Which zip codes in Reno and Sparks, Nevada saw the greatest price increase in 2015?

median sales price by zip codeThe table below shows the 2015 4th-quarter median sales prices for houses throughout the Reno and Sparks, Nevada metropolitan area, broken out by zip code. The table compares 2015 4th-quarter data to the same period from 2014. The zip codes are sorted by percent change in sales price, in descending order.

It should be noted, three of the zip codes had very few sales (single digits) during time periods reported. Therefore a meaningful conclusion regarding the percent change in median price cannot be drawn. For example, zip code 89501 had only one house sale in Q4 2014 and only three sales in Q4 2015; therefore the 98 percent increase in median sales price is not accurate.

I have denoted these three zip codes with an asterisk.

Regarding the other zip codes the one that came out on top is 89512 (north Reno) with a whopping 34 percent increase in median sales price — Q4 2015 compared to Q4 2014. This finding is consistent with the results seen when breaking out percent increase by MLS Area.

Coming in 2nd-place is zip code 89503 (northwest Reno) with a 23 percent increase.

This link will take readers to a map showing the zip code boundaries for Greater Reno-Sparks, Washoe County, Nevada – provided by the Center for Regional Studies.

Zip Code Area 2015 Q4 Sales 2015 Q4 Median Sold Price 2014 Q4 Sales 2014 Q4 Median Sold Price % Increase
89501* Reno (Downtown) 3 $575000 1 290,000 98.28%
89512 Reno (North) 30 $207,500 41 155,000 33.87%
89439* Verdi-Mogul 6 $455,000 2 357,500 27.27%
89503 Reno (NW) 71 $249,000 69 202,000 23.27%
89519 Reno (Caughlin Ranch) 36 $527,000 50 430,000 22.56%
89506 Reno (Stead, Lemmon Valley, Golden Valley) 129 $224,500 155 185,000 21.35%
89508 Cold Springs, Rancho Haven 53 $233,000 49 193,900 20.17%
89502 Reno (Hidden Valley, Donner Springs) 52 $232,450 66 200,000 16.23%
89521 Reno (Double Diamond, Damonte Ranch) 112 $340,000 176 293,900 15.69%
89431 Sparks 64 $196,000 79 170,000 15.29%
89704 Washoe Valley 16 $299,000 9 259,900 15.04%
89509 Reno (Old Southwest) 74 $390,000 111 340,000 14.71%
89436 Sparks (Spanish Springs, Wingfield Springs) 196 $308,000 236 270,000 14.07%
89434 Sparks (D’Andrea) 86 $240,000 74 213,450 12.44%
89433 Sparks (Sun Valley) 23 $210,000 24 187,450 12.03%
89511 Reno SW (ArrowCreek, Saddlehorn, Galena, Montreux, St. James) 75 $610,000 122 555,000 9.91%
89523 Reno (Somersett) 131 $315,000 135 290,000 8.62%
89441 West Spanish Springs 41 $334,000 60 312,000 7.05%
89510* Palomino Valley 4 $325,000 6 305,000 6.56%

* denotes less than ten sales for the quarter.

Related post: Reno and Sparks median sales price by zip code

Note: The median home price data reported above covers zip codes throughout Reno, Nevada and Sparks, Nevada. Residential data includes Site/Stick Built properties. Data excludes Condo/Townhouses, Manufactured/Modular and Shared Ownership properties. Data courtesy of the Northern Nevada Regional MLS – January 2016. Note: This information is deemed reliable, but not guaranteed.

Avatar

About Guy Johnson

I am a licensed Nevada REALTOR® (lic.# S.0075262) 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!
This entry was posted in Agent Insights, Market Trends, Neighborhoods and tagged , , . Bookmark the permalink.

One Response to Which zip codes in Reno and Sparks, Nevada saw the greatest price increase in 2015?

  1. Pingback: Washoe County Home Sales By Zip Code | Reno Real Estate Blog

Leave a Reply