Market Stats for North Lake Tahoe – Truckee, January 2010

Looking back to 2009, our January sales were down to 25 for the entire Tahoe-Truckee region. In comparison 2010 is looking up; for the month of January sales totaled 61, of those 20 were bank owned and 6 were short sales translating to 42% distressed sales ( up from 37% in December). In 2009 we were not consistently tracking the bank owned and short sales as we were just coming into that era. January sales in Tahoe Donner (9) dropped off dramatically from the previous month of December (35). There are currently 106 listings available in Tahoe Donner and at the slowed pace will give us a supply of inventory of just about 1 year. Tahoe Donner generally leads the market area in activity, so I think it is safe to say that our merry-go-round ride continues. WEEEE!

Here are the statistics from the Tahoe MLS. The solds from December 1 – 31, 2009:

 

Tahoe Donner: 9 homes, (1 REO’s, 1 SS), 4 condos (2 REO’s)

Northstar: 2 homes (1REO), 0 condos

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 2 homes (2 REO’s)

Prosser Lake Area: 3 homes (1 REO)

Sierra Meadows, Ponderosa Palisades, Winter Creek: 6 homes (1 REO, 4 SS), 3 condos (2 REO)

Martiswoods, Ponderosa Ranchos: 1 home (trustee sale)

Olympic Heights: 0 homes

Lahontan: 2 residential propertiess

Timlick: 2 residential propertiess (2 SS)

Old Greenwood: 0 residential properties

Gray’s Crossing: 0 residential properties

Martis Camp: 0 residential properties

Truckee Proper: 1 residential properties

Donner Crest: 0 homes

Donner Lake: 1 home (1 REO), 0 condos

Donner Summit: 5 homes (1REO), 0 condos

West shore Lake Tahoe: 4 homes, 1 condo

Tahoe City: 0 homes, 2 condos

North shore Lake Tahoe: 3 homes (1SS), 0 Condos

Kings Beach & Tahoe Vista: 7 homes (6 REOs), 3 condos (1 REO)

Alpine & Squaw Valley: 1 home, 7 condos (5 REOs)

Shared Ownerships – entire region: 1 sale

Mobile Homes – entire region: 0 sales

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 8 (3SS)

Highest priced home or condo sold: Our highest price sale this month was a home located at 4330 North Lake Blvd. in Cedar Flat on the shores of Lake Tahoe. The sale price was $2,640,000, a bit off of the original price of $3,400,000. With over 100’ of shoreline including pier, boat lift and all the fixin’s of a proper lakefront estate this buyer pulled out his cash and closed the deal after just 87 days on the market.

Lowest priced home or condo sold: This bank owned condo sailed off of the market in just 10 days! Located on the 7th floor of the upscale Squaw Creek Resort in Olympic Valley, this studio unit listed and sold for $139,000. The thing is you can’t live here, just stay for a visit and be happy. You can’t get financing on these units so yes, this was another cash deal. It seems there are still some folks out there with a little cash in their pockets!

The list to sell ratio on the median was 95%. In other words, the homes sold within 95% of the list price. The median list price for this period was $429,000 median sale price was $410,000 down a bit from last month, but hey what do you expect?

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Pat Sutton – In Memorian

Truckee lost a true public servant on Saturday night January 30, 2010.  Pat Sutton, Mother, Wife, Business Owner, and Public Servant in this wonderful mountain town of Truckee, California was and always will be for me a real stand up person.

Pat was a real role model for all of us citizens.  She was profoundly ethical and forever the representative of the people.  Always questioning to be sure that she was doing the best to represent her constituents.

Pat served in various capacities over the years here in Truckee but will best be remembered (at least by me) as a director on the Truckee Donner Public Utility District Board.  She also had a stint as a Supervisor with Nevada County from 1981 until 1985 and served on the Lahontan Regional Water Quality Control Board from 1982 – 1986.

My memories of Pat mostly involve her tenacious review of PUD technical reports at board meetings.   Others in the audience would squirm with disinterest and impatience because they were forced to sit and wait until she was entirely satisfied with the explanation so that she could render an educated decision.  She seemed to revel in holding the room “hostage” while she asked many questions that had only long, arduous and, I might add — boring answers.  The district employee giving the report would, of course comply and the rest of the room would sleep while Pat sought satisfactory answers.

I will also miss the real and human side of Pat Sutton.  Great sense of humor, friendly and welcoming — always a great ambassador of Truckee.

Goodbye Pat, I will miss seeing you occasionally in the post office or talking to you once in a while when you answered the phone at Robert Sutton Paving.  Another Icon leaves this earth a better place.

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Condo sales North Lake Tahoe-Truckee 2006-2009

I can’t help it. Suddenly I have really gotten into having fun with the graphs. Lets see how this one turned out. The results are not as dramatic as the Single Family Residences I published earlier.

Here are the days on market and the amount of units sold comparison for the same years:

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Sales of Non-Lakefront Homes Truckee-Lake Tahoe 2004-2009

After I published my graph yesterday on the statistics covering ALL single family residences sold between 2006 and 2009, I got a call from a fellow agent who asked me if I could eliminate the lakefronts on the graph. Since I knew he had a good point and their high costs tend to askew the stats, I did the homework today and the result is the following graph. I also expanded the year range to homes purchased between January 1, 2004 and December 31, 2009 so we could get a really true picture of what just fell off the cliff over the past 2 years. So here it is David. Thanks for your question.

sales of nonlkfrnt 2004-2009 –

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Year End Truckee-Tahoe in Graph Form

For those of us who enjoy looking at the market via a graph, I have made these rudimentary graphs in order to put the numbers into a picture form. Every picture tells a story . . . . (Rod Stewart?)

Truckee NLTgraph SFR2009 –

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