2014 Truckee Real Estate Market Report
Residential Properties – Single Family Homes and Condominiums
Period: May 1st to May 15th
Residential Sales Summary 2014
Total Sales: On a year-to-date basis through May 15th, there have been 349 residential properties sold in the Truckee real estate market. For the same period in 2013, there were 414 residential properties sold which is a year over year decrease in sales of (16%). Of the total sales in the market this year, 247 have been single family homes, while 102 were condominiums. Condominiums represent 29% of total sales. In 2013 for the same period, there were 321 single family homes sold and 93 condominiums. Condominiums represented an identical 29% of the sales.
For the period May 1st through May 15th there were 49 properties sold as compared to 52 properties sold during the same period in 2013. Of the 49 properties sold in 2014, twelve (12) were sold at a price above $1.0 million.
Coldwell Banker ranks #1 among all brokerages on a year to date basis in both total units sold, 190 and total sales volume, $112 million.
REO & Short Sales: For 2014 thus far, short sale properties closed have gone down (66%) with 18 closed short sales as compared to 53 closed short sales in 2013. Similarly, REO properties closed in 2014 have gone down (33%) with 16 properties closed in 2014 as compared to 24 REO sales in 2013. Overall, distressed property sales, (REO and Short Sales) represent 10% of the sales in 2014 which is significantly less than the 28% in 2013.
Median and Average Sales Prices: The median sales price for Truckee Real Estate for 2014 stands at $537,000 which is up 21% from 2013 where the median sales price was $442,150 for the same period. The average sales price has gone up 29% to $845,636 as compared to last year’s average price of $654,534 for the same period.
Sales by Price Range or Market Segment: For the year, there have been 162 residential properties sold at a price below $500,000, 117 properties sold between $500,000 and $1,000,000 and 70 properties sold over $1,000,000.
Sales Under $500,000 Sales: The segment of the market with the highest level of sales activity are homes priced under $500,000 as over 46% of the sales or 162 properties have sold in this price range. In 2013 for the same period, there were 237 properties sold in this price range which represented 57% of the sales.
Luxury Home Sales, $1.0 Million +: Homes sales for properties priced above $1,000,000 have gone up 19% from last year. For 2014, there have been 70 luxury properties sold as compared to 59 properties sold last year for the same period. The median sales price for luxury properties in 2014 thus far is $1,775,000 as compared to a median price of $1,685,000 in 2013 which is up 5%. The average sales price of luxury homes in 2014 is $2,297,892 as compared to $1,900,085 in 2013 which is up 20%.
Mid-Range Market Sales: There have been 117 properties sold at a price between $500,000 and $1,000,000 representing 33% of total sales. For the same period in 2013, there were 118 properties sold in this price range which represented 28% of total sales.
Pending Sales: The pending sales through May 15th stood at 140 pending residential sales in the market which is down (16%) from the 168 pending sales from the last report.
Active Residential Inventory Summary:
Active Listings: The current inventory of residential properties has gone up roughly 25% from the end of April as more homeowners are listing their properties for the summer. There are currently 712 properties for sale; 495 single family homes and 217 condominiums for sale. For the same period in 2013, the active inventory was at 680 residential properties which is a slight 5% increase in inventory from last year to this year. Coldwell Banker has over 16% of the active listings in the market and continues to be the market leader for listings. Of the active listings, there are only 2 properties listed as short sales, and 2 properties listed as an REO sale.
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. CA-BRE License # 01209726