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.
