Peak to Trough Summary - Reno-Tahoe Area Home Prices
I get asked by folks on a regular basis "How far have home prices come down since the peak?" and similar questions.
The table below will show you each local city, it's peak median price and recent low (trough). To see a trend of how these prices are moving, you should subscribe to The Greater Reno-Tahoe Real Estate Report.
All prices below are in Thousands and are the Median Price (single family homes only) for that month.
Peak to Trough - Median Home Price
|Reno||$ 379||August, 2005||$ 221||November, 2008||42%|
|Sparks||$ 346||Sep, 2005||$ 210||December, 2008||39%|
|Caron City||$ 346||August, 2005||$ 224||October, 2008||35%|
|Carson Valley||$ 432||Sep, 2005||$ 244||November, 2008||44%|
|Fernley||$ 262||May, 2006||$ 140||December, 2008||47%|
|Datyon||$ 305||July, 2006||$ 165||December, 2008||46%|
If you are wondering when the "bottom will hit", the answer is not a "one size fits all" answer. I will be posting up an analysis of "Months of Inventory" by a few local cities and by price range of homes to illustrate the different market segments and how near or far they are from reaching a bottom. It is likely that the <$250K priced market segment will bottom out this year. Above that - all bets are OFF!
Broker - CalNeva Realty