Our friends at First American supplied the following Washoe County sales data broken out by zip code. The data reflects SFR sales for the last 12 months. Click here for a zip code map.
| Zip Code | Sales | Lowest Price | Highest Price | Median Price |
|---|---|---|---|---|
| 89402 | 2 | $2,062,500 | $9,800,000 | $5,931,250 |
| 89431 | 191 | $89,846 | $625,000 | $242,000 |
| 89433 | 84 | $95,000 | $308,000 | $256,500 |
| 89434 | 226 | $169,500 | $985,000 | $280,000 |
| 89436 | 922 | $152,138 | $9,301,866 | $330,000 |
| 89439 | 28 | $185,000 | $1,150,000 | $405,000 |
| 89441 | 205 | $199,683 | $1,300,000 | $367,404 |
| 89451 | 97 | $495,000 | $16,000,000 | $1,200,000 |
| 89501 | 8 | $175,000 | $590,000 | $345,000 |
| 89502 | 232 | $60,000 | $2,439,140 | $277,500 |
| 89503 | 219 | $124,000 | $712,000 | $270,000 |
| 89506 | 515 | $109,000 | $690,000 | $274,000 |
| 89508 | 186 | $95,000 | $690,000 | $256,385 |
| 89509 | 250 | $199,000 | $1,900,000 | $391,950 |
| 89510 | 7 | $350,000 | $884,900 | $489,000 |
| 89511 | 322 | $227,500 | $2,975,000 | $750,000 |
| 89512 | 115 | $67,088 | $540,000 | $265,000 |
| 89519 | 106 | $280,000 | $2,300,000 | $586,000 |
| 89521 | 556 | $205,000 | $1,281,600 | $371,040 |
| 89523 | 510 | $82,178 | $1,350,000 | $356,944 |
| 89703 | 1 | $925,000 | $925,000 | $925,000 |
| 89704 | 28 | $100,000 | $1,140,000 | $382,500 |
| ==== | ======= | ======= | ======= | |
| 4,810 | $60,000 | $16,000,000 | $331,000 |
Data is based on public data gathered between 12/1/2006 and 11/30/2007. It is believed to be accurate, but is not guaranteed.
19 comments
Looks like 89436 Blew away every other area in reno.
Interesting 89436 made up 19% of ALL sales in in reno during the last 12 months. Add to the fact that there are 22 different zip codes (areas) in reno.
what does this mean? is it just the population density, is it affordability, or is it just the fact that 89436 seems to be the over-all more desirable area to live in reno? Also maybe it is coincidence but the median price sold in 89436 is almost exactly the same as reno’s as a whole.
whatever it is, I find it interesting that 1 zip code accounted for close to 20% of all sales.
Interesting 89436 made up 19% of ALL sales in in reno during the last 12 months. Add to the fact that there are 22 different zip codes (areas) in reno.
what does this mean? is it just the population density, is it affordability, or is it just the fact that 89436 seems to be the over-all more desirable area to live in reno? Also maybe it is coincidence but the median price sold in 89436 is almost exactly the same as reno’s as a whole.
whatever it is, I find it interesting that 1 zip code accounted for close to 20% of all sales.
The relatively high sales activity shown for that zip code, which seems to be largely comprised of the Sparks/Spanish Springs region, indicates to me that this is where working people in the Reno area are buying homes. Their job locations and their incomes likely make the pricing and location in this community an area of interest for them. My unscientific conclusion is that this area reflects the type of house and neighborhood that the typical Reno working family finds both affordable and acceptable commute-wise. The law of large numbers will tend to make this area’s median impact the median for the region generally.
Well Guy, these figures support what I’ve been saying for sometime: when you have a small number of sales; very few are at the low end of the price spectrum; and a couple of mega sales are at the other end; the median sales price becomes skewed and is really an unreliable barometer of the market as a whole.
Example: zip code 89402 [Crystal Bay]. Only two sales for the year, and one of them is off the chart. Are we really supposed to conclude that if you want to purchase a home in Crystal Bay, it’s going to cost you $6M because that’s the median sales price?
How about zip code 89451 [Incline Village]? Only 97 sales for the year and we know at least one of them was for $16M; [according to Lexi and Mark] there were another two at $9M/each; and, who knows how many others at $2.5M>?
In a community of nearly 8K single family homes/condos, for the last year we’ve see there have been roughly 8 sales/month and we’re supposed to conclude the market’s immune from everything else around it because the median sales price increased to in excess of $1.2M?
Went to a local watering hole this last week and sat next to a table where we learned a long time realtor was sitting. When she learned we were recent transplants to the area, she lamented that she had not met us earlier [not because we’re such nice people but rather] because she could have sold us a house. We replied there was nothing to lament inasmuch as we’re renters.
She then jumped into the party line of how it’s such a great time to be buying Incline Village real estate because the median sales price continues to rise higher and higher. When I replied I had a bit of a different perspective, she was ready for an argument that we respectfully chose to avoid.
But that’s the point. The industry needs a different barometer than median sales prices or DOMs [of only those properties that actually sell] in order to accurately gauge the state of the real state of the market.
Hi Guy, I’m a little confused about the 89501 zip code. Does this data not include condos and townhomes? Or is it just existing home sales? I know there have been more than 8 sales downtown since a lot of the Palladio’s units have closed in the past year, along with Belvedere Tower, Montage sales etc.
My thought on why Wingfield Springs is so popular? When you look at what area has built up their retail base the strongest, I think it’s definitely Wingfield Springs/Spanish Springs. An insane amount of stores have opened up out there, including a Coscto, Best Buy, Kohls, Bed Bath and Beyond, etc etc. I counted over 100 stores opening up in just two years. One thing I hear over and over from friends who live in Wingfield Springs is how convenient it is not to have to drive 15 minutes into town every time they need something. I dunno, just a thought. Because price-wise, there are other areas of Reno that can compete with Wingfield Spring’s prices and neighborhood quality and schools.
Kind of a sad statement Mike Van H. We choose the area to live in because of convenience of shopping. Is our goal in life to be consumers? My guess is more people would like to live closer to town but can’t afford it. I constantly hear from peolpe who live in sapnish springs or wingfield springs that the traffic and commute is terrible but there upside down in there homes and won’t be moving soon.
It appears that as our economy slows and the housing market crashes everyone is yelling the words “more retail”. More retail downtown, more retail in spanish spring. More retial will not fix anything. It will create more empty stores around Reno.
Some zip codes have more houses than others.
I respectfully disagree with you Diablo. Shopping convenience IS important. It’s a major drawback, as far as I can tell, of Somersett. Having a Costco nearby is major. It isn’t about consumerism. It’s about convenience. If I need a jug of milk or loaf of bread, I want to drive a few minutes.
I also disagree that folks would have preferred living closer to town. But having only visited Reno multiple times and not lived there, I have a different viewpoint.
For instance, my husband and I didn’t like the long drive out of the depths of Arrowcreek in order to get to shopping and the freeway. Not that bad in California terms, but once you drive around Reno you get spoiled real fast.
Just out of curiosity, Guy, I’m wondering if you let us know what sold in 89436 for $9.3 million.
Thanks.
Mike Van H, I don’t know exactly what the data includes/excludes. There wasn’t an accompanying explanation. Because the data is from Washoe County (and not the MLS) it seems like it should include more than just re-sales. Also, the data was labeled “SFR” (single family residence). But the question is does their definition of SFR include condos and town homes? According to your data, I guess it does not.
SkrapGuy, I searched the MLS for the $9.3M sale, but could not find it. This tells me it was either a FSBO or possibly new home sale. Perhaps, GreenNV can find it. Green?
I, too, was curious about the 9.3 mil sale in 89436, and pulled up the Assessor records for the year. There are no sales of any kind listed up there in this price range. The 9.8 mil sale in 89402 was actually a package of 2 homes and 2 vacant parcels.
When looking at the sales in Cold Springs, you need to add the sales in 89506 and 89508. 89508 is a new zip code splitting off from 89506, but doesn’t show up on the maps yet. Likewise, a lot of sales that should be in 89519 (Caughlin Ranch) still show up in the area’s old zip 89509. The realtors are a little slow to pick up on change!
Thanks Guy and Green for your efforts. I just cannot conceive of anything in 89436 selling for $9.3 million. Unless it was some major acreage, and even then I can’t imagine it. Surely $9.3 million would have to be one of the highest SFR sales in all of Washoe County (excluding Tahoe). Maybe it’s a misprint. Maybe it shoud be $930,000?
horrible commute times from wingfield springs? I beg to differ, I have lived in this area for 5-6 years. While the traffic has increased considerably, the commute isn’t bad at all.. On a BAD day it will take me 30min to get from downtown reno to wingfield.. thats on a bad day I mind you. 75% of the time I make the trip in 15 min. tops.
I’m not sure where you’re friends work that complain about the commute time, but 30min in bad traffic and 15min 75% of time isn’t considered horrible in my book.
not to mention with all the retail going up in spanish/wingfield springs many people don’t even have to commute. I find it rare that I even need to go downtown for anything. I have just about every thing I need here.
as for people living out here but really would rather live in the city . I don’t follow that either. I moved out here because it was still close to reno but far enough away that I could still feel comfortable and not crowded.
89511 seems to be pretty robust; any ideas on why?
89511 seems to be pretty robust; any ideas on why?
Search UK Postal Code (PostCode) of Place & City names in UK (Zip code, Postcode).http://www.postalcodesfinder.co.uk
I would recommend http://www.zipcodesmapped.com/ for any US zip code map.
You can use this to find any US zip code maps. You can search by (City, State OR Zip). they have all the maps showing zip codes and major mile streets in all of the united states. The service is free. Search for five Digit Zip Code and find the Maps for all 50 states. A Free ZIP Code Finder which can do wonders for you.
“”But the question is does their definition of SFR include condos and town homes?”"
The definite answer is no. The county uses seperate “Use Codes”, 72 in total to decipher what type of property is on any given parcel. If the search was done for only SFR then those numbers do not include Condos, Town Homes, Mobile Homes, Duplexes, Ect.
I work for a Title company here in town, 1st time poster, long time reader.
Thanks, Dru