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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