Reno/Sparks Real Estate Report by area (Las Vegas, Carson City: sale, condo)

[NevadaRE]

Hi NVBound,

I posted a new thread that includes real estate info for Carson City and Douglas County (excluding Tahoe) areas. I've been planning to do that someday...so today is the day!

Link:

Carson City/Gardnerville-Minden-Genoa/Dayton Real Estate Report by area

[NVBound]

Excellent job! Thank you so much. This is valuable information I will use in my quest to relocate.

[NevadaRE]

Again, 6 months later, I broke down the median price and some other stats by area for Reno and Sparks.

The median percentage asking price was 99.4%.

Column headers*
Area...........median price / # sales / # sales in range $200k - 250k / median acreage / median year built / median square ft

All Reno/Sparks....................$295,000 1024 205 0.17 1997 1826
There were 1024 sales in the 60 day period I recently pulled and 205 of those sales were in the $200k-$250k price range. The median sale price was $295,000, median lot size of sold homes was 0.17 acre, median year built 1997, and median house size was 1826 square feet.

Here's a more detailed look by area. (There are map links below that define the areas.)

areas with 10+ sales
Reno-North...........................164,000 24 3 0.14 1974 1332
Reno-Southeast.....................172,500 12 3 0.18 1954 1090
Sparks.................................192,000 53 16 0.15 1960 1269
Reno-Stead...........................210,000 61 29 0.15 2000 1397
Sun Valley............................221,000 19 15 0.22 1996 1265
Reno-North Valley..................225,000 11 8 0.18 1979 1342
Reno-Cold Springs..................227,475 36 23 0.18 2002 1660
Reno-Lemmon Valley..............235,000 17 10 0.39 1995 1413
Reno-Old Northwest................246,000 41 19 0.15 1964 1420
Sparks-East..........................250,000 79 34 0.16 1977 1784
Reno-Donner Springs..............260,000 29 10 0.15 1979 1724
Sparks-Foothills.....................286,000 12 1 0.13 2002 1777
Spanish Springs-West.............300,000 46 3 0.36 2002 1775
Reno-Northwest Suburban........303,000 62 6 0.18 1994 1728
Reno-Golden Valley.................306,750 19 1 0.22 2006 1930
Reno-Old South Suburban........309,250 14 2 0.34 1977 1811
Sparks-Suburban....................315,000 74 5 0.17 2004 1932
Spanish Springs-South............328,750 72 5 0.17 2006 2141
Reno-Old Southwest...............337,500 30 1 0.16 1952 1523
Reno-South Meadows..............360,000 100 3 0.14 2006 2078
Reno-Hidden Valley.................365,000 17 3 0.36 1991 2243
Reno-Northwest Foothills.........370,750 26 0 0.15 2006 2241
Reno-Southwest.....................422,500 48 1 0.25 1986 2441
Reno-West Southwest..............437,450 18 0 0.15 1996 2237
Spanish Springs-East..............445,000 11 0 1.17 1996 2502
Reno-South Suburban..............540,000 29 0 0.53 2000 2837
Reno-Southwest Suburban........855,000 13 0 1.00 1997 3482

areas with <10 sales
Reno-Red Rock.......................145,000 1 0 10.60 1996 1232
East Truckee River..................147,500 3 0 0.17 1996 1296
Reno-Rancho Haven................290,000 5 0 10.95 1995 1643
Virginia City Highlands.............295,000 7 2 1.58 1991 2494
Washoe Valley........................297,450 7 2 0.98 1978 1592
Reno-Silver Knolls...................317,450 4 0 1.68 1973 2093
Reno-Foothills........................331,500 8 0 0.52 1979 1890
Palomino Valley......................371,047 3 0 5.01 2015 2658
Reno-West Suburban...............375,000 3 0 0.43 1987 2264
Verdi....................................444,000 4 0 0.45 1997 2580
Pleasant Valley.......................483,500 4 0 1.17 1978 2191
West Washoe Valley................580,000 2 0 8.21 1982 2944

Maps
Reno Areas Map
Sparks Areas Map
Washoe Valley & Virginia City Highlands Map

Distribution of Sales Price - All Reno/Sparks
Price Bracket ................... #of Sales
[$0 , $100,000 )......................4
[$100,000 , $200,000 )..........108
[$200,000 , $300,000 ) .........427
[$300,000 , $400,000 )..........301
[$400,000 , $500,000 )...........94
[$500,000 , $600,000 )...........41
[$600,000 , $700,000 )...........16
[$700,000 , $800,000 )...........11
[$800,000 , $900,000 )............7
[$900,000 , $1,000,000)..........3
$1,000,000+........................12

*Data tallied on 4/21/16
Last 60 day report - Site/stick built homes (excludes condos and manufactured).
Source Northern Nevada Regional MLS. Information deemed reliable but not guaranteed.

[Mia775]

A publicly shared spreadsheet might work better for your data presentation but other than that, this is still quite interesting to see. Does the MLS have historical trends? Will these prices just keep rising or are they pretty much plateauing? And more importantly, are the houses actually appraising for what the sellers want or do they just sell without much contingency because of cash buyers?

[braindead0]

Interesting, I'm in the Old Northwest.. walk the neighborhood 5 days a week. Lots of for sale signs, a few seem to have sold but IMO the market in this area has cooled off somewhat. However that's just my observation.

[NevadaRE]

Mia 775,

Right now 20% (of site/stick built homes) are cash. The appraisers take the increasing price climate into account when they do an appraisal. Not all homes will appraise for the contract price, but the data I displayed uses the final sales price whether that be above, below, or equal to the appraisal.

Yes, the MLS has historical trends. Looks like I can get info from 1995-present, so PM me if you want to know something specific.

I don't know what the future holds, but I can tell you we've been in a rising trend from late 2011 to present.

braindead0,

Sampling today...70% of the current (site/stick built) listings in Old NW are pending.

[nowhereman427]

Originally Posted by braindead0

Interesting, I'm in the Old Northwest.. walk the neighborhood 5 days a week. Lots of for sale signs, a few seem to have sold but IMO the market in this area has cooled off somewhat. However that's just my observation.

I hope it isn't getting like California there where everyone is moving in or if you have tons of californians moving in.

[NVBound]

Another helpful analysis NevadaRE.

Would you be kind enough to update this same data along with maps for Carson City and Douglas County neighborhoods?

Thank you!

[2sleepy]

Originally Posted by nowhereman427

I hope it isn't getting like California there where everyone is moving in or if you have tons of californians moving in.

Californian's have been moving to Nevada for decades, particularly retirees.

[RFF]

Sell home in california for boatloads of cash. Buy a home here for 275-400k with cash.