NEW 13165 Pinnacle Loop – Truckee
This is a stunningly beautiful home with top of the world panoramic mountain views and awesome southern exposure. Originally built in the early 80′s and mostly torn down and rebuilt with modern and custom finishes in 2006. 7 zones of hydronic radiant heat, cherry floors, and alder doors and trim package. The level lot lends itself to outdoor play, and has significant landscaping with a rear patio, and lawn. Massive garage with a big workshop area, and oh yeah, magnificent panoramic mountain views.
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10325 Shore Pine Rd. – Truckee, CA -SOLD
This great single story home in Sierra Meadows has been extensively updated, and boasts an amazing setting, just minutes from downtown Truckee and Northstar. Tasteful bathrooms and a wonderful modern kitchen augment the large open great room plan that backs to an expansive rear lawn area. New wood floors, doors, carpet, trim, paint, and light fixtures are all just completed or about to be. Easy walking distance to the homeowner’s pool and tennis area are another great bonus of this location. Come and take a private showing today to see this great value, and a great neighborhood.
Truckee – Tahoe Weekly Market Update
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential Properties – Single Family Homes and Condominiums
Week of: August 22nd to August 28th
Active Inventory Summary:
Active Listings: The inventory for residential properties went up slightly to 1,378 active listings in the market; 1,072 single family homes and 306 condominiums for sale. Coldwell Banker has over 17% of the active listings in the market and continues to be the market leader for listings.
REO-Short Sale Listings: Of the active listings, there are 153 properties listed as short sales, (11.1%) and 50 properties listed as REO sales, (3.6%).
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 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:
Total Sales: For 2011, there have been 703 residential properties sold in the market as compared to 688 for the same period in 2010 which is a year over year 2.2% increase in sales. Of the total sales in the market for 2011, 542 have been single family homes, while 161 or 23% of the sales were condominiums. I n 2010, condominiums represented 34% of the sales which is significantly higher than in 2011.
REO & Short Sales: Of the properties sold, 144 have been REO’s, (20.5%), and 107 have been Short Sales, (15.2%) which results in over 35% of the properties sold being distressed properties. In 2010 for the same period, there were 139 REO sales and 91 short sales or roughly 33% of the total sales.
Sales Price Range: For the year, there have been 470 residential properties sold priced below $500,000, 177 properties sold between $500,000 and $1,000,000 and 56 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $397,700 while the average sales price is $528,675. For the same period in 2010, the median sales price was $429,335 and the average sales price was $627,762 which is a (7.4%) and (15.8%) decline in price respectively year over year.
Last Week’s Sales: For the week of August 22nd a total of 21 properties sold which was 24% higher than the previous week’s sales of 17 properties. Of the properties sold last week, three (3) of the properties sold were priced over $1,000,000 with one closing at $6.4 million and another priced at $3.2 million.
Pending Sales: Currently there are 196 pending residential sales in the market which is up slightly from the previous week. Of the pending sales, 16 are short sales and 20 are REO properties which is roughly 18% of the pending sales being distressed properties.
Market Activity Summary:
Last week’s residential sales were up nicely from the previous two weeks with 21 residential properties closing. There were three properties closed over $1 million dollars and of which two were over $3 million. Last week’s sales came more in line with the average weekly sales for July and August of last year which is encouraging. In addition, there continues to be an encouraging trend as pending sales went up again last week to 196 properties reported in escrow. As it relates to pending sales, only 18% of the pending sales are distressed properties whereas we are seeing 35% of the overall sales for the year being and REO or short sale.
Median sales prices have decreased from last year by 7.4% to $397,700 while the average sales prices have decreased by 15.8% to $627,762. These price trends are one of the major factors influencing home sales to date and should bode well for the remainder of the year.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 67% or 470 properties have sold in this price range. In 2010, 60% or 413 properties sold in this price range which would be expected given the drop median sales prices.
Luxury home sales, homes priced above $1,000,000, continue lag behind 2010 sales as 56 properties or 8.0%, have sold year to date as compared to 79 properties last year which is a 29% decline. For 2011, the median sales price for luxury properties is $1,615,000 while the average sales price is $2,062,595 which are almost identical to the prices for 2010 in this segment.
The mid range market, sales $500,000 to $1,000,000 are down as well from last year with 177 properties sold or 25.2% of sales as compared to 196 properties sold or 28.5% in this range in 2010.
Distressed properties, REO and Short Sales represent 35% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. Interestingly enough while 35% of the sales are distressed properties only 14% of the active listings and 18% of the pending sales are distressed properties.
With the inventory of great residential properties on the market, homes priced at 10-year lows and some of the lowest interest rates in history, we are anticipating a strong rally towards the end of the year.
Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. DRE License # 00313415
11075 Star Pine – Truckee, CA – SOLD
This level ranch style home is appointed on a gorgeous setting on a big .4 acre lot in sunny Sierra Meadows, just minutes from downtown Truckee and Northstar at Tahoe Resort. It is easily walking distance to the pool and tennis facility, and lovingly maintained and designed for outdoor enjoyment. A very functional and flowing layout is complimented with a spacious master, ample spare room, an office that could easily be a 3rd bedroom and a big great room. Outside, a truly magnificent landscape awaits with a fenced yard, a seasonal creek, and a very private feel. Lush, inviting and private. You’ll love what the owners have made here, as this feels like home. This is a Short Sale.
Truckee – Tahoe Weekly Market Update
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential Properties – Single Family Homes and Condominiums
Week of: August 15th to August 21st
Active Inventory Summary:
Active Listings: The inventory for residential properties went up nicely to 1,374 active listings in the market; 1,064 single family homes and 310 condominiums for sale. Coldwell Banker has over 17% of the active listings in the market and continues to be the market leader for listings.
REO-Short Sale Listings: Of the active listings, there are 146 properties listed as short sales, (10.6%) and 49 properties listed as REO sales, (3.6%).
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 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:
Total Sales: For 2011, there have been 681 residential properties sold in the market as compared to 666 for the same period in 2010 which is a 2.3% increase in sales. Of the total sales in the market for 2011, 524 have been single family homes, while 157 were condominiums.
REO & Short Sales: Of the properties sold, 142 have been REO’s, (20.9%), and 102 have been Short Sales, (15.0%) which results in over 35% of the properties sold being distressed properties. In 2010 for the same period, there were 134 REO sales and 89 short sales or roughly 33% of the total sales.
Sales Price Range: For the year, there have been 454 properties sold priced below $500,000, 174 properties sold between $500,000 and $1,000,000 and 53 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $400,000 while the average sales price is $520,205. For the same period in 2010, the median sales price was $428,500 and the average sales price was $621,735 which is an (6.7%) and (16.3%) decline in price respectively year over year.
Last Week’s Sales: For the week of August 15th a total of 17 properties sold which was identical to the previous week’s sales of 17 properties. Of the properties sold last week, two (2) of the properties sold were priced over $750,000 and one of the two was priced over $4.4 million.
Pending Sales: Currently there are 195 pending residential sales in the market which is up slightly from the previous week. Of the pending sales, 19 are short sales and 18 are REO properties.
Market Activity Summary:
August residential sales are averaging 16 sales per week as compared to average weekly sales in July which were roughly 22 sales per week. It is possible that with the recent economic news, some homebuyers are being a bit more cautious than in previous months. However, there continues to be an encouraging trend as pending sales went up noticeably again last week to 195 properties reported in escrow.
Median sales prices have decreased from last year by 6.7% to $400,000 while the average sales prices have decreased by 16.3% to $520,205 from last year. These price trends are one of the major factors influencing home sales to date and should bode well for the remainder of the year.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 67% or 454 properties have sold in this price range. Luxury home sales, homes priced above $1,000,000, continue lag behind 2010 sales as 53 properties or 7.8%, have sold year to date as compared to 76 properties last year which is a 30% decline. The mid range market, sales $500,000 to $1,000,000 are down as well from last year with 174 properties sold or 26% of sales as compared to 190 properties sold in this range in 2010.
Distressed properties, REO and Short Sales represent 35% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. Interestingly enough while 35% of the sales are distressed properties only 14% of the active listings are distressed properties.
With the inventory of great residential properties on the market, homes priced at 10-year lows and some of the lowest interest rates in history, we are anticipating a strong rally towards the end of the year.
Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. DRE License # 00313415
