Many comments have been posted in the thread following the Market Condition Report – February 2010 concerning how the Reno Sparks housing market actually consists of two markets, or strata. The general consensus among the commenters seems to be that Reno-Sparks is comprised of a under-$200,000 market and a mid-to-upper market that has been defined many ways, but for the purpose of this post, let’s say greater than $300,000.
Concerning the over-$300,000 strata, debates have ensued on: whether this market has bottomed; is it dead?; are prices rising?; is value within increasing?; etc. In an effort to shed a little more light on this subject I have pulled the following sales data from the last twelve months for sales over $300,000.
Would love to hear your analysis of these numbers.
|month year||# of sales||median sold $/sq.ft.||median square footage||median sold price||average DOM|
Note: The medians table above is updated on a monthly basis. The median home price data reported covers the cities of Reno, Nevada and Sparks, Nevada [NNRMLS Area #100]. Residential data includes Site/Stick Built properties only. Data excludes Condo/Townhouse, Manufactured/Modular and Shared Ownership properties. Data courtesy of the Northern Nevada Regional MLS – March 2010. Note: This information is deemed reliable, but not guaranteed.