Luxury real estate market trends, developments and marketing.

Montreux Real Estate Update September 2011

One of the very best month’s in Northern Nevada is upon us! It doesn’t get much better than a sunny and calm September day!

The weather in Reno has been in the low 80’s all month. The Montreux golf course is in fantastic shape, and there is just a hint of fall approaching with the start of autumn colors in the trees.

As you will see from the list of sales over the past month, August was booming! The Reno-Tahoe-Open was a huge success at the beginning of last month and the momentum carried us through to the start of September.

We are thrilled to report that since the last update, three homes and one lot went into escrow and four homes sold.

We saw our highest house (price/SF) and lot sale so far this year! Not a bad way to end the summer! Hopefully the last quarter of 2011 will continue on the same high note.

Has Montreux Seen a Pricing Bottom?

We are often asked how the real estate market in Montreux is, and what the recent sales trends are. Everyone wants to know if prices have stabilized.

And, the Big Question: Is NOW the time to buy?

Following is a summary of this year’s sales compared to the previous. As you can see Montreux is on track to do significantly better than the previous year, both in terms of sales volume and sales price.

Comparing 2010 sales to 2011 (so far):

  • 2010 had 21 total home sales
  • 2011 has had 17 homes sales to date, and 6 homes are currently “Pending”
  • 2010 had one sale over $2 Million
  • 2011 has had 3 homes over $2 Million, to date
  • 2010 had an average sales price of $905,923
  • 2011 has an average sales price of $1,220,074, to date

Pending Home Sales:

  • 20620 Latour — 3,192 SF $550,000 (list price)
  • 16800 Delacroix — 3,838 SF $895,000 (list price)
  • 5835 Strasbourg — 3,990 SF $1,395,000 (list price)

Pending Lot Sales:

  • #151 Foret — $395,000 (list price) *Highest lot sale of the year!

Home Sales:

  • 6435 Dubrou — 2,275 SF
  • 6031 Lake Geneva — 4,605 SF
  • 20402 Bordeaux Dr. — 4,809 SF *Highest price per SF of the year.
  • 6440 Dubrou — 7,651 SF *Third sale over $2 Million so far this year.

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