Reno Home Prices Still Declining

Posted by Katie Shaffer — July 11, 2011

1310401693LAKE TAHOE, NV (July 6, 2011)Reno-Sparks real estate is still in recovery mode, with an eight percent dip in average home price and nine percent drop in total volume sold, according to a midyear report released by Lake Tahoe-based Chase International. An upswing in the sale of million-dollar homes brightened the scenario in both Carson Valley and Reno.

The average price of a home in Reno-Sparks is $195,503 and the median is $155,375 (down 11 percent). Reno saw a 44 percent increase in homes sold for more than a million while homes selling for less than a million stayed relatively flat, with a two percent decline.

Carson Valley saw a 200 percent jump in homes sold for more than $1 million while homes selling for less than a million went unchanged. The average home price in Carson Valley is $269,375 (up two percent) and the median price is $199,000 (down 12 percent). The report, released quarterly by Chase International, compares sales and prices from January 1 through June 30, 2011 to the same timeframe of 2010.

About Chase International

Headquartered in Lake Tahoe, Nevada since 1986, with eight offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe and Reno) and one in London, England, Chase International and its exclusive affiliations handles a large share of the country’s property. A recognized leader in the world of real estate, Chase International continues to grow having added 65 Realtors® to their ranks in the past twelve months.

With 240 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels. For more information about Chase International visit www.chaseinternational.com.

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