Fifth-year anniversary of the peak

I was reminded recently that this month marks the fifth anniversary of the height of the Reno-Sparks housing market.  Five years ago the median sold price for houses in Reno-Sparks peaked at $360,500 (August, 2005).  Today’s median sold price of $180,000 is half of that.

Although all neighborhoods have declined since their peaks, some have been affected to a greater degree than others.  Prompted by a question from one of this blog’s regular readers concerning the market in the 89511 zip code, I choose to compare current-to-peak median sold prices by zip code.

As shown in the table below the 89512 zip code has suffered the greatest decline at nearly a two-thirds loss in median sold price.  At the other end the 89509 zip code has seen a relatively lower 38% decline.

zip code peak median units sold (peak month) peak month median (last 30 days) % decline units sold (last 30 days)
89431 $270,000 43 Aug 2005 $106,250 60.6% 28
89434 $311,250 40 Aug 2005 $150,000 51.8% 31
89436 $393,740 95 Aug 2005 $204,750 48.0% 56
89441 n/a  n/a n/a $207,500 n/a 16
89502 $337,000 38 Jul 2005 $117,000 65.3% 19
89503 $325,000 31 Sep 2005 $150,000 53.8% 23
89506 $300,000 113 Jun 2005 $130,000 56.7% 53
89509 $520,000 58 Oct 2005 $324,000 37.7% 19
89511 $755,000 64 Jul 2005 $393,500 47.9% 33
89512 $294,950 10 Aug 2005 $101,500 65.6% 5
89519 n/a  n/a n/a $450,000 n/a 9
89521 $443,000 41 Oct 2005 $227,000 48.8% 33
89523 $416,900 37 Oct 2005 $231,500 44.5% 38
Reno-Sparks $360,500 582 Aug 2005 $180,000 50.1% 362

Note: The info in the table above includes Site/Stick Built properties only. Data excludes Condo/Townhouse, Manufactured/Modular and Shared Ownership properties. Data courtesy of the Northern Nevada Regional MLS – August 2010.  This information is deemed reliable, but not guaranteed.

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About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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52 Responses to Fifth-year anniversary of the peak

  1. Avatar MikeZ says:

    skeptical, thank you for the kind words and for the link to the Case-Shiller data.

    Now, to Case-Shiller … CS says Las Vegas is down 6.5% YoY (May). I accept that … but I note that LV median home price is down 3.6% [1] for the same period.

    As you can see, the market that you think is the closest to Reno, reflects its falling home values in a falling median home price.

    [1] http://tinyurl.com/2eg3eva

  2. Avatar skeptical says:

    MikeZ,
    Good point on Median Price differential btw Reno and LV.

    The debate continues….

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