Reno Real Estate Blog will be releasing their monthly median statics in a day or so. What’s your gut? FYI, the median dropped 1.75 between September and October 2015.
Prices at the Smithridge Condos are something I track closely – it is an important market indicator for me. They ballooned to $225+ in the bubble before falling back to $70K. They have been inching towards $140K for the last couple of months, but no one has breached that barrier yet. I feel good about that.
I just feel uneasy about the market right now. The builders aren’t building, and the only reasonable deals I see out there are properties that have gone through at least 1 foreclosure (and I’ve even got a triple!). None of the Ladies Who Lunch at Napa Sonoma are comparing their portfolios any more.
Montreux properties are selling below 2002 pre-bubble prices. Somersett is recovering to 2005 or so – the lost decade. I know we are supposed to be feeling giddy about our regional growth, but I’m not feeling it. Are you?