June Tahoe-Truckee Sales Statistics

Sales of homes and condos in the Truckee – North Lake Tahoe regions continue to inch downward from 73 sales last month (and down from the previous month) to 62 sales for the month of June. The distressed properties (bank owned REO’s or short sales) amounted to 18 of these (including one trustee sale) or 29% of the total sales. Even though the buyer incentive programs have mostly ended, interest rates remain the best seen in years, and with a healthy inventory and motivated sellers there is plenty of reason for buyers to continue shopping. JK Real Estate has been doing our part to help hold up these sales, but we look to our good clients and friends to help keep us busy too. We do appreciate your referrals!

Statistics from the Tahoe MLS: The solds from June 1 – 30, 2010:

Tahoe Donner: 15 homes, (2 SS), 2 condos
Northstar: 2 homes , 1 condo
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 6 homes (2 SS) (2 REO)
Prosser Lake Area: 1 home
Sierra Meadows, Ponderosa Palisades, Winter Creek: 3 homes, 1 condos (1 SS)
Martiswoods, Ponderosa Ranchos: 0 homes
Olympic Heights: 1 home
Lahontan: 1 home
Timlick: 0 residential properties
Old Greenwood: 1 home (1 SS)
Gray’s Crossing: 0 residential properties
Martis Camp: 0 residential properties
Truckee Proper: 1 home, 1 condo
Donner Crest: 0 residential properties
Donner Lake: 0 residential properties
Donner Summit: 6 homes (1REO) (1 trustee sale), 0 condos
West shore Lake Tahoe: 7 homes (1 REO), 0 condo
Tahoe City: 4 homes (1 SS) (1 REO), 2 condos
North shore Lake Tahoe: 4 homes (2SS) (1REO), 0 Condos
Kings Beach & Tahoe Vista: 6 homes (2 SS), 2 condos (1 SS) (1 REO)
Alpine & Squaw Valley: 3 homes, 7 condos (1 SS) (1 REO)
Shared Ownerships – entire region: 4 sale
Mobile Homes – entire region: 0 sales

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 7

Highest priced home or condo sold: Our highest price sale this month was a home located at 7701 West Lake Blvd. in Meeks Bay. After 337 days on the market and never moving off of their list price of $16,600,000, they finally accepted an offer of $12,400,000. A classic and rare Lake Tahoe estate with 490 ft of pristine shoreline and nearly 5 acres of land. Included are 4 residences, tennis court, pier, bouys and an old style 100 ft. two story boat house with rail system. Only for the rest of us to dream about!

Lowest priced home or condo sold: Yes it is another bank owned condominium. This one located in Tahoe Vista in the lakefront Tahoya Shores complex. With a sandy beach and swimming pool this studio condo makes for a perfect vacation getaway. They originally were asking $89,900 then reduced their price to $79,900 and after 63 days on the market the bank was willing to let this one go for just $71,000.

The list to sell ratio on the median was 92%. In other words, the homes sold within 92% of the list price. The median list price for this period was $500,975 median sale price was $463,074. Perhaps our highest priced sales nudged these numbers up just a bit, what do you think?