<strong>October 01, 2007</strong>
<strong><a href="http://dianecohn.blogs.com/reno/2007/10/reno-real-estat.html">Reno Real Estate Market Update</a></strong>
<a onclick="window.open(this.href, '_blank', 'width=800,height=600,scrollbars=no,resizable=no,toolbar=no,directories=no,location=no,menubar=no,status=no,left=0,top=0'); return false" href="http://dianecohn.blogs.com/.shared/image.html?/photos/uncategorized/2007/10/01/balloons_mom_house_055.jpg"><img title="Balloons_mom_house_055" style="FLOAT: left; MARGIN: 0px 5px 5px 0px" height="75" alt="Balloons_mom_house_055" width="100" border="0" src="http://dianecohn.blogs.com/reno/images/2007/10/01/balloons_mom_house_055.jpg" /></a> Sales slowed in September, most notably in the over $500,000 range, with overall activity off 39% from the year prior. Meanwhile, the median price slipped to $275,000. Months supply of inventory in the $500K-$1 million range is now approaching three years, with five years supply in the $1-2 million range and an infinite supply of homes over $2 million. Honestly it’s a pretty dramatic slowdown... Perhaps the day of reckoning for our luxury market in Reno Sparks has finally come. <a href="http://realtytimes.com/rtmcrcond/Nevada~Reno~dianecohn">full report</a>
<strong>Check out the high end inventory problem in Reno ! Whoa. (Info from RenoRealtyBlog.com)</strong>