North Lake Tahoe- and Truckee Real Estate
Residential Properties – Single Family Homes and Condominiums
Period: April 15th to April 30th
Residential Sales Summary 2014
Total Sales: Through the end of April there have been 288 residential properties sold in the market. For the same period in 2013, there were 362 residential properties sold which is a year over year decrease in sales of (20%). Of the total sales in the market this year, 205 have been single family homes, while 83 were condominiums. Condominiums have represented almost 29% of total sales. In 2013 for the same period, there were 283 single family homes sold and 79 condominiums. Condominiums represented almost 28% of the sales. Coldwell Banker ranks #1 among all brokerages on a year to date basis in both total units sold, 137 and total sales volume, $87 million.
REO & Short Sales: For 2014 thus far, short sale properties closed have gone down (64%) with 18 closed short sales as compared to 51 closed short sales in 2013. Similarly, REO properties closed in 2014 have gone down (32%) with 15 properties closed in 2014 as compared to 22 REO sales in 2013. Overall, distressed property sales, (REO and Short Sales) represent 11% of the sales in 2014 which is significantly less than the 20% in 2013.
Median and Average Sales Prices: The median sales price for residential real estate in Truckee and North Lake Tahoe for 2014 stands at $517,000 which is up 16% from 2013 where the median sales price was $446,400 for the same period. The average sales price has gone up 24% to $822,956 as compared to last year’s average price of $663,817 for the same period.
Sales by Price Range or Market Segment: For the year, there have been 140 residential properties sold at a price below $500,000, 94 properties sold between $500,000 and $1,000,000 and 54 properties sold over $1,000,000.
Under $500,000 Sales: The segment of the market with the highest level of sales activity are homes priced under $500,000 as over 48% of the sales or 140 properties have sold in this price range. In 2013 for the same period, there were 207 properties sold in this price range which represented 57% of the sales.
Luxury Home Sales: Homes priced above $1,000,000 are almost identical to last year as there have been 54 luxury properties sold in 2014 as compared to 53 properties sold last year for the same period. The median sales price for luxury properties in 2014 thus far is $1,755,000 as compared to a median price of $1,650,000 in 2013 which is up 6%. The average sales price of luxury homes in 2014 is $2,298,481 as compared to $1,932,051 in 2013 which is up 19%. Man of these Sales have occurred in Martis Camp.
Mid-Range Market Sales: There have been 94 properties sold at a price between $500,000 and $1,000,000 representing 32% of total sales. For the same period in 2013, there were 102 properties sold in this price range representing 28% of total sales.
Pending Sales: The pending sales through the end of April stood at 168 pending residential sales in the market which is up 13% from the last report.
Active Residential Inventory Summary:
Active Listings: The current inventory of residential properties in Truckee and North Lake Tahoe stands at 567 properties for sale; 361 single family homes and 206 condominiums for sale. For the same period in 2013, the active inventory was at 548 residential properties which is a slight 3% increase in inventory from last year to this year. Of the active listings, there are only 3 properties listed as short sales, and no 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, Bret Churchman 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 # 01908724