Yesterday the Builders Association of Northern Nevada held their Mid-year Analysis event. The Reno Gazette-Journal was there and wrote this informative recap of the numbers presented: Real estate demand steady in Northern Nevada
Some of the data that I found particularly of interest included the median home price in our region broken out by age groups. I have not seen the home sales price data broken out this way before. Thought I’d share…
| Age Group | Median Sales Price |
| 32 and younger | $165,000 |
| 33-47 | $235,000 |
| 48-57 | $200,000 |
| 58-66 | $185,000 |
| 67-87 | $168,000 |
| 88 and older | $191,000 |
Lynne B Reno
I just sold my house after it being listed for 2 days, cash offer above asking price- it just doesn't get better than that, much love to my agent Bobbi McKinnon
Guy Johnson
Congratulations on the quick sale of your house, Lynne B.
Ben
Smarten, you wrote, “IMO, the only “more” one gets for his/her money in Montreux [compared to somewhere like Incline Village] is saqure footage and monthly HOA dues”This is completely wrong. If you buy right in Montruex for say around $300 per sq foot, you can get super premium construction that blows away the “Tahoe mountain style construction” you refer to for $261 per sq foot. (a “mind boggling” low per sq ft price, as you called it.) $300 in Montreux buys you 16 inch cement core, stone covered walls with an R49 insulation rating, extensive mature landscaping, built in outdoor BBQ, fridge, fire pit etc., 3-4 car 1500 sq ft garage, premium Italian sold bronze fixtures, top of the line Bosch appliances, smart wiring throughout the house with integrated security, stereo, lighting etc. I could go on and on. IV houses in this price range don’t even come close in quality. But you wouldn’t know because you never come on down to Montreux. With regards to BB’s ongoing blanket assertion that anyone buying today in the Reno super premium market is buying at bubble prices, BB, I ask you this. If you are buying at or below today’s replacement cost, and keep in mind that it’s a lot cheaper to build a house now than 2-3 years ago the peak of the bubble, how are you in any way buying at a bubble influenced price? BB, you seem to automatically conclude, without even reviewing sales history, as in the case of Lausanne, that anyone paying 1 mil and up in today’s market is a fool buying into the bubble, getting ripped off solely because they are buying a million plus house in Reno. What if they are buying below cost? How can that not be a good deal? Sure, maybe the deals will get a little better than cost, but not much, as we have seen with YTD sales in both IV and Montreux. There are people with money, waiting in the wings to buy at these levels. At or below cost, the high end in these two markets moves, and rightly so. BB, your same old unsubstantiated Bantering BS is getting old.