Last week I published a blog post reporting 2018’s home sales broken out by zip code — see 2018 Washoe County home sales by zip code. It’s a popular topic on this blog, and one I address annually.
Another method of breaking out home sales is to do so by MLS (multiple listing service) area. Our local MLS, the Northern Nevada Regional MLS, defines distinct MLS areas as a way of referencing property listings. These map-based MLS areas provide a greater degree of detail than that of the larger areas defined by zip codes.
For example, whereas less than 20 zip codes cover the Reno-Sparks metro area, there are more than 40 MLS areas that have been defined for it. You may see a list of these MLS areas here. [Note: to see the boundaries of a particular MLS area, use the interactive MLS Area map at the bottom of this post.]
The table below shows 2018 residential home sales for Reno and Sparks broken out by MLS Area. The sales reflected in the table below include “Site/Stick Built” and “Condo/Townhouse” properties. Data excludes Manufactured/Modular and Shared Ownership properties. The table is interactive and may be sorted on any column header.
Let’s look at the MLS areas along different categories…
Top-5 MLS Areas with the Highest Median Sales Price in 2018
Reno’s Southwest Suburban MLS area again takes the top spot with a median sales price of $965,000 for its 2018 sales. This is not surprising considering that communities such as Montreux, St. James’s Village and Galena Forest lie inside the Southwest Suburban MLS area.
As a point of reference, the median sales price for all home sales in the Reno/Sparks area in 2018 was $352,500.
Top-5 MLS Areas with the Lowest Median Sales Price in 2018
Reno’s Southeast MLS area again takes the spot for the lowest median sales price. This is driven by the unusually high proportion of condos for the area. 53 percent of 2018 sales in the Southeast MLS area were “condo/townhouse” sales. Compare that percentage to the ~16 percent of sales for the entire Reno/Sparks area being condo/townhouse sales.
Top-5 MLS Areas with the Greatest Y-o-Y Increase in Median Sales Price
Reno’s Old South Suburban MLS area takes the top spot for greatest increase in the median sales price. In 2017 the median sales price for the 102 sales that year was $422,400. In 2018, the 90 homes sold exhibited a median sales price of $614,500 — for an increase of more than 45 percent.
As a point of reference, the increase in the median sales price for all home sales in the Reno/Sparks area in 2018 was 10.5 percent. Home prices in Reno’s Old South Suburban MLS area grew at four times that rate in 2018.
Top-5 MLS Areas with the Most Number of Homes Sold in 2018
7,087 houses and condos sold in the Reno/Sparks area in 2018. Reno’s South Meadows area accounted for nearly 10 percent of that total. With 696 homes sold for the year, the South Meadows area (home to Double Diamond, Damonte Ranch, and Curti Ranch) again takes the top spot for highest number of home sales.
Top-5 MLS Areas with the Greatest Y-o-Y Increase in Number of Homes Sold
Overall, the total number of home sales in the Reno/Sparks area dropped in 2018 — falling 11 percent from 2017’s total sales. However, a few areas bucked the trend. Notably, West Washoe Valley’s 2018 home sales doubled 2017’s number. Verdi came in at the 2nd spot with a 60 percent increase in its number of home sales in 2018.
To see the boundaries of a particular MLS area, use this interactive MLS Area map. You may zoom into a particular area and then click on the area to see its name and number.
As always, I welcome your comments/questions below. And if you’re interested in seeing the current listings for a particular area, just let me know — Guy Johnson 775-722-4011.
Note: The home sale data reported above covers the cities of Reno, Nevada and Sparks, Nevada [NNRMLS Area #100]. Residential data includes “Site/Stick Built” and “Condo/Townhouse” properties. Data excludes Manufactured/Modular and Shared Ownership properties. Data courtesy of the Northern Nevada Regional MLS – January 20, 2018. Note: This information is deemed reliable, but not guaranteed.
