It has turned fall here in our High Desert, Semi-Rural Village in Washoe County, Nevada. That means it’s budget and election season for ArrowCreek. Our ‘village’ was designed over 3,172 acres to have 1,083 residences, with a small residents’ center to include a 7/11 type store, real estate office, equestrian center and an independent, PRIVATE Golf Course as commercial businesses (A.K.A. the Non-Residential Area as documented in the Articles of Incorporation, the Covenants, Conditions and Restrictions (CC&Rs) and By-Laws). The 7/11 type store, real estate office and equestrian center were dropped from plans many, many years ago, along with proposals for alternative entry and exit points to Zolezzi and Alpine Road. Participation in the private club (i.e., Residents/Owners of our community do not have a financial interest nor obligation to ‘The Club,’ which is not true for all Associations) is purely optional for interested and “approved” parties. Sociologically, ‘The Club’ forms its own community focal point within our broader HOA community.

The origins of this report were based on a heated discussion of the value of homes extracted from the Washoe County’s Assessors office. In point of ‘fact,’ homes adjacent to the golf course are currently showing a 13.8% advantage to those not adjacent to the course. This ‘advantage’ should be taken with a grain of salt as only thirteen (13) homes in this category have been sold in the past 12 months and the details of this ‘difference’ are presented in the following paragraphs and data. It is worth noting that the low sales rate of golf course related homes has contributed to an inordinate perception of the net worth of these homes.

The ArrowCreek community, like so many small communities in Nevada, is financially diverse having been created that way by the designer of the community and Washoe County planners in 1997. It currently consists of 506 Semi-Custom homes, typically for middle and upper middle-income individuals, and 577 Custom home sites (all started out as vacant lots and currently, due to some consolidations, has shrunk to 574), typically for upper middle and high net worth individuals, of which 512 custom homes have been or are being built. Approximately one third of all the lots, both custom and semi-custom, are directly adjacent to the golf course (~361). This report contains the data that was available on October 31, 2025, from the Washoe County Assessor’s Records. These records appear to be a few weeks late, perhaps due to lack of sales or awaiting bulk data uploads.

Interest rates are holding steady and inflation is increasing, so we should expect home sales to slow – but they haven’t yet. Unfortunately, we are still absorbing tariff impacts. Our data appears to be in agreement with national publications and local real estate and banking professionals. For the first time in two years, sales have increased, albeit barely, for nine consecutive months. Homes that sold for more than $1 million shot up 37% compared with the same months a year ago. However, home price growth has slowed and in fact, as you may have read elsewhere, declined over the past four to eight months. Our ArrowCreek year-over-year price change is an astounding 9.2%. An article from Kiplinger has forecast single family homes will increase only 4% during 2025. We will see. ‘Raw’ property in our ArrowCreek community continues to run in the range of $464,000 to $480,000 per acre.

Since November of 2024 and over the past twelve (12) months:

1. Custom ArrowCreek homes appear to have established a ‘selling floor’ of $530 per square-foot and Semi-Custom homes a similar ‘selling floor’ of $480 per square-foot to grow from. With eight fully financed properties changing hands this past month, no one neighborhood was the most active.

On with THE FACTS:

a.) Eight (8) properties were recorded sold in ArrowCreek between 23 September 2025 and 20 October 2025 (per the Washoe County Assessor). This brings the total number of properties transferred over the past rolling year to 63 or 5.8% turnover rate for our community. From a National Publication (TheHill.com), this compares to the fact that only 8.4% of Americans live in a different home than they did a year ago and in Washoe County the number is 18.4% based upon the most recent census data. The aging of the U.S. population, a lack of new housing, and increased caution have produced the lowest rate of mobility recorded at any time since 1948. ArrowCreek continues to have a very low turnover rate which may be attributed to a general satisfaction with living in our gated community. In fact, 129 (12%) of us have lived or owned property in ArrowCreek for more than twenty years.

b.) Two (2) homes and one vacant property were recorded sold on the golf course (where the property boundaries actually touch the golf course property, not just have a ‘view’ of it) during this reporting period. We use a 12-month rolling average to normalize home and land prices. The rolling average selling price for homes on the golf course, a very suspicious number, decreased to $569.08 per square foot. The 12-month rolling average sales price decreased to $2,331,921.08. One additional parcels was sold bordering the golf course. Currently, vacant parcels can be valued at $464,035.47 per acre.

c.) Four (4) homes and one (1) additional lot were recorded sold that are not connected to the golf course. The rolling average selling price for off-course homes decreased to $491.83 per square foot, which is down by $7.42 per square foot, based on a sample size of 38 homes.  The twelve-month rolling average sales price for non-golf course homes decreased to $1,927,342.11 from the month ago value of $1,931,384.62. One (1) vacant lot was sold this past month, making the rolling 12-month average selling price for vacant land, not on the golf course, $479,855.16 per acre. This value is based upon 10 properties sold over the past year.

d.) The figure below shows the ArrowCreek value trends over the past twelve months with the vertical scale being the cost per square foot. Although only a small number (13) of homes adjacent to the golf course have been sold at this elevated average price, it clearly distorts the picture (DARK BLUE line). Additionally, it was noted that five years ago the nominal price per square foot was on the order of $200 as opposed to where they are today. With the minimal sales on the golf course properties, a couple of thoughts come to mind. First, people are extremely happy here and don’t need or want to move on; for example, currently 681 of us have lived in ArrowCreek for more than 5 years. Second, they may have had a dream of ‘making it,’ and a symbol of ‘arriving’ is the nice home on a golf course. In any case, homes are still being sold, just in much smaller volumes.

2. With the arrival of fall and inflation increasing, our housing market should continue to be alive. For those desiring a secure, safe environment with majestic views to raise a family, with abundant recreational opportunities, excellent schools, shopping, medical services and peace of mind, ArrowCreek should not be overlooked. Yes, we are higher priced, but we are worth it!

Do keep in mind that everyone’s selling price is based upon his or her own set of circumstances and the above picture/figure is hindsight, not necessarily foresight. In point of fact, it is distorted due to the lack of sales of golf course homes. A balanced marketing approach, for our community, focused on our amenities and relatively low governmental fees (ACHOA dues) should go a long way toward creating a better environment for all homeowners and buyers.

Continuing with the commentary from previous months: the author received queries about Semi-Custom and Custom homes both on and off the golf course and their relative selling prices with respect to those found in Reno and Sparks. The following chart portrays the trend lines for Custom and Semi-Custom homes within this broader community. From the chart below it is pretty clear that home values across the Truckee Meadows have been rising over the past twelve months.It is also apparent that Custom homes in the broader Reno Custom Home market are now ’on-par’ with ArrowCreek Custom homes and Semi-Custom homes on the golf course. Custom homes adjacent to the golf course have exhibited a steady increase in cost per square foot since November 2024. This appears to be partially explainable by the fact that only a few, nine, properties have been transferred over the period from October to today. Custom homes not on the golf course appear to be a better value. Also, ArrowCreek Semi-Custom homes are exhibiting about a 19.4% difference between those on the golf course and those not on the course. All of our values are absolutely competitive with the rest of Washoe Valley.

ArrowCreek homes have no real comparison to values in the Sparks market, this includes the  D’Andrea community. As such we’ve dropped coverage of the Sparks market.

For the past month the ArrowCreek rolling averages are:

• Semi-Custom On-Course: $549.55 per Square Foot (**only 4 properties)
• Semi-Custom Off-Course: $452.34 per Square Foot (19 properties)
• Custom On-Course: $577.75 per Square Foot (**only 9 properties)
• Custom Off-Course: $531.31 per Square Foot (19 properties)

• • We also received a request from one of our readers for a comparison of the ArrowCreek values with those in D’Andrea (Sparks market), Somersett (Reno market) and Saddlehorn. Having obtained the appropriate reports from the real estate community, here is what was learned. (Data extracted from altosresearch.com Chase International)

• • • Reno market ‘in general’ – Custom homes in Reno are selling, on average, for $567.81 per square foot (Median price $2,210,000). The average days on the market was 119 days. Reno homes comparable to ArrowCreek Semi-Custom homes are selling, on average, for $392.89 per square foot (Median price $949,999) with a time-on-market of 84 days. ArrowCreek Semi-Custom homes exhibited a time on market of 162 days. Median prices rose across the Reno market by 7.4% during the comparable past year, as you can see from the chart, while ArrowCreek combined average, validated prices for all home types increased by about 12.3%.

• • • Sparks market ‘in general’ – This market remains non-comparable to ArrowCreek but it is shown in the chart for completeness.

Commentary: ArrowCreek Custom homes continue to be in the top two quartiles of the Washoe Valley real estate market and are now market leaders. Semi-Custom homes continue to be in the top quartile of the same market and exhibit some of the same characteristics as Custom homes.

Some owners of ArrowCreek believe they reside in a ‘golf community’ and that’s fine. In fact, they reside in a small ‘village/HOA’ with governmental-like services. So the words of being a golf community appear to emanate from those who have chosen to belong to the ‘private’ golf club and that’s fine, too. In their minds, it may be true; however, in fact, the truth is that only a third of the homes and lots are on the golf course and approximately 39% of all owners are actually members of ‘The Club.’ Yes, we have a private golf club within our gated community that is not an HOA amenity, but we also enjoy the freedom to belong or not.

The ‘value proposition’ for our unique community should continue to focus on attracting professionals who value security, views, recreational opportunities, good schools, near-by shopping/entertainment, excellent medical services, and the quietude of the High Desert. Realtors will continue to show prospective new Nevadans lower priced housing options but in the end people who value our advantages will settle in ArrowCreek. People will come to ownership in ArrowCreek as Nevada businesses gather top talent with competitive salaries.

Please consider contributing your knowledge and energy to make our HOA better for all owners and residents by participating in a committee or running for the Board of Directors.

By Ron Duncan

November 13, 2025

For previous postings of the ArrowCreek property value updates: click here.