Always adding new features for the home buyer and seller, Zillow recently announced the launch of Zillow Compare. What is Zillow compare? From the release:
Zillow Compare, a new search tool that allows you to enter two different regions and compare home values and demographic information for each region side by side. Enter any combination of states, cities, ZIP codes or neighborhoods, and Zillow Compare pulls useful statistics for both markets, like the Zillow Home Value Index (median home value), total homes sold in the past month and median household income, onto one page.
This tool is pretty neat. I plugged in Reno and Sparks, Nevada. Here’s what Zillow Compare told me about Reno compared to Sparks…
Reno, NV tends to be more expensive for home buyers than Sparks, NV. During the last year, Reno home values have fallen by 4.2%, while Sparks prices have fallen by 4.1%. The median sale price in Reno is $153,700, but the median listing price was $155,000, a 0.8% discount. Meanwhile in Sparks, the median selling price is $149,600, and the starting price had a median of $150,000, a 0.3% discount. There are currently 2011 homes for sale in Reno and 929 for sale in Sparks. In May, Reno home sellers managed to move 518 houses, while Sparks saw 288 transactions.
At $45,745, the median income in Sparks is $5,215 more than in Reno, and $1,233 higher than the national average. Reno has an older median age, at 35, compared to 34 in Sparks, and a shorter average commute. The average commute in Sparks is 20 minutes and the average commute in Reno is 19 minutes.
Click here to see the data and charts for Reno vs. Sparks.
Give it a spin. Let me know if you discover something interesting.