Reno-Tahoe Real Estate Trends - September, 2011
After reviewing market activity for sales volume and prices for August, 2011, all markets (Tahoe excluded) are following the same trend - sales volume is markedly up from one year ago and median price is consistently down from one year ago. In a simple world, the increase in sales volume would begin to impact inventory and prices would stabilize and eventually begin to rise. Due to the high volume of distressed homes being sold (most markets in the 50-70% range of total sales), and a steady stream of new foreclosure and short sale listings, median price continues to be under downward pressure. Below is a short summary by market. Full details are in The Greater Reno-Tahoe Real Estate Report.