MLS Areas By Percent Decline in Median Home Price

From my monthly median sold price table we know that Reno-Sparks home prices are now more then 30% off their peak reached in July 2005.  But this number is for all Reno and Sparks.  What are the declines by MLS area?  And did every area peak at the same time?  These are questions I was curious about, so I pulled the data and found the following results (see table below).

Depending on the area, sold prices peaked in June, July or August of 2005.  This was expected.  However, the percent today that these areas are off their peaks is much more variable.  For example, MLS area 163 (“Southwest”) has experienced the smallest decline; only 19.4%.  Followed by area 142 (“Hidden Valley”) with a mere 22.2% fall.

Which areas have been hit the hardest?  The “Old South Suburban” area (MLS area 164) has suffered a 46.3% drop in prices; and “Donner Springs” (MLS area 141) has fallen 42.6%.

Here a link to the MLS Area map as provided by the Northern Nevada Regional MLS.

MLS Areas by % Decline in Median Sold Prices

MLS #

MLS Area

median sold peaked

% decline from peak

164

Old South Suburban

 July 2005

 46.3%

141

Donner Springs

 July 2005

 42.6%

181

Sparks – East

June 2005

 36.0%

119

North

 July 2005

 35.6%

180

Sparks

 August 2005

 35.5%

171

Southwest Suburban

June 2005

 35.4%

103

North Valleys

 July 2005

 34.3%

121

Northwest Suburban

 June 2005

 34.2%

143

South Meadows

June 2005

 34.2%

140

Southeast

July 2005

 33.2%

120

Northwest

July 2005

 31.9%

161

West Southwest

 May 2005

 31.3%

182

Sparks – Suburban

 July 2005

 30.5%

109

Spanish Springs

August 2005

 27.0%

165

South Suburban

 June 2005

 26.1%

160

Old Southwest

 August 2005

 25.7%

142

Hidden Valley

July 2005

 22.2%

163

Southwest

August 2005

19.4%

100

All Reno/Sparks

July 2005

30.8%

 

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About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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