Some of Reno's most popular condo complexes are showing strong gains over last year, with median sales prices in areas like Silver Creek and Fleur de Lis up 30 to almost 40% over 2015.  At Silver Creek, just off the Robb Drive exit in NW Reno, 12 units (2+ bedrooms) sold in the 1st quarter of this year, compared to just 4 at this time last year. And the median sales price at Silver Creek is up to $157,500, just $1k under the median asking price. The highest price for a 2-bedroom so far this year is $165,000, and one of the 3-bedroom models fetched almost $190k.

With summer approaching, sales of condos like these with swimming pools tend to benefit from the rising mercury.  The Resort at Tanamera, which has a year-round heated pool, has seen prices increase over last year, with a 2-bedroom condo recently selling for $295k. Prices there are inching up to pre-recession levels, when we saw a 2-bedroom going for as much as $340k.  Like Silver Creek, Tanamera condos are either upstairs or downstairs units. (Tanamera also offers attached garage parking, and indoor stairwells on the 2nd story condos.)

Buyers who prefer not to have upstairs (or downstairs) neighbors might consider South Reno condos like Fallen Leaf or Fleur de Lis, both of which feature town home-style living. Fallen Leaf, conveniently located off Mt Rose Highway near the Raley's shopping center, saw modest gains over Q1 last year, with 8 units sold so far this year, the highest price being a 2-bedroom that went for $243k. At Fleur de Lis, with its elegant clubhouse and facilities, the pace of sales is strong so far this year than last, with 5 units sold, the priciest being a 3-bedroom went for its asking price of $449,000. Cash.

Please call 775-391-9443 or email me if you would like to make an appointment to view condos in these or other parts of Reno/Tahoe. 

~ Jackie

Posted by Jackie Ginley on
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