Home Values

89503 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$193,000

  • 15.8% 1-year change
  • 6.1% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Hot

Buyers' Market
Sellers' Market

The median home value in 89503 is $193,000. 89503 home values have gone up 15.8% over the past year and Zillow predicts they will rise 6.1% within the next year. The median list price per square foot in 89503 is $128, which is lower than the Reno average of $152. The median price of homes currently listed in 89503 is $199,900 while the median price of homes that sold is $195,825.

Foreclosures will be a factor impacting home values in the next several years. In 89503 4.1 homes are foreclosed (per 10,000). This is greater than the Reno value of 3.7 and also greater than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 89503 is 5.8%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 89503 homeowners underwater on their mortgage is 23.6%, which is higher than Reno at 20.3%.

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Relative ZHVI
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89503 Market Overview

Data through Jan 31, 2015
  • $193,000 ZHVI
  • 6.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jan 31, 2016)
  • $199,900 Median listing price
  • $195,825 Median sale price
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89503 Market Health

Data through Jan 31, 2015
  • 8.4/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Dec 31, 2014)
  • No data Average days on Zillow
  • 23.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 5.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

4.1 homes 89503
3.7 homes Reno
4 homes United States
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Nearby Zip Codes

Name Median ZHVI
89519 $435,900
89509 $309,900
89433 $177,000
Name Median ZHVI
89431 $152,300
89512 $121,100
 

Listings & Sales

Data through Jan 31, 2015
  • $128 Median list price / sq ft
  • $128 Median sale price / sq ft
  • No data Listings with price cut
19.2%
Sold below listing
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89503 Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $1,241 89503
    $1,354 Reno
    $1,350 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $0.85 Rent list price / sq ft
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