Reno Realtor - Keller Realty Sierra Nevada Properties

It is interesting being out of a market and then jumping back in and trying to figure what is going on.  The first graph shows a median sales price that has gone down 59%.  The median price is the price at which half the sales were above and half below.  The challenge with this as a market indicator is that we have had a meltdown in the upper end where houses were not financeable for a good period of time forcing prices down.  This has brought the median down dramatically even though we are seeing a firming of prices in the lower end.  Do not get me wrong; the lower end has suffered with price drops, but not as much. The median price is also being driven down by distressed sales, which unfortunately make up a good part of the market.