Truckee – North Lake Tahoe Market Stats – October 2011

There was a respectable end to October, 2011 with 110 homes or condominiums changing hands.  Interestingly enough the short sales and bank owned properties seem to have slowed for out of this total, distressed sales amounted to only 20 of them or a mere 18%.  Another noteworthy occurrence this month was the amount of Squaw Valley/Alpine Meadows sales:  8 homes and 4 condos.  The news of the two ski areas merger seems to have made an impression on ski-happy buyers.  Tahoe Donner continues to outsell all of the rest of the subdivisions – a one sure bet for vacation home owners.

From the Tahoe MLS: the solds from October 1- 31, 2011:

Tahoe Donner: 20 homes (1REO), 0 condos

Northstar: 3 homes, 5 condos (1SS, 2REO)

Glenshire: 4 homes (1SS, 1REO)

Juniper Hill: 1 home

Lahontan: 2 homes

Prosser Lake Area: 2 homes, 1 condo

Sierra Meadows, Ponderosa Palisades: 2 homes  (1 REO), 0 condos

Olympic Heights: 2 homes (1SS, 1REO)

Winter Creek: 2 homes

Martis Camp: 1 home

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

Donner Lake: 5 homes (2 REO’s)

Donner Summit: 4 homes (1REO)

West shore Lake Tahoe: 6 homes, 1 condo

Tahoe City: 4 homes (1 REO)

North shore Lake Tahoe: 4 homes (1SS, 1 REO)

Kings Beach & Tahoe Vista: 4 homes, 5 condos (1 REO)

Alpine & Squaw Valley: 8 homes, 5 condos (1 REO)

Shared Ownerships – entire region: 4

Mobile Homes – entire region: 1

Sierra and Plumas Counties – 8 homes (1 REO)

Out of area: 3 homes

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

Highest priced home or condo sold:  4421 square foot,  4 bedroom, 4.5 bath home located at 10715 Bellingrath Court, in Martis Camp.  Part of this high priced and well received subdivision which includes a private lift into Northstar as one of its many amenities.  Another property sold with a $250,000 discount at $3,495,000 – CASH.

Lowest priced home or condo sold:  Sierra/Plumas had the least expensive home sold.  A little 3 bedroom, 2 bath home owned by Fannie Mae sold for $32,500.  Getting into the greater Tahoe Truckee Market area, affectionately described as an “extensive remodel” a little 2 bedroom 2 bath tear down in Truckee went out at $49,000 – full price.

The list to sell ratio on the median this month 98%. (leaving out Sierra-Plumas and Out of Area Sales).   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.  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..   The average days on the market were 127.  Total volume of residential properties (not unimproved lots) this month was $63,128,649.

North Lake Tahoe-Truckee Stats for August 2011

Wow, another slow month in August 2011.  Only 81 sales of condominiums and single family residences in the area, as compared to this time period last year down 19 properties.   This month’s ratio of total sales to distressed sales was 28%.  The market’s performance is highly unusual for this time of year as usually buyers begin to make decisions in July.  It will be interesting to see what kind of effect the debt ceiling debacle in Washington D.C. has on the closed sales in September, typically another strong finisher.

Tahoe Donner leads the pack again this month but even here the sales are uncharacteristically down from last month.

From the Tahoe MLS: the solds from August 1 – 31, 2011:

Tahoe Donner: 17 homes, 3 condos  (1 SS)

Northstar: 3 homes (1 REO), 2 condos (1SS)

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 9 homes  (2 REO, 1 SS)

Lahontan: 1 home

Prosser Lake Area: 3 homes (1 SS)

Sierra Meadows, Ponderosa Palisades: 1 home (1 SS)

Truckee Proper: 1 condo ( SS)

Donner Lake: 5 homes (1 SS & 1 REO)

Donner Summit: 1 home

West shore Lake Tahoe: 4 homes (1 SS)

Tahoe City: 4 homes, 3 condos (2 REO)

North shore Lake Tahoe: 2 homes, 1 condo

Kings Beach & Tahoe Vista: 3 homes (1 SS), 2 condos (2 SS)

Alpine & Squaw Valley: 3 homes (1 REO), 5 condos (1 REO, 1 SS)

Shared Ownerships – entire region: 8

Mobile Homes – entire region: 1

Sierra and Plumas Counties – 5 homes (2 REO, 1 SS)

Condos and Homes sold over $1M in Truckee & North Lake Tahoe: 9 homes

Highest priced home or condo sold:  4632 square foot,  5 bedroom, 4.5 bath Lake Tahoe Lakefront home on 2.5 acres with 117 feet of lake frontage sold for $6,450,000 cash.  Someone must have had his/her eye on this property as it was only on the market for 4 days.  The home was built in 2003 and includes a 3 bedroom 2 bath guest house.

Lowest priced home or condo sold:  Again, Sierra/Plumas wins the honor of having the least expensive home sold.  Wow, someone paid $9,900 cash for a 1058 square foot bank owned home in Chilcoot.  The amazing thing about this is that the home has no water source.  Getting into the greater Tahoe Truckee Market area, some buyer survived a short sale escrow to finally land 432 square foot condo in Kings Run on Brockway Summit.  The good news is that the buyer got the condo for half of its original price.  He brought in $60,000 cash.

The list to sell ratio on the median this month 96%. In other words, the homes sold within 96% of the list price.  The median list price for this period was $425,000, median sale price was $410,000.  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..   The average days on the market were 96.  Total volume of residential properties (not unimproved lots) this month was $54,330,387.

July 2011 Market Stats – Truckee-North Lake Tahoe Real Estate

We ended the long month (5 weekends to sell) of July 2011 with a lackluster total of 104 sales of condominiums and single family residences in the area.  This month’s ratio of total sales to distressed sales was 30%.

It is interesting to note that according to the Paragon Membership Stats,  there are currently 940 active agent members of the local Multiple Listing Service.  Not sure what point we are trying to make, just the facts.

The heads above the rest area for sales was Tahoe Donner once again.  It would appear as if the second home market is definitely carrying the load up here.  The full time markets of Glenshire and Prosser continue to show promise as bargain hunters are able to pick up some beautiful places for much reduced prices.

From the Tahoe MLS: the solds from July 1 – 31, 2011:

Tahoe Donner: 23 homes (1 REO), 5 condos

Northstar: 1 home, 2 condos (1SS, 1REO)

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 9 homes  (2 REO, 2 SS, 1 Trustee)

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

Sierra Meadows, Ponderosa Palisades: 3 homes (1 SS, 1 Trustee), 2 condos

Winter Creek & Ponderosa Meadows: 3 homes (1 REO)

Martis Camp: 1 home

Truckee Proper: 2 homes (1 SS, 1 REO), 2 condos (1 SS)

Donner Lake: 3 homes

Donner Summit: 4 homes

West shore Lake Tahoe: 8 homes (3 REO, 1 SS)

Tahoe City: 1 condo

North shore Lake Tahoe: 6 homes (1 SS)

Kings Beach & Tahoe Vista: 5 homes (3 SS), 3 condos (1 SS)

Alpine & Squaw Valley: 4 homes (1 REO), 3 condos (1 SS)

Shared Ownerships – entire region: 5

Mobile Homes – entire region: 2

Sierra and Plumas Counties – 10 homes (5 REO)

Condos and Homes sold over $1M in Truckee & North Lake Tahoe: 8 homes

Highest priced home or condo sold:  5401 square foot,  4 bedroom, 4.5 bath executive retreat built in Martis Camp by Loverde Builders fetched its asking price of $5,975,000 (although its original price was $6,690,000) after 713 days on the market.  $1,106.28 per square foot . . . .     WOW is all I can say.

Lowest priced home or condo sold:  Again, Sierra/Plumas wins the honor of having the least expensive home sold.  $20,274 bought this 1215 square foot bank owned home in Loyalton.  Getting into the greater Tahoe Truckee Market area, a 411 square foot golf course condo in Tahoe Donner went out at $108,900 after only 7 days on the market.

The list to sell ratio on the median this month 95%. In other words, the homes sold within 95% of the list price.  The median list price for this period was $369,000, median sale price was $350,000.  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..   The average days on the market were 122.  Total volume of residential properties (not unimproved lots) this month was $50,521,721.

June 2011 Market Stats Truckee-North Lake Tahoe

Some encouraging news for the June stats; sales finally moved upwards from a stagnant 79 residential sales in both April and May to a whopping 107 for the month of June AND distressed sales dropped to 29% down from 37% the previous month. We can only hope that the summer selling season has finally kicked into gear and that our buyers are not paying too much attention to the gloom and doom reports of the news forecasters. This just goes to show that we are in our own little world here and the sunshine has us all in a better mood for now at least.

Statistics from the Tahoe MLS: the solds from May 1 – 31, 2011:

Tahoe Donner: 20 homes (4 SS) (2 REO), 3 condos (2 SS)

Northstar: 1 home, 1 condo

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 8 homes (1 SS) (3 REO)

Olympic Heights: 0 residential properties

Prosser Lake Area: 2 homes

Sierra Meadows: 5 homes (3SS), 3 condos (2 SS) (1 REO)

Martiswoods, Ponderosa Ranchos: 1 home

Winter Creek: 0 residential properties

Lahontan: 1 home

Martis Camp: 1 home

Old Greenwood: 0 residential properties

Gray’s Crossing: 0 residential properties

Truckee Proper: 1 home

Donner Lake: 3 homes (1 SS) (1 REO) , 0 condos

Donner Summit: 0 residential properties

West shore Lake Tahoe: 11 homes (2 REO), 1 condo

Tahoe City: 4 homes ,1 condo

North shore Lake Tahoe: 1 home, 1 condo

Kings Beach & Tahoe Vista: 10 homes (1 REO), 2 condos (1SS) (1REO)

Alpine & Squaw Valley: 4 homes (1SS) (1REO), 12 condos (1REO)

Shared Ownerships – entire region: 3

Mobile Homes – entire region: 0

Sierra & Plumas Counties: 1 home (1 REO)

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 8 homes (2 SS)

Highest priced home or condo sold: New construction in Truckee’s exclusive Martis Camp. The home boasts 4,200 sq ft with 4 bedrooms + media room and office with views to Northstar’s Lookout Mountain. Reclaimed wood exterior and locally quarried stone highlight the abundant outdoor patio area. 10551 Fioli Dr. sold for #3,250,000

Lowest priced home or condo sold: Ski-in/ski-out at the Tahoe Donner Lodge.  This studio lodgette at 11591 Snowpeak Way sold for over asking price at $57,000. A perfect vacation get-away because your stay is limited to part time only. Nicely remodeled, third floor unit with panoramic views of the ski hill.

The list to sell ratio on the median was 99%.  In other words, the homes sold within 99% of the list price!  The median list price for this period was $410,000 and the median sale price was $404,000. 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. The average days on the market were 121.

May Market Stats

Mirroring April sales, May came in right at 79 residential sales with a slight nudge upward of distressed properties from 35% to 37%. We continue to be plagued by dismal weather despite the Memorial Day kick off to summer. Open houses have been quiet, but who really wants to home search in a snow storm? Buyers seem uncertain of where the market is heading and continue to sit on the sidelines waiting for who knows what?

 Statistics from the Tahoe MLS: the solds from May 1 – 31, 2011:   

 Tahoe Donner:  10 homes (1 SS), 4 condos (1 SS),

Northstar:  1 home (1 SS), 3 condo (1SS)

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows:  11 homes (3 SS) (3 REO)

Olympic Heights:  1 home (1 REO)

Prosser Lake Area:  2 homes (1 SS), (1 REO)

Sierra Meadows: 1 home (1 REO), 3 condos (2 REO)

Martiswoods, Ponderosa Ranchos:   1 home

Winter Creek:   0 residential properties

Lahontan:  1 home

Old Greenwood:  0 residential properties

Gray’s Crossing:  1 home (1 REO)

Truckee Proper:   0 residential properties

Donner Lake:    2 homes, 0 condos

Donner Summit: 0 residential properties

West shore Lake Tahoe:  4 homes (1 SS), 1 condo (1 REO)

Tahoe City:  2 homes, 2 condos  

North shore Lake Tahoe:  4 homes, 0 Condos

Kings Beach & Tahoe Vista:  2 homes (1 REO), 1 condo

Alpine & Squaw Valley:  3 homes (1SS), 8 condos (2 SS), (1REO)

Shared Ownerships – entire region:  6

Mobile Homes – entire region:  2

Sierra & Plumas Counties: 1 home (1 REO)

 Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 4 homes

 Highest priced home or condo sold: Beautiful secluded home at 11787 Sierra Dr. is located within the Truckee town limits. Three parcels sold as one provide 28 acres of privacy and views. This 4,000+ sf home boasts 4 bedrooms and 4.5 bathrooms with quality features and design elements that are sure to please its new owner.  Previously listed as one of our best buys this gem sold for $1,675,000.

 Lowest priced home or condo sold: Referred to as a “diamond in the rough” but hey what do you want for $37,500? For that price tag the buyer of 94445 Day St. Chilcoot, Ca. of the Sierra Valley received 5 acres with two car garage and studio addition. With well and septic in place this banked owned property may be a stretch for a residence, but that is how it was listed. Potential is what we would call it.

 The list to sell ratio on the median was 99%.  In other words, the homes sold within 99% of the list price!  The median list price for this period was $399,000 and the median sale price was $395,000. 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. The average days on the market were 138.

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