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 # |
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% |
