May 2009 Truckee-North Lake Tahoe Stats

Here are the stats for the month of May 2009.  As predicted, things are definitely looking up.  Last month only 39 single family residences (including condos) closed escrow.  This month brought 65 brave souls to the table.  Again the market in Tahoe Donner continues to be consistent, albeit a shadow of its former self. 

Additionally some the luxury homes in Old Greenwood and Northstar are attracting buyers.  There are some really good deals out there in that market.  A buyer will not be able to reproduce some of these residences at the price they are offered – ever. 

The full time market is still very slow, with lots of short sales which are really confusing the poor sellers who aren’t in trouble except that for some reason or other (new job opportunity, retirement, etc) they have to move on.  We are going to have to find some “creative” ways to help these customers.  In the meantime:  here are the numbers from our Tahoe Sierra Multiple Listing Service.  Again, unless noted, the properties were sold as standard sales, not short sales or REO’s (bank owned properties).

Tahoe Donner:  16 homes, (2 are short), 1 condo

Northstar:  2 homes, 2 condos

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows:   4 homes (2 REO, 1 short)

Prosser Lake Area:  1 homes

Sierra Meadows, Ponderosa Palisades, Martiswoods, Ponderosa Ranchos:  0 homes

Olympic Heights:  1 home

Lahontan:  0 residential properties

Old Greenwood:  3 homes (1 short)

Gray’s Crossing:  0 residential properties

Truckee Proper:  3 home (2 REO)

Adjacent to Tahoe Donner:  0 residential properties

Donner Lake:  5 homes

Donner Summit:  4 homes

West shore Lake Tahoe:  7 homes (1 short)

Tahoe City:   1 home

North shore Lake Tahoe:  1 home

Kings Beach & Tahoe Vista:  6 homes (2 short, 1 REO), 2 condos

Alpine & Squaw Valley:  2 homes

Shared Ownerships – entire region:  3

Mobile Homes – entire region:  1

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 10

Highest priced home or condo sold:  $2,500,000 4500 square foot home located on Lookout Loop in Old Greenwood.  Original price was $2,950,000, spent only 54 days on the market.  Conventional loan.

Lowest priced home or condo sold:  $216,000 for a studio condo in North Lake Tahoe’s Franciscan project. Originally priced for $225,000 it sold after 37 days on the market for all cash.