Truckee Real Estate, Truckee Homes, Tahoe Real Estate Courtesy of Bret Churchman » Market Reports

Median Single Family Home Graph for Truckee Real Estate, 2004 – 1st Qtr 2010

Bret Churchman — Tue, 18 May 2010 17:02:24 +0000

Here is a graph reflecting median home sales prices in the Truckee Real Estate market through the first quarter of 2010. Prices fell another three percent in the first three months of this year. I think this is primarily because there are still quite a few homes and cabins in the Truckee and Donner Lake areas that are REO (bank owned) and short sale listings. Until these foreclosed and pre-foreclosed homes are no longer a part of the Truckee and North Lake Tahoe real estate market, there will continue to be downward pressure on home prices.

Truckee Real Estate: Graph of Median Single Family Home prices from 2004 through 1st quarter 2010

NOTE: This representation is based in whole or in part on data supplied by the Tahoe Sierra Board of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

Moving in the Right Direction?

Bret Churchman — Wed, 28 Apr 2010 22:27:45 +0000

In the past, I’ve written about the “collective subconscious” of the real estate market. There’s starting to be more and more good news out there that maybe we’ve actually bottomed out, and that prices will stabilize and homes may actually start appreciating again. A novel thought. I don’t think that we’ve seen the uptick yet in the Truckee Real Estate market, but good news has a way of being contagious.

This week the S&P/Case Shiller Price Index was published for data through February 2010. This is considered the leading indicator of home prices in the US and shows that for the first time since 2006, the annual rates of change for the indices is up. The ten city composite increased nearly 1 and half percent from where it was in February of 2009.

Here’s the graph:

Next week I will have finalized the 1st quarter graph for 2010 for the Truckee Real Estate sold market.

Old Greenwood – Gray’s Crossing Developer Files Chapter 11

Bret Churchman — Fri, 19 Feb 2010 19:25:01 +0000

This long protracted market downturn has caused East West Partners, the developer of several high end local subdivisions to file for Chapter 11 Bankruptcy protection for several of their properties. You can read about the details in this article just published in the local newspaper.

An update was printed about the potential fate of Gray’s Crossing and Old Greenwood’s Real Estate in this article that was printed on March 17, 2010

Median Single Family Home Graph for Truckee Real Estate, 2004 – 2009

Bret Churchman — Sat, 23 Jan 2010 20:25:28 +0000

Homes and cabins in the Truckee and Donner Lake real estate market finished the year with an overall 15 percent downturn in median sales price. This graph shows how median sales prices have been steadily decreasing since 2005, with a total decrease of about 27 percent. Truckee homes and cabins that were priced under 1 million dollars decreased in an average per foot selling price at the same percentage. Homes over 1 million dollars have only declined about 13% in dollar per foot sales price.

NOTE: This representation is based in whole or in part on data supplied by the Tahoe Sierra Board of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

Truckee Home Sales Chart 2004 – 3rd Quarter 2009

Bret Churchman — Fri, 02 Oct 2009 17:00:35 +0000

This chart shows the decline in the number of single family residences that have sold each year since 2004 in the Truckee Real Estate market. This YTD chart ending September 30, 2009 shows a total decline of 61%. This is just single family homes in Truckee and Donner Summit. This number will improve, as there are currently 79 homes in escrow, and another 28 short sales in escrow. Short sales are a real wild card, but some of them will close before the end of the year. I’m predicting that by year end, the current 2009 decline in units sold will actually be an increase over last year. That would make the 61% number of total decline I used above more like 51%. We’ll wait and see.

NOTE: This representation is based in whole or in part on data supplied by the Tahoe Sierra Board of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

Median Land Price Chart for Truckee Real Estate 2004 – August 30, 2009

Bret Churchman — Sat, 26 Sep 2009 02:07:48 +0000

This chart shows the median land sales price changes since 2004 for vacant land in the Truckee Real Estate market. As you can see, prices have really taken a big hit so far in 2009. What’s more, activity based by the number of sales this year has been abysmal. Much of the decline can be attributed to the lack of available construction financing. 2008′s statistics are a bit of an aberration, as individual land sales prices did not increase. Far from it, but there were just many fewer sales in the more “affordable” neighborhoods of Truckee, and thus the median sales price for what did sell was higher. This land graph only accounts for lots that were under 1.5 acres, and excludes Northstar and Martis Camp, which are much higher price points.

NOTE: This representation is based in whole or in part on data supplied by the Tahoe Sierra Board of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

Median Condominium Price Graph for Truckee Real Estate for 2004 – 8/30/2009

Bret Churchman — Fri, 25 Sep 2009 22:20:58 +0000

This chart shows the increases and decreases over the last 5 plus years, of median condominium values in the Truckee Real Estate market. This does not include some of the luxury condos in Northstar, or Old Greenwood, as some of those price points (1.6 million) skewed the stats a little bit. The median single family chart took about 20 hours for me to produce, and this one only took 5 or so. (We’re cooking with gas now) Look for the land chart coming soon. Since 2006, condo values in Truckee have decreased 34% YTD.

NOTE: This representation is based in whole or in part on data supplied by the Tahoe Sierra Board of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

Median Single Family Home Graph for Truckee Real Estate, 2004 – 8/30/2009

Bret Churchman — Wed, 23 Sep 2009 19:49:30 +0000

This fancy new graph (I’ve got about 20 hours in to this) is my first effort. It shows median prices in the overall Truckee Real Estate area from 2004 through August 30, 2009. To do the math for you, we are off the 2005 highs at about 28%. This is market wide here in Truckee, and only single family homes. Some neighborhoods have been hit harder.

NOTE: This representation is based in whole or in part on data supplied by the Tahoe Sierra Board of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

4th Quarter 2008 Single Family Residential Sales

Bret Churchman — Fri, 18 Sep 2009 17:21:30 +0000

Truckee Area	Number of Sales	Average Sold Price	Median Sold Price	Average Days on Market

Donner Lake	1	$396,000	$396,000	168
Donner Summit	1	$335,000	$335,000	41
Downtown Truckee	32	$710,393	$845,000	78
Glenshire	10	$471,650	$380,000	130
Gray’s Crossing	0	$0	$0	0
Lahontan	0	$0	$0	0
Martiswoods – Ponderosa Ranchos	1	$1,135,000	$1,135,000	73
Northstar	3	$2,500,000	$2,875,000	119
Old Greenwood	1	$1,072,500	$1,072,500	11
Olympic Heights	1	$268,000	$268,000	92
Pine Forest	0	$0	$0	0
Pla Vada	0	$0	$0	0
Prosser Lakeview Estates	4	$469,375	$472,500	133
Serene Lakes	2	$566,250	$566,250	183
Sierra Meadows – Ponderosa Palisades	7	$413,429	$405,000	99
Tahoe Donner	52	$700,394	$638,000	106

3rd Quarter 2008 Single Family Residential Sales

Bret Churchman — Mon, 02 Mar 2009 18:49:30 +0000

3rd Quarter 2008 Single Family Residential Sales

Truckee Area	Number of Sales	Average Sold Price	Median Sold Price	Average Days on Market

Donner Lake	9	$817,000	$495,000	99
Donner Summit	7	$654,715	$618,000	45
Downtown Truckee	2	$315,500	$315,500	3
Glenshire	12	$496,229	$443,000	112
Gray’s Crossing	0	$0	$0	0
Lahontan	4	$2,073,750	$1,960,470	47
Martiswoods – Ponderosa Ranchos	1	$995,000	$995,000	96
Northstar	2	$3,287,500	$3,287,500	96
Old Greenwood	1	$845,000	$845,000	38
Olympic Heights	1	$400,000	$400,000	44
Pine Forest	0	$0	$0	0
Pla Vada	1	$295,000	$295,000	11
Prosser Lakeview Estates	4	$520,000	$407,500	172
Serene Lakes	6	$714,667	$629,000	51
Sierra Meadows – Ponderosa Palisades	6	$400,083	$428,000	25
Tahoe Donner	80	80	80	80