During this morning’s sales meeting, our broker distributed a list of the top-selling (by units) MLS areas. The numbers below represent year-to-date totals…from an area-wide total of 3,682 units sold since January 1, 2010.
Not surprisingly, Stead, where the YTD median sold price of $115,000 is well below the Reno-Sparks median of $180,000, tops the list with the most units sold.
| Top 5 MLS areas | Units Sold | Volume Sold | Median Sold Price | Closed Short Sales | Short Sale Volume |
|---|---|---|---|---|---|
| 1) 134 – Stead | 297 | $32,202,927 | $115,000 | 139 – 47% | $15,023,095 |
| 2) 183 – South Spanish Springs | 294 | $68,119,820 | $212,000 | 109 – 37% | $22,283,526 |
| 3) 143 – South Meadows | 249 | $61,657,383 | $234,900 | 104 – 42% | $24,296,323 |
| 4) 182 – Sparks Suburban | 245 | $48,480,585 | $189,000 | 116 – 47% | $22,363,661 |
| 5) 121 – Northwest Suburban | 244 | $52,344,119 | $205,000 | 91 – 37% | $19,300,700 |
note: Year-to-Date data (January 1, 2010 – September 14, 2010)
Sam D.
This is amazing, I could never imagine such things.
Norton
Is there a part of this chart missing?
Sully
Guy, with the exception of Stead, would you say the popularity of the areas was because of the age of the unit. My guess is most of these houses were under 10 years old.
smarten
Thanks Guy –
I’m sure it’s my lack of mathematical skills, but I don’t see how these numbers support a median sales price of $180K [the median should be even higher]. I added up the sales volume and divided by the number of sales and came up with an average sales price of $197,746. I understand, this is not a median sales price.
I then added up the number of sales in Stead and Sparks and came up with 542. Given 665 represents the median number of sales, it would appear that we’d have to throw in slightly more than half the sales in Northwest Suburban [where the median sales price was $205K].
This tells me the median sales price for all areas should have been over $205K unless some of the sales in Stead and Sparks were in excess of $205K. I guess that’s possible [although pretty unlikely in Sparks], but I’m wondering if there were enough to push down Northwest Suburban’s median sales price of $205K?
Now maybe Guy’s data encompasses other areas which could have pushed down the median sales price below $205K [1.329 unit sales doesn’t seem like a large enough number given Guy’s day for Year-to-Date]? I just don’t know.
Where am I wrong Guy [or anyone else for that matter]?
Guy Johnson
smarten,
I’ll have to check with my broker to see what were his search criteria.
John Newell
Smarten,
If I am reading Guy’s post and the chart correctly, $180k is the YTD median for the entire Reno-Sparks market, and the five MLS areas represented in the chart are just the highest selling MLS areas. Based on the YTD total sales volume of 3,682 units, the five areas included in the chart (1,329 unit sales) account for 36.1% of total unit sales YTD in the Reno-Sparks market. The other 30 (or is it 29?) MLS areas in the Reno-Sparks market account for the remainder of the YTD unit sales (see the MLS area map Guy posted in 2007: https://renorealtyblog.wpengine.com/2007/07/reno-sparks-mls-area-map.html).
lurker
C’mon John. You know the median MUST be higher.
Any little scrap of data whatsoever to show how STABLE and HEALTHY the market is will be trumpeted to the high heavens by our little Vice Count in IV.
Any moron could see that the data helpfully presented by Guy was an incomplete snapshot of the total picture. Yet, our little buddy smarten found a way to warp it into his biased world.
And he calls everyone else biased. Humphh!
Sleezy
It’s the TOP selling areas on the MLS not all the areas!
It helps if you read the title! LoL
Sully
smarten, FYI median for whole county year to date Aug 31 was 185K – average sale was 260K. 4052 SFR sales.