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 2nd to May 8th
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings increased nicely from 1,568 the previous week to 1,592 active listings in the market; 1,095 residential properties and 497 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 164 properties listed as short sales, (10.3%) and 45 properties listed as REO sales, (3.1%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has 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 larger home or better location.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Sales: For 2011, there have been 395 properties sold in the market as compared to 432 for the same period in 2010 which is an (8.6%) decrease in sales.
REO & Short Sales: Of the properties sold, 103 have been REO’s, (26.1%), and 56 have been Short Sales, (14.2%) which results in over 40% of the properties sold being a distressed property. In 2010 for the same period, there were 102 REO sales and 61 short sales or roughly 38% of the total sales.
Price Range: For the year, there have been 274 properties sold priced below $500,000, 93 properties sold between $500,000 and $1,000,000 and 28 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 $478,628. For the same period in 2010, the median sales price was $400,000 and the average sales price was $525,491 which is an (8.8%) and (8.9%) decline in price respectively year over year.
Last Week’s Sales: For the week of May 2nd a total of 14 properties sold which was down sharply from the previous week’s sales of 27 properties. Of the properties sold last week, two (2) of the properties sold were priced over $750,000.
Pending Sales: Currently there are 160 pending sales in the market which is up slightly from the previous week. Of the pending sales, 10 are short sales and 21 are REO properties.
Market Activity Summary:
Sales for the first week of May were the third lowest week this year in terms of closed transactions. This very well may be because of the beginning of the month which tends to be slower but compared to last year sales for the same week were 24 transactions. Overall sales year to date as compared to last year are down 8.6% from 432 sales in 2010 versus 395 sales in 2011.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 69% or 274 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 28 properties have sold year to date as compared to 42 properties last year. The mid range market sales, $500,000 to $1,000,000 are down slightly from last year with 93 properties sold or 24% of the total sales as compared to 115 properties sold in 2010.
Distressed properties, REO and Short Sales represent 40% 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 8.8% to $365,000 while the average sales prices have decreased by 8.9% to $525,491. 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 spring.
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 Market Report
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: April 25th to May 1st
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings went up slightly from 1,547 the previous week to 1,568 active listings in the market; 1,081 residential properties and 487 lots and land listed for sale. 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, (10.5%) and 45 properties listed as REO sales, (2.9%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 13.5-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:
For 2011, there have been 375 properties sold in the market as compared to 408 for the same period in 2010 which is a (8.1%) decrease in sales.
Of the properties sold, 99 have been REO’s, (26.4%), and 51 have been Short Sales, (13.6%) which results in 40% of the properties sold being a distressed property. In 2010 for the same period, there were 100 REO sales and 60 short sales or 39% of the total sales.
For the year, there have been 259 properties sold priced below $500,000, 89 properties sold between $500,000 and $1,000,000 and 27 properties sold over $1,000,000.
Median and Average Sales Prices 2011 Vs 2010:
The median sales price for properties sold year to date was $365,000 and the average sales price went up slightly to $482,530. For the same period in 2010, the median sales price was $400,000 and the average sales price was $514,503 which is an (8.8%) and (6.2%) decline in price respectively year over year.
Last Week’s Sales: For the week of April 25th a total of 27 properties sold which went up nicely from the previous week’s sales of 21 properties. Of the properties sold last week, five (5) of the properties sold were priced over $750,000.
Pending Sales: Currently there are 151 pending sales in the market which is up slightly from the previous week with 14 being a short sale and 22 being REO properties.
Market Activity Summary:
The last week of April saw sales rebound from the two preceding weeks to 27 properties closing escrow. April sales for 2011 were off by 27 sales for the month as compared to April sales in 2010. Because of the slower sales in April, overall sales year to date as compared to last year are down 8.1% from 408 sales in 2010 versus 375 sales in 2011.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 69% or 259 properties have sold in this price range. Sales of homes priced above $1,000,000 have gained nicely in the last 45 days but continued to be off from last year as 27 properties have sold year to date in this price range as compared to 37 properties last year. The mid range market sales, $500,000 to $1,000,000 are down slightly from last year with 89 properties sold or 24% of the total sales.
Distressed properties, REO and Short Sales represent 40% 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 8.8% to $365,000 while the average sales prices have decreased by 6.2% to $482,530. While other parts of California are reporting median prices stabilizing or increasing slightly, that is not the case across the board 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 spring.
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
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: March 28th to April 3rd
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings went down slightly from 1,539 the previous week to 1,529 active listings in the market; 1,056 residential properties and 473 lots and land listed for sale. Coldwell Banker has over 15% of the active listings in the market.
REO-Short Sale Listings: Of the active listings, there are 156 properties listed as short sales, (10.2%) and 50 properties listed as REO sales, (3.3%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 11-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:
For 2011, there have been 287 properties sold in the market as compared to 291 for the same period in 2010 which is a (1.4%) decrease in sales.
Of the properties sold, 77 have been REO’s, (26.8%), and 41 have been Short Sales, (14.3%) which results in 41.1% of the properties sold being a distressed property. In 2010 for the same period, there were 75 REO sales and 36 short sales or 38.2% of the total sales.
For the year, there have been 199 properties sold priced below $500,000, 73 properties sold between $500,000 and $1,000,000 and 15 properties sold over $1,000,000.
Median and Average Sales Prices 2011 Vs 2010:
The median sales price for properties sold year to date stayed the same from last week to $365,000 and the average sales price went up slightly to $467,856. For the same period in 2010, the median sales price was $400,000 and the average sales price was $507,603 which is an (8.8%) and (7.8%) decline in price respectively year over year.
Last Week’s Sales: For the week of March 28th a total of 29 properties sold which is the second highest week of sales in 2011 and up significantly from the previous week’s sales of 18 properties. Of the properties sold last week, three (3) of the properties sold were priced over $1,000,000 with one of the sales sold at $3,350,000.
Pending Sales: Currently there are 136 pending sales in the market which is down slightly from the previous week with 10 being a short sale and 31 being REO properties.
Market Activity Summary:
The last week of March sales was the second largest week of sale in 2011 with 29 properties closing escrow. On top of that, three of the sales were over $1.0 million which has been a segment of the market with the lowest volume of sales. In comparing sales from last year to this year, the good news is that we are right in line with sales results from 2010.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 69% or 199 properties have sold in this price range. Sales of homes priced above $1,000,000 have continued to be off from last year as only 15 properties have sold year to date in this price range as compared to 26 properties last year in this price range. The mid range market sales, $500,000 to $1,000,000 are almost identical with sales in 2010 with 73 properties sold or 25% of the total sales.
Distressed properties, REO and Short Sales represent 41.1% of the sales in the market which is slightly higher than 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 and average sales prices for properties have gone from double digit decreases to a more reasonable single digit decreases. Median sales prices have decreased by 8.8% to $365,000 while the average sales prices have decreased by 7.8% to $507,603.
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 spring.
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 Market Report
Weekly Truckee Real Estate Update
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: March 21st to March 27th
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings went up slightly from 1,532 the previous week to 1,539 active listings in the market; 1,060 residential properties and 479 lots and land listed for sale. Coldwell Banker has over 15% of the active listings in the market.
REO-Short Sale Listings: Of the active listings, there are 150 properties listed as short sales, (9.7%) and 54 properties listed as REO sales, (3.5%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 12-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:
For 2011, there have been 253 properties sold in the market as compared to 250 for the same period in 2010 which is a 1.2% increase in sales.
Of the properties sold, 67 have been REO’s, (26.5%), and 35 have been Short Sales, (13.8%) which results in 40.3% of the properties sold being a distressed property. In 2010 for the same period, there were 67 REO sales and 32 short sales or 39.6% of the total sales.
For the year, there have been 173 properties sold priced below $500,000, 68 properties sold between $500,000 and $1,000,000 and 12 properties sold over $1,000,000.
Median and Average Sales Prices 2011 Vs 2010:
The median sales price for properties sold year to date went down slightly from last week to $365,000 and the average sales price also dropped slightly to $459,838. For the same period in 2010, the median sales price was $400,000 and the average sales price was $508,015 which is an (8.8%) and (9.5%) decline in price respectively year over year.
Last Week’s Sales: For the week of March 21st a total of 18 properties sold which is up slightly from the previous week’s sales of 16 properties. Of the properties sold last week, two (2) of the properties sold were priced over $750,000.
Pending Sales: Currently there are 149 pending sales in the market which is down slightly from the previous week with 14 being a short sale and 38 being REO properties.
Market Activity Summary:
Last week’s sales while slightly better than the previous week were a little below the average of 21 sales per week for the year. When looking at sales from last year to this year, the good news is that we are slightly ahead of last year’s. As you may recall, 2009 sales were 24% higher than in 2008 so the 2011 year sales are trending nicely towards another solid year of sales.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 68% or 173 properties have sold in this price range. Sales of homes priced above $1,000,000 have continued to be off from last year as only 12 properties have sold year to date in this price range as compared to 23 properties last year in this price range. The mid range market sales, $500,000 to $1,000,000 are slightly higher than in 2010 with 68 properties sold or 27% of the total sales.
Distressed properties, REO and Short Sales represent 40.3% of the sales in the market which is almost identical to similar 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 and average sales prices for properties have gone from double digit decreases to a more reasonable single digit decreases. Median sales prices have decreased by 8.8% to $365,000 while the average sales prices have decreased by 9.5% to $459,838.
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 Market Report
2011 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region MLS
Residential and Lot/Land Properties
Week of: March 14th to March 20th
Active Inventory Summary:
Active Listings: The active inventory for residential and lot listings went down slightly from 1,550 the previous week to 1,532 active listings in the market; 1,057 residential properties and 475 lots and land listed for sale. Coldwell Banker has over 15% of the active listings in the market.
REO-Short Sale Listings: Of the active listings, there are 149 properties listed as short sales, (9.7%) and 52 properties listed as REO sales, (3.4%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 12-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:
For 2011, there have been 232 properties sold in the market as compared to 229 for the same period in 2010 which is a 1.3% increase in sales.
Of the properties sold, 60 have been REO’s, (25.9%), and 33 have been Short Sales, (14.2%) which results in 40.1% of the properties sold being a distressed property. In 2010 for the same period, there were 59 REO sales and 28 short sales or 38% of the total sales.
For the year, there have been 157 properties sold priced below $500,000, 63 properties sold between $500,000 and $1,000,000 and 12 properties sold over $1,000,000.
Median and Average Sales Prices 2011 Vs 2010:
The median sales price for properties sold year to date went up from last week to $370,000 and the average sales price dropped slightly to $473,892. For the same period in 2010, the median sales price was $400,000 and the average sales price was $517,352 which is an (7.5%) and (8.4%) decline in price respectively year over year.
Last Week’s Sales: For the week of March 14th a total of 16 properties sold which is down considerably from two very strong weeks. Of the properties sold last week, none of the properties sold were priced over $750,000.
Pending Sales: Currently there are 150 pending sales in the market which went up slightly from the previous week with 12 being a short sale and 38 being REO properties.
Market Activity Summary:
Last week’s sales took a breather from the two previous weeks which were the highest two weeks of the year. There were 16 properties sold in the market which is a little below the average of 21 sales per week. Not sure if weather had anything to do with the drop off given that we have had tremendous snow storms in the area which has impacted travel to the mountains. With great snow in the mountains and spring approaching we are hopeful of good things to come.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 68% or 157 properties have sold in this price range. Sales of homes priced above $1,000,000 have continued to be off from last year as only 12 properties have sold year to date in this price range. The mid range market sales, $500,000 to $1,000,000 are almost identical as in 2010 with 63 properties sold or 27% of the total sales.
Distressed properties, REO and Short Sales represent 40.1% of the sales in the market. However, there is still considerable interest in non distressed properties as many are priced at levels that are too good to pass up.
Median and average sales prices for properties have gone from double digit decreases to a more reasonable single digit decreases. Median sales prices have decreased by 7.5% to $370,000 while the average sales prices have decreased by 8.4% to $473,892.
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 spring.
