Blog_photo_3In Reno-Sparks, compared to this time last year:  median home prices are down; sales volume is down; and number of homes (units) sold is down.  However, this is not the case everywhere in Reno-Sparks. In fact, drilling down to the individual MLS areas, we observe that some areas have actually experienced growth as compared to last year. [and, no, I’m not drinking the Kool-aid.] Let’s take a closer look.

Whereas the bulk of the 40+ MLS areas that comprise the entire Reno-Sparks area have experienced lower median prices and sales (in both units sold and $ volume) as compared to last year, a few areas have bucked the trend.

Reno-Sparks area-wide YTD Median Sales Price is off 10.4% (YTD 2007 vs. YTD 2006).  But look at the % change in YTD median sales prices of these three MLS areas:

MLS # Area ?
175 West Washoe Valley +48.3%
171 Reno-Southwest Suburban +46.7%
176 Virginia City Highlands +10.5%

Reno-Sparks area-wide YTD Unit Volume is off 16.6% (YTD 2007 vs. YTD 2006).  That’s 16.6% less number of homes sold this year compared to last year at this time. But look at these eight MLS areas:

MLS # Area ?
131 Reno-North Valley +28.0%
176 Virginia City Highlands +27.3%
183 Spanish Springs-South +25.3%
175 West Washoe Valley +25.0%
185 Spanish Springs-East +17.7%
171 Reno-Southwest Suburban +16.7%
133 Reno-Lemmon Valley +13.3%
142 Reno-Hidden Valley +3.3%

Reno-Sparks area-wide YTD $ Volume is off 21.7% (YTD 2007 vs. YTD 2006).  That’s 21.7% lower sales dollar volume this year compared to last year at this time. But look at these seven MLS areas:

MLS # Area ?
175 West Washoe Valley +107.6%
176 Virginia City Highlands +36.5%
171 Reno-Southwest Suburban +33.9%
131 Reno-North Valley +15.9%
185 Spanish Springs-East +9.4%
183 Spanish Springs-South +6.9%
133 Reno-Lemmon Valley +4.0%

Data courtesy of the Northern Nevada Region MLS - July 2007.