Real Estate in Truckee Tahoe

2011-05-27T17:00:00.000-07:00

2011 Weekly Real Estate Market Report

North Lake Tahoe-Truckee MLS
Week of:
May 16th to 22nd

Active Listings: The active inventory for residential and lot listings increased 6% from 1,592 the previous week to 1,681 active listings in the market; 1,165 residential properties and 515 lots and land listed for sale. As is typical in the spring, more homeowners begin to place their properties back on the market for the summer selling period.

REO-Short Sale Listings: Of the active listings, there are 159 properties listed as short sales, (9.5%) and 46 properties listed as an REO sale, (2.7%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 14-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a larger home or better location.

Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:

Sales: For 2011, there have been 439 properties sold in the market as compared to 476 for the same period in 2010 which is an (7.8%) decrease in sales.

REO & Short Sales: Of the properties sold, 109 have been REO’s, (24.8%), and 62 have been Short Sales, (14.1%) which results in over 39% of the properties sold being a distressed property. In 2010 for the same period, there were 109 REO sales and 68 short sales or roughly 37% of the total sales.

Price Range: For the year, there have been 307 properties sold priced below $500,000, 102 properties sold between $500,000 and $1,000,000 and 30 properties sold over $1,000,000.

Median and Average Sales Prices: The median sales price for properties sold year to date is $360,000 while the average sales price is $470,985. For the same period in 2010, the median sales price was $400,000 and the average sales price was $524,100 which is an (10.0%) and (10.1%) decline in price respectively year over year.
Last Week’s Sales: For the week of May 16th a total of 23 properties sold which was up slightly from the previous week’s sales of 18 properties. Of the properties sold last week, none of the properties sold were priced over $750,000.
Pending Sales: Currently there are 184 pending sales in the market which is up 15% from the previous week. Of the pending sales, 17 are short sales and 32 are REO properties.

Market Activity Summary:

Overall sales year to date as compared to last year are down 7.8% from 476 sales in 2010 versus 439 sales in 2011. The drop off in sales has primarily occurred in the second quarter as the first quarter sales were slightly higher in 2011 than in 2010. While we would all like to see this trend reversed, there are some positive indicators on the horizon with a 15% increase in pending sales and a 6% increase in active listings in the market. Spring is underway and the summer is around the corner where more activity is anticipated.

The hottest segment of the market continues to be homes priced under $500,000 as roughly 70% or 307 properties have sold in this price range. Sales of homes priced above $1,000,000 continue to lag behind 2010 sales in this price range as 30 properties have sold year to date as compared to 47 properties last year which is a 36% drop. The mid range market sales, $500,000 to $1,000,000 are down as well from last year with 102 properties sold or 23% of the total sales as compared to 123 properties sold in 2010.
Distressed properties, REO and Short Sales represent 39% of the sales in the market which is almost identical to REO and Short sales in 2010. However, there is still considerable interest in non distressed properties as many are priced at levels that are too good to pass up.
Median sales prices have decreased by 10% to $360,000 while the average sales prices have also decreased by 10% to $524,100. While other parts of California are reporting median prices stabilizing or increasing slightly, that is not the case thus far in the Tahoe-Truckee market.

All in all, with the existing inventory levels, the lower median and average sales prices, favorable interest rates available to qualified Buyers, now may be the right time for that investment in a vacation home or investment property especially before the busy summer months.

Weekly Market Report May 17th ot May 21st

2010-05-27T22:46:00.000-07:00

Active Inventory Summary:
Active Listings: The active listing inventory for the Tahoe-Truckee market increased 3.5% from the previous week as more homeowners are putting their homes on the market for the summer season. Currently there are 1,817 active listings in the market; 1,255 residential properties and 561 lots and land listed for sale. Coldwell Banker has over 15% of the listings in the market.

REO-Short Sale Listings: Of the active listings, there are 149 properties listed as short sales, (8%) and 58 properties listed as REO sales, (3%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 16-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location.

Sales Summary:

Total Sales 2010 Vs 2009:

For 2010, year to date (YTD), there have been 472 properties sold in the market as compared to 265 for the same period in 2009 which is a 78% increase in sales.

Of the properties sold, 108 were REO’s, (23%), and 67 were Short Sales, (14%) which results in 37% of the properties sold being a short sale or REO. In 2009 for the same period, there were 32 REO sales and 27 short sales or 22% total.

For 2010, there have been 302 properties sold priced below $500,000, 123 properties sold between $500,000 and $1,000,000 and 47 properties sold over $1,000,000.

Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold year to date in 2010 is $400,000 while the average sale price is $526,586. For the same period in 2009, the median sales price was $450,000 and the average sales price was $580,943 which is an (11%) and (9%) decline in price respectively year over year for the same period of time.

Last Week’s Sales: For the week of May 17th to May 21st, a total of 17 properties sold which was the lowest single week of sales since the first week of March. Of the properties sold last week two (2) of the properties sold were over $1.0 million.

Pending Sales: Pending sales went up slightly from the previous week to 183 properties.

Market Activity Summary:

This past week the Tahoe-Truckee area experienced some winter weather which may have been the reason for a slower sales week where only 17 properties sold for the week. That being said, there continues to be a great deal of activity brewing and continued buyer interest in our market.

With residential and lot sales up 78% from the previous year, it points to the fact that astute buyers continue to show strong interested in investing in Tahoe-Truckee real estate which is priced in some cases at 2001 price levels.

One of the key reasons for the spike in unit sales is highly influenced by the drop in home prices. The median sales prices have decreased by 11% to $400,000 and average sales prices have decreased by 9% to $526,586.

We continue to see a greater percentage of sales in the REO and Short Sale arena as roughly 37% of our sales are either REO’s or Short Sales. However, there is still considerable interest in non distressed properties as many are priced at levels that are too good to pass up.

We are continuing to see the trend for sales towards homes priced under $500,000 with 64% of the sales this year being in this price range.

Tahoe-Truckee Median Sales Prices of $400,000 Have Not Been Seen Since 2000-2001!

Fast Facts...

2010-04-29T10:57:00.000-07:00

Some Fast Facts From the California Association of Realtors:

Calif. median home price: March 2010: $301,790 (Source: C.A.R.)

Calif. highest median home price by C.A.R. region March 2010: Santa Barbara So. Coast $890,000(Source: C.A.R.)

Calif. lowest median home price by C.A.R. region March 2010: High Desert $122,970 (Source: C.A.R.)

Calif. First-time Buyer Affordability Index - Fourth Quarter 2009: 64 percent (Source: C.A.R.)

Mortgage rates - week ending 4/22/10 30-yr. fixed: 5.07 Fees/points: 0.7% 15-yr. fixed: 4.39% Fees/points: 0.6% 1-yr. adjustable: 4.22% Fees/points: 0.5% (Source: Freddie Mac)

Weekly Market Report

2010-04-12T15:02:00.000-07:00

Weekly Sales and Market Activity Report

North Lake Tahoe-Truckee Region
Week of: March 29th to April 4th

Active Listings: The active listing inventory for the Tahoe-Truckee bumped up nicely for residential homes from the previous week. Currently there are 1,602 active listings - 1,092 residential properties and 510 lots and land listed for sale.

Active REO-Short Sale Listings: Of the active listings, there are 160 properties listed as short sales, (10%) and 54 properties listed as REO sales, (3%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 14-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.

Total Sales 2010 Vs 2009:
For 2010, year to date (YTD), there have been 288 properties sold in the market as compared to 163 for the same period in 2009 which is a 77% increase in sales.

Of the properties sold, 74 were REO’s, (26%), and 36 were Short Sales, (13%) which results in 39% of the properties sold being a short sales or REO. In 2009 for the same period, there were 17 REO sales and 16 short sales or 20% total.

For 2010, there have been 181 properties sold priced below $500,000, 81 properties sold between $500,000 and $1,000,000 and 26 properties sold over $1,000,000.

Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold year to date in 2010 is $405,000 while the average sale price is $511,103. For the same period in 2009, the median sales price was $465,000 and the average sales price was $584,437 which is a (13%) and (12%) decline in price respectively year over year for the same period of time.

Last Week’s Sales: For the week of March 29th to April 4th, a total of 41 properties sold which is the single highest week of sales in five months. Of the properties sold last week eight (8) were sold with a price over $750,000. Coldwell Banker was involved in 20 of the 82 sales sides closed or 25% of the sales.

Pending Sales: Pending sales decreased because of the large number of sales from the previous week from 188 to 170 properties.

In Summary:

With the extremely strong week of sales for the last week of March the overall unit sales activity continues to be very encouraging as total sales are up 77% from the same time last year which is a positive indication that buyers are interested in investing in Lake Tahoe-Truckee properties.

One of the key reasons for the spike in unit sales is likely due to the fact that median and average sales prices for properties has gone down as compared to the 2009 prices for the same period. Median sales prices have decreased by 13% to $405,000 and average sales prices have decreased by 12% to $511,103. It certainly stands to reason that continued favorable pricing is fueling the robust sales activity.

We are continuing to see the trend for sales towards homes priced under $500,000 with 63% of the sales this year being in this price range. REO and Short sales are occurring at a much greater rate this year than last year as roughly 39% of our sales are either REO or short sales. Within the under $500,000 price segment of the market we are often seeing multiple offer situations occur routinely.

We continue to see solid activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.

This week's featured listing at Donner Lake...

2010-03-30T12:53:00.000-07:00

2010-03-22T15:03:00.000-07:00

GOOD NEWS!

Sales activity and interest continues to be very encouraging as total sales are up 71% from the same time last year which is a positive indication that we may see more inventory movement in 2010 than in 2009.

As we have been expecting, the median and average sales prices for properties has gone down as compared to the 2009 prices for the same period. Median sales price have decreased by 10% and the average sales have decreased by 9%.
We are continuing to see the trend for sales towards homes priced under $500,000 with 64% of the sales this year being in this price range. REO and Short sales are happening at a much greater rate this year than last year for the same period.

Weekly Sales and Market Activity Report

North Lake Tahoe-Truckee Region

Week of: March 8th – 14th
Active Inventory Summary:

Active Listings: The active listing inventory for the Tahoe-Truckee market stayed relatively flat from the previous week. Currently there are 1,578 active listings - 1,068 residential properties and 510 lots and land listed for sale.

Active REO-Short Sale Listings: Of the active listings, there are 157 properties listed as short sales, (10%) and 58 properties listed as REO sales, (4%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 16-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.

Sales Summary:

Total Sales 2010 Vs 2009:

For 2010, year to date (YTD), there have been 203 properties sold in the market as compared to 119 for the same period in 2009 which is a 71% increase in sales.

Of the properties sold, 57 were REO’s, (28%), and 21 were Short Sales, (10%) which results in 38% of the properties sold being a short sales or REO. In 2009 for the same period, there were 14 REO sales and 11 short sales or 21% total.

For 2010, there have been 130 properties sold priced below $500,000, 53 properties sold between $500,000 and $1,000,000 and 20 properties sold over $1,000,000.

Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold year to date in 2010 is $410,000 while the average sale price is $531,630. For the same period in 2009, the median sales price was $454,475 and the average sales price was $581,385 which is a (10%) and (9%) decline in price respectively year over year for the same period of time.

Last Week’s Sales: For the week of March 8-14, sales were down from the previous week with 15 properties sold. Of the properties sold last week only one (1) was sold with a price over $750,000.

Pending Sales: Pending sales increased nicely from the previous week from 154 to 174 properties.

Market Activity Summary:

We continue to see solid activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.

Now is a Great Time to Consider Buying a Lake Tahoe and Truckee Property!
Take Advantage of 2003 Prices and Lot’s to Choose From.

Weekly Market Report March 1st - 7th

2010-03-13T11:25:00.000-08:00

Things are picking up in the Truckee Tahoe Real Estate Market so far this year vs. 2009: sales are up 77% over last year! If you have equity in your home there are great opportunities for investment in this market...call me or email me for details!
Weekly Sales and Market Activity Report

North Lake Tahoe-Truckee Region
Week of: March 1st – 7th

Active Inventory Summary:

Active Listings: The active listing inventory for the Tahoe-Truckee market stayed relatively flat from the previous week. Currently there are 1,587 active listings - 1,072 residential properties and 515 lots and land listed for sale.

Active REO-Short Sale Listings: Of the active listings, there are 164 properties listed as short sales, (10%) and 54 properties listed as REO sales, (3%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 16-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.

Sales Summary:

Total Sales 2010 Vs 2009:

For 2010, year to date (YTD), there have been 186 properties sold in the market as compared to 105 for the same period in 2009 which is a 77% increase in sales.

Of the properties sold, 52 were REO’s, (28%), and 19 were Short Sales, (10%) which results in 38% of the properties sold being a short sales or REO. In 2009 for the same period, there were 12 REO sales and 10 short sales or 22% total.

For 2010, there have been 119 properties sold priced below $500,000, 47 properties sold between $500,000 and $1,000,000 and 20 properties sold over $1,000,000.

Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold YTD in 2010 is $407,500 while the average sale price is $541,891. For the same period in 2009, the median sales price was $416,000 and the average sales price was $581,643 which is a (2%) and (7%) decline in price respectively for year over year.

Last Week’s Sales: For the week of March 1-7, sales were down from the previous week with 20 properties sold. Of the properties sold last week, five (5) of those sold at a price above $1.0 million with one sale at $3.6 million.

Pending Sales: Pending sales increased slightly to 154 properties which is a jump from the previous week.

Market Activity Summary:

Sales continue to be very encouraging as total sales are up 77% from the same time last year which is a positive indication that we may see more inventory movement in 2010 than in 2009.

As we have been expecting, the median and average sales prices for properties have for the first time in 2010 gone down as compared to the 2009 prices for the same period. Median sales price have decreased by 2% and the average sales have decreased by 7%.

We are continuing to see the trend for sales towards homes priced under $500,000 with 64% of the sales this year being in this price range. REO and Short sales are happening at a much greater rate this year than last year for the same period. Of interest, sales over $1.0 million are up 53% in 2010 with 20 properties sold thus far this year above a million dollars.

We continue to see solid activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.

Tahoe-Truckee Homes Prices are at 2003 Levels…

Weekly Market Report

2010-03-04T13:12:00.000-08:00

Weekly Sales and Market Activity Report

North Lake Tahoe-Truckee Region

Week of: February 22nd to February 28th

Active Inventory Summary:

Active Listings: The active listing inventory for the Tahoe-Truckee market increased slightly from the previous week. Currently there are 1,584 active listings - 1,072 residential properties and 512 lots and land listed for sale.

Active REO-Short Sale Listings: Of the active listings, there are 161 properties listed as short sales, (10%) and 56 properties listed as REO sales, (4%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 15-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.

Sales Summary:

Total Sales 2010 Vs 2009:

For 2010, year to date (YTD), there have been 162 properties sold in the market as compared to 93 for the same period in 2009 which is a 74% increase in sales.

Of the properties sold, 46 were REO’s, (28%), and 18 were Short Sales, (11%) which results in 39% of the properties sold being a short sales or REO. In 2009 for the same period, there were 12 REO sales and 9 short sales or 22%.

For 2010, there have been 103 properties sold priced below $500,000, 44 properties sold between $500,000 and $1,000,000 and 15 properties sold over $1,000,000.

Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold YTD in 2010 is $407,500 while the average sale price is $532,274. For the same period in 2009, the median sales price was $394,700 and the average sales price was $531,716 which is a 3% and 1% improvement in price respectively for one year.

Last Week’s Sales: For the week of February 22-28, sales increased nicely from the previous week with 25 properties sold. Of the properties sold last week, four (4) of those sold at a price above $750,000.

Pending Sales: Pending sales are at 143 properties which is relatively flat from the previous week.

Market Activity Summary:
The first two months of 2010 has been very encouraging and needless to say very active. Sales are up 74% from the same time last year which is a positive indication that we may see more inventory movement that in 2009. The median and average sales prices for properties have become more in line with 2009 prices as the median sales price has only increased 4% and the average sales has only increased 1%. We are continuing to see the trend for sales towards homes priced under $500,000 with 64% of the sales this year being in this price range. REO’s sales are much greater this year than last year for the same period.
We continue to see solid activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.

Tahoe-Truckee Homes Prices are at 2003 Levels…
Now is a Great Time to Buy or Move-Up in this Market!

2010-02-16T10:31:00.000-08:00

Hello! Here is the latest:

Weekly Sales and Market Activity Report

North Lake Tahoe-Truckee Region

Week of: February 1st to February 7th
Active Inventory Summary:

Active Listings: The active listing inventory for the Tahoe-Truckee market stayed relatively flat from the previous week. Currently there are 1,552 active listings - 1,039 residential properties and 513 lots and land listed for sale.

Active Listings - REO’s and Short Sales: Of the active listings, there are 156 properties listed as short sales, (10%) and 59 properties listed as REO sales, (4%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 18-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.

Sales Summary:

Total Sales Year-to-Date 2010 Vs 2009:

Tahoe-Truckee Sales are off to a fast start! On a year to date (YTD) basis there have been 91 properties sold in the market as compared to 47 for the same period in 2009 which is a 94% increase in sales.

For properties sold YTD 2010, 27 were REO’s, (30%), and 9 were Short Sales, (10%) which results in 40% of the properties sold being a short sales or REO. In 2009 for the same period, there were 2 REO sales and 5 short sales or 15%.

For 2010, there have been 59 properties sold priced below $500,000, 25 properties sold between $500,000 and $1,000,000 and 7 properties sold over $1,000,000.

Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold YTD in 2010 is $410,000 while the average sale price is $517,755. For the same period in 2009, the median sales price was $380,000 and the average sales price was $482,476 which is an 8% and 7% improvement in price respectively for one year.

Last Week’s Sales: For the week of February 1-7, sales went down from the previous week with 16 properties sold. Of the properties sold last week, five (5) of those sold at a price above $750,000.

Pending Sales: Pending sales are at 150 properties which is a slight increase from the previous week.

Market Activity Summary:

2010 sales are off to their fastest start in three years and are up 94% from the same time last year which is a positive indication that we may see more inventory movement that in 2009. The median and average prices for properties have increased over 7% respectively thus far but we anticipate median sales prices year over year will ultimately be lower as the year progresses. We are continuing to see the trend for sales towards homes priced under $500,000 with 65% of the sales this year being in this price range. Homes sold as REO’s are 30% of the sales which is a higher amount than our averages for 2009.

We continue to see solid activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.

Tahoe-Truckee Homes Prices are at 2003 Levels…

Now is a Great Time to Buy or Move-Up in this Market!

Truckee Tahoe Real Estate Market Activity for January 25th to 31st

2010-02-03T16:21:00.000-08:00

Weekly Sales and Market Activity Report

North Lake Tahoe-Truckee Region
Week of: January 25th to January 31st

Active Inventory Summary:

Active Listings: The active listing inventory for the Tahoe-Truckee market stayed relatively flat from the previous week. Currently there are 1,543 active listings - 1,040 residential properties and 503 lots and land listed for sale.

Active Listings - REO’s and Short Sales: Of the active listings, there are 157 properties listed as short sales, (10%) and 57 properties listed as REO sales, (4%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 16-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.

Sales Summary:

Total Sales Year-to-Date 2010 Vs 2009:

January sales off to a fast start! On a year to date (YTD) basis there have been 71 properties sold in the market as compared to 36 for the same period in 2009 which is a 97% increase.

For properties sold YTD 2010, 25 were REO’s, (35%), and 7 were Short Sales, (10%) which results in 45% of the properties sold being a short sales or REO. In 2009 for the same period, there were no 2 REO sales and only 4 short sales.

For 2010, there have been 50 properties sold priced below $500,000, 16 properties sold between $500,000 and $1,000,000 and 5 properties sold over $1,000,000.

Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold YTD in 2010 is $388,000 while the average sale price is $510,732. For the same period in 2009, the median sales price was $377,450 and the average sales price was $506,080 which is a 3% and 1% improvement in price respectively for one year.

Last Week’s Sales: For the week of January 25–31, sales went up from the previous week with 21 properties sold. Of the properties sold last week, two (2) of those sold at a price above $750,000. Coldwell Banker was involved in 7 of the 16 properties sold or 33%.

Pending Sales: Pending sales are at 148 properties which is a slight increase from the previous week.
Market Activity Summary:
In the early going of 2010 sales are up 97% from the same time last year which is a positive indication that 2010 is going to see more inventory movement that in 2009. The median and average prices for properties have increased slightly for the year thus far but we anticipate median sales prices year over year will ultimately be lower as the year progresses. We are continuing to see the trend for sales towards homes priced under $500,000 with 70% of the sales this year being in this price range. Homes sold as REO’s are 35% of the sales which is a higher amount than our averages for 2009.

We continue to see solid activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.
Coldwell Banker currently has over 41 homes in escrow scheduled to close in the next 30-60 days.

Tahoe-Truckee Homes Prices are at 2003 Levels…
Now is a Great Time to Buy or Move-Up in this Market!

Truckee Tahoe Real Estate Market Activity for January 18th to 24th

2010-01-31T10:10:00.000-08:00

Weekly Sales and Market Activity Report

North Lake Tahoe-Truckee Region

Week of: January 18th to January 24th

Active Inventory Summary:

Active Listings: The active listing inventory for the Tahoe-Truckee market increased slightly from the previous week. Currently there are 1,569 active listings - 1,061 residential properties and 508 lots and land listed for sale.

Active Listings - REO’s and Short Sales: Of the active listings, there are 161 properties listed as short sales, (10.3%) and 63 properties listed as REO sales, (4.0%).

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 17-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.

Sales Summary:

Total Sales Year-to-Date 2010 Vs 2009:

On a year to date (YTD) basis there have been 50 properties sold in the market as compared to 24 for the same period in 2009 which is a 108% increase.

For properties sold YTD 2010, 18 were REO’s, (36.0%), and 2 were Short Sales, (4.0%) which results in over 40% of the properties sold being a short sales or REO. In 2009 for the same period, there were no (0) REO sales and only 2 short sales.

For 2010, there have been 36 properties sold priced below $500,000, 10 properties sold between $500,000 and $1,000,000 and 4 properties sold over $1,000,000.

Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold YTD in 2010 is $389,000 while the average sale price is $503,450. For the same period in 2009, the median sales price was $347,750 and the average sales price was $413,037 which is an 11.9% and 21.9% improvement in price respectively for one year.

Last Week’s Sales: For the week of January 18–24th, sales were in line with the previous week at 16 properties sold. Of the properties sold last week, two (2) of those sold at a price above $750,000.
Pending Sales: Pending sales are at 145 properties which is a slight increase from the previous week.

Market Activity Summary:

In the early going of 2010 sales are up 108% from the same time last year to 50 properties sold. If this trend continues 2010 sales will be significantly better than in 2009. While the median and average prices for home has increased for this period, it is still anticipated that median sales prices year over year will ultimately be lower. We are continuing to see the trend for sales towards homes priced under $500,000 with 72% of the sales this year being in this price range. Homes sold as REO’s are 36% of the sales which is a higher amount than our averages for 2009.

We continue to see good activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.

Tahoe-Truckee Homes Prices are at 2003 Levels…
Now is a Great Time to Buy or Move-Up in this Market!

North Lake Tahoe and Truckee Real Estate Activity Report

2010-01-26T15:04:00.000-08:00

Weekly Sales and Market Activity Report

North Lake Tahoe-Truckee Region

Week of: January 11th to January 17th
Active Inventory Summary:

Active Listings: The active listing inventory for the Tahoe-Truckee market increased slightly from the previous week. Currently there are 1,558 active listings - 1,063 residential properties and 495 lots and land listed for sale.
Active Listings - REO’s and Short Sales: Of the active listings, there are 159 properties listed as short sales, (10.2%) and 57 properties listed as REO sales, (3.7%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 16-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.
Sales Summary:
Total Sales Year-to-Date 2010 Vs 2009:

On a year to date (YTD) basis there have been 32 properties sold in the market as compared to 19 for the same period in 2009 which is a 68.4% increase.
For properties sold YTD 2010, 11 were REO’s, (34.4%), and 2 were Short Sales, (6.3%) which results in over 40% of the properties sold being a short sales or REO. In 2009 for the same period, there were no (0) REO sales and only 2 short sales.
For 2010, there have been 25 properties sold priced below $500,000, 5 properties sold between $500,000 and $1,000,000 and 2 properties sold over $1,000,000.
Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold YTD in 2010 is $357,500 while the average sale price is $479,013. For the same period in 2009, the median sales price was $353,000 and the average sales price was $450,657 which is a 1.3% and 6.3% improvement in price respectively for one year.
Last Week’s Sales: For the week of January 11th – 17th, sales went up nicely from the previous week to 19 properties. Of the properties sold last week, three (3) of those sold at a price above $750,000. Coldwell Banker was involved in 8 of the 19 properties sold or 42%.
Pending Sales: Pending sales are at 139 properties which is an slight decrease from the previous week.
Market Activity Summary:
In the early going of 2010 sales are up 68% from the same time last year to 32 properties sold. If this trend continues 2010 sales should be better than in 2009. We are continuing to see the trend for sales towards homes priced under $500,000 with 78% of the sales this year being in this price range. Homes sold as REO’s are 34% of the sales which is a higher amount than our averages for 2009.
We continue to see good activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.
Coldwell Banker currently has over 35 homes in escrow scheduled to close in the next 30-60 days.

Tahoe-Truckee Homes Prices are at 2003 Levels…

January day in Truckee Tahoe

2009-01-29T14:55:00.000-08:00

I am sitting in the Tahoe Sierra Board of Realtors in their Squaw Valley classroom and setting up my first blog. Veronica from Lake Tahoe On Line gave a class to Realtors to learn how to set up a blog.

Today is a beautiful blue sky winter day at Squaw Valley...but we clearly need some more snow. Another high pressure is making for these nice warm days.

My goal is to post a picture every week from the Truckee Tahoe area and see if anyone can guess where it was taken!! Stay tuned...