We have all watched as our market continued to go down but the comparison reports below allows you to actually see the results of one year in the down market. The short sales closings have increased our resale’s but with a noticeable decline in actual dollar volume. Vacant land is not even being looked at by prospective buyers at this time and the condo market continues to be stagnating.
Information provided by Jud Klinger of Datasource (www.datasourcenev.com).
Martin
It sure is nice of Mr. Klinger to provide these charts. But any regular reader of this blog has known for the last several months that:
1. Prices are way down YoY.
2. The great majority of sales now are either REO or short sales.
3. REO and short sales have served to increase sales volume, but dollar volume is dropping and so is the median price.
4. Condos have a median sales price of about $79,000 in Reno/Sparks, except for the Montage, which has become the Looking Glass where nobody, from Alice to the Mad Hatter, the White Rabbit, or the Ugly Duchess has any idea of what the hell is going on.