North Lake Tahoe – Truckee Stats for July 2010

The North Lake Tahoe-Truckee market seems to have rebounded from a low of 62 sales in June to 88 sales during the month of July 2010.  Of those 88 sales of single family and condo’s, 23 were distressed properties or 26% of sales. If you have been following our monthly updates, you will be aware that this number has gradually decreased since the beginning of the year when the distressed portion of the market was a whopping 43%. We keep hearing that there will be more distressed sales coming but thus far that hasn’t happened.  The fact that all of these standard sales have happened tells us that the Sellers are listening to the market which was set by the distressed sales.

From the Tahoe MLS: the solds from July 1 – 31, 2010:

Tahoe Donner: 13 homes, (1 REO), 3 condos, (1 REO)

Northstar: 1 homes, 1 condos

Gray’s Crossing: 1 home (SS)

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

Prosser Lake Area: 1 home (1REO)

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

Olympic Heights: 1 home (SS)

Lahontan: 2 homes

Timlick: 0 residential properties

Old Greenwood: 0 residential properties

Martis Camp: 0 residential properties

Truckee Proper: 2 homes, 1 condos

Donner Crest: 0 residential properties

Donner Lake: 2 homes, 1 condo

Donner Summit: 2 homes

West shore Lake Tahoe: 12 homes (3 REO, 2 SS), 1 condo

Tahoe City: 5 homes (1 REO)

North shore Lake Tahoe: 6 homes (1 SS), 2 condos

Kings Beach & Tahoe Vista: 6 homes (2 REO, 1 SS), 4 condos (2 REO)

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

Shared Ownerships – entire region: 5

Mobile Homes – entire region: 4

Sierra & Plumas Counties: 6 homes (2 REO)

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

Highest priced home or condo sold:  A 8.8 acre parcel containing a 5640 square foot home which was built in 2006.  This 5 bedroom, 5.5 bath home, located at 6280 RiverRoad in Squaw Valley went for $1,100,000 less than its asking price of $5,950,000.  Guess the seller looked at the fact that the buyer brought ALL CASH and decided to take the offer seriously.  This is when making a “low ball” offer makes sense.

Lowest priced home or condo sold:  Just to reiterate the old saying “cash is king” the lowest priced home went for all cash too.  A little bank owned home located in Portola went out at $45,000 (asking price $55,900).  Somebody just got a nice little place.  Who says that there are no deals out there?

The list to sell ratio on the median this month 98%. In other words, the homes sold within 98% of the list price.  The median list price for this period was $440,000 median sale price was $420,000.   This median sale and list price continues to inch down.   Using the median price tends to take the extreme highs and lows out of the picture as it is based on the sale of the house in the middle of the pack. 

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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?

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North Lake Tahoe Truckee Stats for May 2010

Sales of homes and condos in the Truckee North Lake Tahoe areas were off this month, receding from 93 properties last month to only 73 this May.  The distressed properties (bank owned REOs or short sales SS) amounted of 20 of these or 27%.   Once again, the Tahoe Donner area posted the most sales at 17 homes and 6 condos.  Not too much going on over in the Lake Tahoe Basin as only 12 properties sold there (we sold one of these).  From the Tahoe MLS: the solds from May 1 – 31, 2010:

Tahoe Donner: 14 homes, (1 SS), 6 condos, (1 REOs)

Northstar: 2 homes, 5 condos (1 SS)

Gray’s Crossing: 1 home (1 REO)

Pine Forest: 1 home

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 2 homes

Prosser Lake Area: 3 homes (1 SS, 1REO)

Sierra Meadows, Ponderosa Palisades, Winter Creek: 3 homes (1 REO)

Martiswoods, Ponderosa Ranchos: 0 residential properties

Olympic Heights: 0 residential properties

Lahontan: 1 home (1 SS)

Timlick: 0 residential properties

Old Greenwood: 0 residential properties

Martis Camp: 1 home

Truckee Proper: 4 homes (1 REO, 1 SS), 3 condos

Donner Crest: 1 home (1REO)

Donner Lake: 2 homes (1 SS), 1 condo (1 REO)

Donner Summit: 1 home, 1 condo

West shore Lake Tahoe: 3 homes

Tahoe City: 3 homes (1 REO)

North shore Lake Tahoe: 2 homes

Kings Beach & Tahoe Vista: 4 homes (1 REO)

Alpine & Squaw Valley: 1 home, 3 condos (2 SS)

Shared Ownerships – entire region: 4

Mobile Homes – entire region: 3

Sierra & Plumas Counties: 2 homes (1 REO), 2 condos (1 REO)

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

Highest priced home or condo sold:  a luxury condominium at Northstar’s new complex called the Highlands.  14008 Trailside Loop.  This 4 bedroom, 4.5 bath 3427 Square foot condo barely made it to market before it sold – in house with Tahoe Mountain Resorts for $3,650,000.  The buyer paid, once again ALL CASH!

Lowest priced home or condo sold:  Unit #211 at Donner Lake Village came in at $62,000, after 57 days on the multiple listing service.  This 364 square foot lodgette was bank owned and located at the west end of Donner Lake.  Convenient for Lake lovers, and with one bedroom, maybe just enough for this buyer who paid ALL CASH!

The list to sell ratio on the median this month lowered to 98%.  In other words, the homes sold within 98% of the list price.  The median list price for this period was $449,000 median sale price was $440,000.   This median sale and list price does seem to continue to inch down.  Still lots of opportunities out there for bargain hunters!!

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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.

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Truckee-Tahoe Keller Williams Stats March 2009-2010

Here are the graphs that cover the period of time from March 31, 2009 through March 31, 2010.  Still shows Keller Williams an overall leader in the Truckee Tahoe area.

Sold12 Months All Areasmarch2010

Just looking at the Truckee area:

Sold12 Months Areas7%2c8%2c9march2010 –

And finally, the listings in Tahoe Donner (condos and homes):

Keller Williams Choice Chartslistingstd –

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