North Lake Tahoe Truckee Stats for October 2009

We are on a roll.  This month’s stats say that 134 condos and homes sold in our Truckee North Lake Tahoe area. It seems as though the Lake Tahoe side is picking up some steam especially in the Kings Beach and Tahoe Vista area.  Lots of people are taking advantage of the low prices.  Out of the 134 sold, only 17% of the properties were distressed (again more REO or bank owned properties than short sales).  This is probably the result of buyers giving up on the slow moving process of the short sale and either getting into a sure thing like a bank owned property for sale or a non-distressed but competitively priced standard sale.  Note the increase in the median sale price over last month (October-$477,500, September-$449,000), maybe there is some positive news here?  Here are the statistics from the Tahoe MLS.  The solds from October 1 – 31, 2009:

Tahoe Donner: 30 homes, (3 REOs,), 5 condos (1 REO)

Northstar: 2 homes, 9 condos (1 REO)

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 11 homes (2 ss 2 REOs)

Prosser Lake Area: 6 homes (2 REOs)

Sierra Meadows, Ponderosa Palisades, Winter Creek: 5 homes (1 REO) 1 condo

Martiswoods, Ponderosa Ranchos: 0 residential properties

Olympic Heights: 0 residential properties

Lahontan: 2 homes

Timlick: 0 residential properties

Old Greenwood: 0 residential properties

Gray’s Crossing: 0 residential properties

Martis Camp: 1 home

Truckee Proper: 1 home (REO), 2 condos (1 REO)

Donner Crest: 0 residential properties

Donner Lake: 3 homes

Donner Summit: 1 home

West shore Lake Tahoe: 20 homes (1 REO), 1 condo

Tahoe City: 5 homes, 3 condos

North shore Lake Tahoe: 1 home, 2 condos

Kings Beach & Tahoe Vista: 13 homes (2 ss, 2 REOs), 3 condos

Alpine & Squaw Valley: 13 homes (1 REO), 3 condos (2 REOs)

Shared Ownerships – entire region: 2 sales

Mobile Homes – entire region: 0 sales

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 13

Highest priced home or condo sold:  a $4,750,000 Lake Tahoe Lakefront home located in Homewood at 5090 West Lake Blvd.  This 3700 square foot 4 bedroom, 4.5 bath, 2 car garage home was on the market originally for $5,900,000 and after 365 days on the market, it sold for – HOLD ON HERE FOLKS – CASH!

Lowest priced home or condo sold:  at $99,000 this studio condo located at Tahoya Shores, again a Lake Tahoe lakefront condo project.  After 70 days on the market it sold for its asking price, again CASH.

The list to sell ration on the median was 94%.  In other words, the homes sold within 94% of the list price.  The median list price for this period was $509,450, median sale price was $477,000.  Moving up.