The entry level luxury market, those homes in the just-over-a-million-dollar price range, have not been performing so well nationally. Prices fell in the fourth quarter of 2006, in some places by over 7%. read
Reno-Sparks, by comparison, actually seems to be holding steady. In the fourth quarter of 2006, we had 31 sales totaling over $40 million with an average price of $1.297 million. Compare this to the fourth quarter of 2005, with 30 sales totaling almost $42 million at an average $1.384 million. With the total volume up 3% and the average price down by 3%, it’s kind of a wash.
