Market Stats for Truckee-North Lake Tahoe April 2010

The weather was sketchy this past month, but the sun must have flushed a few buyers up here.  Sales of homes and condos in the Truckee North Lake Tahoe areas picked up a bit.  During April 93 homes and condos changed hands. The distressed properties continue to play a big part as a record 41% of these sales were either bank owned sales (REO’s) (20) or Short Sales (19).  The leader of the pack again was the ever popular Tahoe Donner with 22 home sales and 5 condos sold.  Lake Tahoe’s Westshore a distant second with 8 homes and 2 condos.  Glenshire seems to be the hardest hit by the market – out of  7 sales there this month, 6 were distressed sales.   From the Tahoe MLS: the solds from April 1 – 30, 2010:

Tahoe Donner: 22 homes, (2 REO, 3 SS), 5 condos, (1 REOs, 2 SS)

Northstar: 0 homes , 6 condos (1 REO)

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 7 homes (1 REO, 5 SS)

Prosser Lake Area: 1 home

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

Martiswoods, Ponderosa Ranchos: 0 residential properties

Olympic Heights: 1 home (1 SS)

Lahontan: 0 residential properties

Timlick: 0 residential properties

Old Greenwood: 0 residential properties

Gray’s Crossing: 4 homes (1 REO, 2 SS)

Martis Camp: 0 residential properties

Truckee Proper: 4 homes (2 REO, 1 SS), 1 condo (1 REO)

Donner Crest: 0 residential properties

Donner Lake: 0 residential properties

Donner Summit: 5 homes (1 REO, 1 SS)

West shore Lake Tahoe: 8 homes (3 REO), 2 condos

Tahoe City: 5 homes (2 REO)

North shore Lake Tahoe: 2 homes, 1 condo

Kings Beach & Tahoe Vista: 3 homes (1 REO, 1 SS)

Alpine & Squaw Valley: 2 homes,  10 condos (3 REO, 1 SS)

Shared Ownerships – entire region: 3

Mobile Homes – entire region: 2 (1 REO)

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 11 (2 SS)

Highest priced home or condo sold:  3795 Belleview Ave. a lakefront in Homewood  had its namesake: a “beautiful view” and sold at $5,450,000 – CASH, after only 3 days on the market.  Owners got their asking price here.  This is a perfect case of the square footage having nothing to do with the selling price.  This place was tiny at only 2724 square feet, built in 1952 with 4 beds, 4 baths and a 2 car garage.  It must have been one of those “have to have” purchases — $2000.73 per sqft.  Hummmmm.

Lowest priced home or condo sold:  Unit #427 at the Resort at Squaw Creek, was bank owned and went out at $164,900 after 2 days on the market.  The buyer paid cash on this one too.  Only 641 square feet but all sorts of luxury at your fingertips the location in Squaw Creek makes this a tidy little package.

The list to sell ratio on the median this month lowered to 94%.  In other words, the homes sold within 94% of the list price.  The median list price for this period was $479,000 median sale price was $450,000.