Which MLS areas of Reno and Sparks, Nevada saw the largest price increases in 2014?

MLS map iconOn a quarter-over-quarter basis, the median sales price for houses and condos in the Reno-Sparks market increased nearly 17 percent in 2014 [4th-quarter 2014 median of $242,000 compared to 4th-quarter 2013 median of $207,000.]

However, not all areas saw the same degree of increase. In fact, some areas even experienced a decline in median sales price.

The table below shows the percent change in median sales price for Q4 2014 over Q4 2013 broken out by MLS Area and then sorted from highest to lowest. Because the number of sales was quite thin for some MLS areas, this created a high degree of variability in the “percent change” results. For that reason I filtered only on those MLS areas that had at least 50 sales in either one or both of the quarters being compared.

MLS Area MLS Area # Number of Sold Listings – 2014 Q4 Median Sold Price – 2014 Q4 Number of Sold Listings – 2013 Q4 Median Sold Price – 2013 Q4 Q-o-Q % Change
Reno-Stead 134 91 $175,000 97 $140,000 25.0%
Reno-Old Southwest 160 64 $306,250 45 $252,000 21.5%
Reno-Southwest 163 104 $359,500 97 $300,000 19.8%
Sparks-Suburban 182 102 $268,500 98 $227,000 18.3%
Reno-Cold Springs 136 47 $192,000 55 $165,900 15.7%
Sparks-East 181 95 $192,000 114 $166,700 15.2%
Spanish Springs-South 183 118 $280,500 95 $244,000 15.0%
Reno-Old Northwest 120 82 $195,000 86 $170,000 14.7%
Reno-Donner Springs 141 49 $187,000 57 $165,000 13.3%
Reno-Northwest Suburban 121 104 $252,500 96 $222,944 13.3%
Reno-South Meadows 143 165 $291,000 138 $270,000 7.8%
Spanish Springs-West 184 54 $244,500 62 $229,000 6.8%
Sparks 180 80 $134,750 83 $126,500 6.5%
Reno-South Suburban 165 64 $525,000 66 $509,500 3.0%
Reno-Northwest Foothills 122 44 $359,975 50 $350,224 2.8%
Reno-North 119 68 $100,250 61 $111,000 -9.7%
Total 100 1331 $242,000 1300 $207,000 16.9%

Stead saw the largest increase in home prices in 2014 — with a 25 percent increase. Four MLS area’s experienced sale price increases that exceeded the 16.9 percent increase observed for the overall Reno and Sparks housing market. These areas included Reno-Stead (+25%); Reno-Old Southwest (+21.5%); Reno-Southwest (+19.8%); and Sparks-Suburban (+18.3%).

At the other end of the spectrum, Reno-North experienced a decrease in its median sold price — falling 9.7 percent in 2014.

To see the boundaries of a particular MLS area, use the interactive MLS Area map below.

Note: The median home price data reported above covers MLS areas throughout Reno, Nevada and Sparks, Nevada. Residential data includes Site/Stick Built properties and Condo/Townhouses. Data excludes Manufactured/Modular and Shared Ownership properties. Data courtesy of the Northern Nevada Regional MLS – March 2015. Note: This information is deemed reliable, but not guaranteed.

Related post: Which MLS areas of Reno and Sparks, Nevada saw the largest price increases in 2013?

For the data geeks, the table below includes all the data, unfiltered and unsorted.

MLS Area MLS Area # Number of Sold Listings – 2014 Q4 Median Sold Price – 2014 Q4 Number of Sold Listings – 2013 Q4 Median Sold Price – 2013 Q4 Q-o-Q % Change
Commercial/Industrial Core 115 1 $13,390 2 $12,250 9.3%
Reno-North 119 68 $100,250 61 $111,000 -9.7%
Reno-Old Northwest 120 82 $195,000 86 $170,000 14.7%
Reno-Northwest Suburban 121 104 $252,500 96 $222,944 13.3%
Reno-West Suburban 123 3 $295,000 4 $302,500 -2.5%
Verdi 124 2 $357,500 7 $450,000 -20.6%
Sun Valley 130 25 $185,000 37 $155,000 19.4%
Reno-North Valley 131 16 $154,500 19 $163,309 -5.4%
Reno-Golden Valley 132 23 $275,000 31 $235,000 17.0%
Reno-Lemmon Valley 133 25 $180,750 26 $171,500 5.4%
Reno-Stead 134 91 $175,000 97 $140,000 25.0%
Reno-Silver Knolls 135 7 $241,500 10 $234,850 2.8%
Reno-Cold Springs 136 47 $192,000 55 $165,900 15.7%
Reno-Red Rock 137 4 $293,500 5 $267,000 9.9%
Reno-Rancho Haven 138 1 $249,000 7 $265,000 -6.0%
Reno-Southeast 140 43 $73,900 48 $92,250 -19.9%
Reno-Donner Springs 141 49 $187,000 57 $165,000 13.3%
Reno-Hidden Valley 142 28 $321,250 24 $292,250 9.9%
Reno-South Meadows 143 165 $291,000 138 $270,000 7.8%
Reno-Old Southwest 160 64 $306,250 45 $252,000 21.5%
Reno-South Suburban 165 64 $525,000 66 $509,500 3.0%
Reno-Southwest Suburban 171 28 $775,000 26 $882,500 -12.2%
Reno-Foothills 173 12 $288,000 9 $265,000 8.7%
Pleasant Valley 174 2 $171,000 5 $345,000 -50.4%
West Washoe Valley 175 1 $426,000 3 $940,000 -54.7%
Virginia City Highlands 176 16 $217,000 5 $315,000 -31.1%
Washoe Valley 177 8 $257,450 10 $170,500 51.0%
Sparks 180 80 $134,750 83 $126,500 6.5%
Sparks-East 181 95 $192,000 114 $166,700 15.2%
Sparks-Suburban 182 102 $268,500 98 $227,000 18.3%
“Spanish Springs
-South” 183 118 $280,500 95 $244,000 15.0%
Spanish Springs-West 184 54 $244,500 62 $229,000 6.8%
Spanish Springs-East 185 25 $365,000 28 $352,045 3.7%
Palomino Valley 186 6 $315,000 3 $315,000 0.0%
East Truckee River 187 1 $165,000 4 $130,000 26.9%
Reno-West Southwest 161 28 $425,000 37 $350,500 21.3%
Reno-Southwest 163 104 $359,500 97 $300,000 19.8%
Reno-Old South Suburban 164 21 $485,000 25 $430,000 12.8%
Reno-Northwest Foothills 122 44 $359,975 50 $350,224 2.8%
Sparks-Foothills 188 20 $265,075 19 $218,000 21.6%
Reno-Downtown Core 116 23 $225,000 9 $127,900 75.9%
Total 100 1700 $242,000 1703 $207,000 16.9%
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About Guy Johnson

I am a licensed Nevada REALTOR® (lic.# S.0075262.LLC) living and working in fabulous Reno, Nevada. I cover Reno, Sparks, Incline Village, Carson City, and beyond. Give me a call at 775-722-4011 and I will be happy to assist you with your real estate needs. I'm your Guy!
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