Truckee Tahoe Real Estate Weekly Market Report
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: June 27th to July 3rd
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings went up 4% to 2,007 active listings in the market; 1,448 residential properties and 559 lots and land listed for sale. Inventory as expected has grown weekly since early May as Sellers are putting homes on the market for the summer and fall selling season. Coldwell Banker has roughly 15% of the active listings in the market and is the market leader for listings.
REO-Short Sale Listings: Of the active listings, there are 167 properties listed as short sales, (8.3%) and 44 properties listed as REO sales, (2.2%).
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 615 properties sold in the market as compared to 643 for the same period in 2010 which is only a (4.4%) decrease in sales.
REO & Short Sales: Of the properties sold, 136 have been REO’s, (22.1%), and 87 have been Short Sales, (14.1%) which results in roughly 36% of the properties sold being a distressed property. In 2010 for the same period, there were 138 REO sales and 91 short sales or roughly 35% of the total sales.
Price Range: For the year, there have been 433 properties sold priced below $500,000, 143 properties sold between $500,000 and $1,000,000 and 39 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $365,000 while the average sales price is $463,319. For the same period in 2010, the median sales price was $390,000 and the average sales price was $537,963 which is an (6.4%) and (13.9%) decline in price respectively year over year.
Last Week’s Sales: For the week of June 27th a total of 40 properties sold which up significantly from the previous week’s sales of 20 properties. Of the properties sold last week, four (4) of the properties sold were priced over $750,000.
Pending Sales: Currently there are 181 pending sales in the market which is up slightly from the previous week. Of the pending sales, 18 are short sales and 26 are REO properties.
Market Activity Summary:
Wow! The last week of June was fantastic in terms of sales as we experienced the single largest week of sales this year with 40 properties closing. The July 4th weekend was busy with visitors enjoying the multitude of festivities in the Tahoe and Truckee area with many visitors interested in our properties listed for sale.
Overall sales year to date as compared to last year are down only 4.4% from 643 sales in 2010 to 615 sales in 2011. More and more homes are coming on the market which if priced competitively could further stimulate sales for a strong third quarter.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 70% or 433 properties have sold in this price range. Luxury home sales, homes priced above $1,000,000, continue lag behind 2010 sales as 39 properties have sold year to date as compared to 59 properties last year which is a 34% drop. The mid range market, sales $500,000 to $1,000,000 are down as well from last year with 143 properties sold or 23% as compared to 164 properties sold in 2010.
Distressed properties, REO and Short Sales represent 36% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. Interestingly enough while 36% of the sales are distressed properties only 10% of the active listings are distressed properties.
Median sales prices have decreased by 6.4% to $365,000 while the average sales prices have decreased by 13.9% to $463,319.
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
Truckee Tahoe Real Estate Weekly Market Report
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: June 6th to June 12th
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings went up for the fifth week in a row to 1,819 active listings in the market; 1,287 residential properties and 532 lots and land listed for sale. The summer listing season is in full swing and prospective home buyers should have a great cadre of homes to choose from. Coldwell Banker has over 15% of the active listings in the market.
REO-Short Sale Listings: Of the active listings, there are 165 properties listed as short sales, (9.1%) and 43 properties listed as an REO sale, (2.4%).
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 527 properties sold in the market as compared to 558 for the same period in 2010 which is roughly an (5.6%) decrease in sales.
REO & Short Sales: Of the properties sold, 125 have been REO’s, (23.7%), and 71 have been Short Sales, (13.5%) which results in roughly 37% of the properties sold being a distressed property. In 2010 for the same period, there were 123 REO sales and 80 short sales or roughly 36% of the total sales.
Price Range: For the year, there have been 368 properties sold priced below $500,000, 123 properties sold between $500,000 and $1,000,000 and 36 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $363,500 while the average sales price is $472,223. For the same period in 2010, the median sales price was $399,000 and the average sales price was $542,511 which is a (8.9%) and (13.0%) decline in price respectively year over year.
Last Week’s Sales: For the week of June 6th a total of 32 properties sold which was up significantly from the previous week’s sales of 26 properties. Of the properties sold last week, four of the properties sold were priced over $750,000. Three properties sold were priced above $1.0 million with the largest sale being $3,250,000.
Pending Sales: Currently there are 182 pending sales in the market which is down slightly from the previous week. Of the pending sales, 19 are short sales and 29 are REO properties.
Market Activity Summary:
June is off to a great start. Sales for the first full week of June, (32 Sales), represented the second largest week of sales for the entire year. Overall sales year to date as compared to last year are down 5.6% from 558 sales in 2010 versus 527 sales in 2011. More and more homes are coming on the market which if priced competitively could spur a favorable change in sales. Summer has finally arrived in the Tahoe-Truckee area and the visitors to the area are on the rise. Let’s hope the sales activity for last week is an indicator of what the summer will bring.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 70% or 368 properties have sold in this price range. Sales of homes priced above $1,000,000 continue to be behind 2010 sales in this price range as 36 properties have sold year to date as compared to 52 properties last year which is a 30% drop. The mid range market sales, $500,000 to $1,000,000 are down as well from last year with 123 properties sold or 23% of the total sales as compared to 145 properties sold in 2010.
Distressed properties, REO and Short Sales represent 37% of the sales in the market which is almost identical to REO and Short sales in 2010. Interestingly enough while 37% of the sales are distressed properties only 12% of the active listings are distressed properties.
Median sales prices have decreased by 9% to $363,500 while the average sales prices have decreased by 13% to $472,223. 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.
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
Truckee Tahoe Real Estate Weekly Market Report
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: May 30th to June 5th
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings increased 3% from 1,728 the previous week to 1,776 active listings in the market; 1,250 residential properties and 526 lots and land listed for sale. Since the middle of May, we have seen weekly listings increase nicely as is typical for this time of year. Many homeowners are listing their homes to take advantage of the summer selling season. Coldwell Banker has over 15% of the active listings in the market.
REO-Short Sale Listings: Of the active listings, there are 166 properties listed as short sales, (9.3%) and 43 properties listed as an REO sale, (2.4%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has 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 larger home or better location.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Sales: For 2011, there have been 492 properties sold in the market as compared to 536 for the same period in 2010 which is roughly an (8%) decrease in sales.
REO & Short Sales: Of the properties sold, 117 have been REO’s, (23.8%), and 69 have been Short Sales, (14.0%) which results in roughly 38% of the properties sold being a distressed property. In 2010 for the same period, there were 117 REO sales and 74 short sales or roughly 35% of the total sales.
Price Range: For the year, there have been 344 properties sold priced below $500,000, 116 properties sold between $500,000 and $1,000,000 and 32 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 $469,147. For the same period in 2010, the median sales price was $400,000 and the average sales price was $550,742 which is a (10.0%) and (14.8%) decline in price respectively year over year.
Last Week’s Sales: For the week of May 30th a total of 26 properties sold which was up slightly from the previous week’s sales of 24 properties. Of the properties sold last week, three of the properties sold were priced over $750,000.
Pending Sales: Currently there are 185 pending sales in the market which is down slightly from the previous week. Of the pending sales, 17 are short sales and 31 are REO properties.
Market Activity Summary:
May ended on a strong note with two solid weeks of sales which is slightly above the average for weekly sales. Overall sales year to date as compared to last year are down 8.2% from 536 sales in 2010 versus 492 sales in 2011. More and more homes are coming on the market which if priced competitively could spur a favorable change in sales. With two weeks remaining until the summer solstice, the weather is looking more like spring/summer and things should be heating up in the real estate market.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 70% or 344 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 32 properties have sold year to date as compared to 52 properties last year which is a 38% drop. The mid range market sales, $500,000 to $1,000,000 are down as well from last year with 116 properties sold or 24% of the total sales as compared to 140 properties sold in 2010.
Distressed properties, REO and Short Sales represent 38% of the sales in the market which is almost identical to REO and Short sales in 2010. Interestingly enough while 38% of the sales are distressed properties only 12% of the active listings are distressed properties.
Median sales prices have decreased by 10% to $360,000 while the average sales prices have decreased by 14.8% to $469,147. 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.
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
Truckee Tahoe Real Estate Weekly Market Report
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: May 23rd to 29th
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings increased 3% from 1,681 the previous week to 1,728 active listings in the market; 1,207 residential properties and 521 lots and land listed for sale. We are continuing to the typical trend for this time of year with more homeowners listing their homes to take advantage of the summer selling season. Coldwell Banker has over 15% of the active listings in the market.
REO-Short Sale Listings: Of the active listings, there are 163 properties listed as short sales, (9.4%) and 44 properties listed as an REO sale, (2.5%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has 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 larger home or better location.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Sales: For 2011, there have been 463 properties sold in the market as compared to 511 for the same period in 2010 which is an (9.4%) decrease in sales.
REO & Short Sales: Of the properties sold, 115 have been REO’s, (24.8%), and 65 have been Short Sales, (14.0%) which results in over 38% of the properties sold being a distressed property. In 2010 for the same period, there were 115 REO sales and 72 short sales or roughly 37% of the total sales.
Price Range: For the year, there have been 325 properties sold priced below $500,000, 107 properties sold between $500,000 and $1,000,000 and 31 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $359,500 while the average sales price is $465,315. For the same period in 2010, the median sales price was $400,000 and the average sales price was $519,560 which is a (10.1%) and (10.4%) decline in price respectively year over year.
Last Week’s Sales: For the week of May 23rd a total of 24 properties sold which was up slightly from the previous week’s sales of 23 properties. Of the properties sold last week, two of the properties sold were priced over $750,000.
Pending Sales: Currently there are 191 pending sales in the market which is up slightly from the previous week. Of the pending sales, 18 are short sales and 30 are REO properties.
Market Activity Summary:
The first two weeks of May was very slow in terms of weekly sales while the last two weeks picked up nicely with average weekly sales of 23 properties closed. Overall sales year to date as compared to last year are down 9.4% from 511 sales in 2010 versus 463 sales in 2011. More and more homes are coming on the market which if priced competitively could spur a favorable change in sales. Winter is hanging on longer than expected as evidenced by snow over the Memorial Day weekend. However, spring is underway and 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 325 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 31 properties have sold year to date as compared to 48 properties last year which is a 35% drop. The mid range market sales, $500,000 to $1,000,000 are down as well from last year with 107 properties sold or 23% of the total sales as compared to 134 properties sold in 2010.
Distressed properties, REO and Short Sales represent 38% of the sales in the market which is almost identical to REO and Short sales in 2010. Interestingly enough while 38% of the sales are distressed properties only 12% of the active listings are distressed properties.
Median sales prices have decreased by 10% to $359,500 while the average sales prices have also decreased by 10% to $519,500. 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.
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
Truckee Tahoe Real Estate Weekly Market Report
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: May 16th to 22nd
Active Inventory Summary:
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 season. Coldwell Banker has over 15% of the active listings in the market.
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.
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
