arena at Harvey’s to bring you unforgettable concert experiences you won’t want to miss.  Get your tickets soon before all seats are gone!  Here are the scheduled concerts through Summer 2021 and into 2022:Dierks Bentley (Country): Sunday, August 22
Eric Church (Country): Friday & Saturday, August 27 & 28
Phish (Rock): Tuesday & Wednesday, August 31
Miranda Lambert (Country): Thursday, September 2
Train (Rock): Friday, September 3
Alabama (Country): Saturday, Saturday, September 4
Jackson Browne (Rock): Saturday, September 11
Kenny Chesney (Country): Tuesday and Wednesday, July 12 & 13, 2022 (Rescheduled)

Learn more and access links to ticket sales at Caesars.com.

I LOVE Vietnamese cuisine!  And whenever I eat at my favorite local restaurants that serve this dish, my salivary glands go into overdrive.  I thought it would be fun to make this popular, flavorful dish at home, so I found this simple recipe online and voila!  Here it is for you and your family/friends to enjoy.  Visit my Favorite Recipes Blog at DeniseHallerbach.com to learn how to make it. Vui thích! (Enjoy!)

Looking for a home with a fantastic open view and space to breathe.  5409 Hidden Valley Ct in Reno, NV is beautifully positioned on a .46 acre property that offers stunning sunsets over the Sierras, Steamboat Creek, billowing clouds, twinkling city lights and the gorgeous landscape the current owners created.  RV Parking is an option in this lovely 2,888 square foot, 4 bed/3 bath/3 garage home … just a little shift of the front landscape for opening access. For more information, photos and a virtual tour, please visit Bit.ly/5409HiddenValleyCt and contact me today for a showing! 775-233-0682.

The typical summer slow-down?  Beginning of a market plateau?  Time will tell, as we move into Fall 2021 for what the market will bear. Learn more about what’s happening with the July 2021 housing inventory, prices, sales volume, rate of sales and more in the August 2021 Reno-Sparks Market Report at DeniseHallerbach.com. 

What are the latest trends we’re seeing in the Real Estate Market across the country these days?  Be “In The Know,” and find out what the national experts have to say in this ever-crazy market of 2021 at DeniseHallerbach.com.


DENISE HALLERBACH
Broker/Owner – Intero Real Estate Services – Reno
NV Lic # B.1001182.CORP

dhallerbach@intero.com
www.denisehallerbach.com
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