In Reno-Sparks, compared to this time last year: median home prices are down; sales volume is down; and number of homes (units) sold is down. However, this is not the case everywhere in Reno-Sparks. In fact, drilling down to the individual MLS areas, we observe that some areas have actually experienced growth as compared to last year. [and, no, I’m not drinking the Kool-aid.] Let’s take a closer look.
Whereas the bulk of the 40+ MLS areas that comprise the entire Reno-Sparks area have experienced lower median prices and sales (in both units sold and $ volume) as compared to last year, a few areas have bucked the trend.
Reno-Sparks area-wide YTD Median Sales Price is off 10.4% (YTD 2007 vs. YTD 2006). But look at the % change in YTD median sales prices of these three MLS areas:
| MLS # | Area | ? |
| 175 | West Washoe Valley | +48.3% |
| 171 | Reno-Southwest Suburban | +46.7% |
| 176 | Virginia City Highlands | +10.5% |
Reno-Sparks area-wide YTD Unit Volume is off 16.6% (YTD 2007 vs. YTD 2006). That’s 16.6% less number of homes sold this year compared to last year at this time. But look at these eight MLS areas:
| MLS # | Area | ? |
| 131 | Reno-North Valley | +28.0% |
| 176 | Virginia City Highlands | +27.3% |
| 183 | Spanish Springs-South | +25.3% |
| 175 | West Washoe Valley | +25.0% |
| 185 | Spanish Springs-East | +17.7% |
| 171 | Reno-Southwest Suburban | +16.7% |
| 133 | Reno-Lemmon Valley | +13.3% |
| 142 | Reno-Hidden Valley | +3.3% |
Reno-Sparks area-wide YTD $ Volume is off 21.7% (YTD 2007 vs. YTD 2006). That’s 21.7% lower sales dollar volume this year compared to last year at this time. But look at these seven MLS areas:
| MLS # | Area | ? |
| 175 | West Washoe Valley | +107.6% |
| 176 | Virginia City Highlands | +36.5% |
| 171 | Reno-Southwest Suburban | +33.9% |
| 131 | Reno-North Valley | +15.9% |
| 185 | Spanish Springs-East | +9.4% |
| 183 | Spanish Springs-South | +6.9% |
| 133 | Reno-Lemmon Valley | +4.0% |
Data courtesy of the Northern Nevada Region MLS – July 2007.
Reno Ignoramus
Thanks Guy for the info. However, this info would be a lot more meaningful if we had the actual number of transactions for the areas you describe. For example, exactly how many transactions have occured in West Washoe Valley in 2007 compared to 2006, and how do the numbers compare on the measures you describe?
For example, to only know that dollar volume is up 36% in VC Highlands from 2007 to 2006, by itself, is not very meaningful. That could be accounted for by just one single transaction.
homepop
Hi Guy,
What are the boundaries of Southwest Suburban, area 171? This was not on the map you provided several days ago.
Thanks!