Market News
Current Market Stats :
Week of: May 17th to May 21st
Active Inventory Summary:
Active Listings: The active listing inventory for the Tahoe-Truckee market increased 3.5% from the previous week as more homeowners are putting their homes on the market for the summer season. Currently there are 1,817 active listings in the market; 1,255 residential properties and 561 lots and land listed for sale. Coldwell Banker has over 15% of the listings in the market.
REO-Short Sale Listings: Of the active listings, there are 149 properties listed as short sales, (8%) and 58 properties listed as REO sales, (3%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 16-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location.
Sales Summary:
Total Sales 2010 Vs 2009:
For 2010, year to date (YTD), there have been 472 properties sold in the market as compared to 265 for the same period in 2009 which is a 78% increase in sales.
Of the properties sold, 108 were REO’s, (23%), and 67 were Short Sales, (14%) which results in 37% of the properties sold being a short sale or REO. In 2009 for the same period, there were 32 REO sales and 27 short sales or 22% total.
For 2010, there have been 302 properties sold priced below $500,000, 123 properties sold between $500,000 and $1,000,000 and 47 properties sold over $1,000,000.
Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold year to date in 2010 is $400,000 while the average sale price is $526,586. For the same period in 2009, the median sales price was $450,000 and the average sales price was $580,943 which is an (11%) and (9%) decline in price respectively year over year for the same period of time.
Last Week’s Sales: For the week of May 17th to May 21st, a total of 17 properties sold which was the lowest single week of sales since the first week of March. Of the properties sold last week two (2) of the properties sold were over $1.0 million.
Pending Sales: Pending sales wend up slightly from the previous week to 183 properties.
Market Activity Summary:
This past week the Tahoe-Truckee area experienced some winter weather which may have been the reason for a slower sales week where only 17 properties sold for the week. That being said, there continues to be a great deal of activity brewing and continued buyer interest in our market.
With residential and lot sales up 78% from the previous year, it points to the fact that astute buyers continue to show strong interested in investing in Tahoe-Truckee real estate which is priced in some cases at 2001 price levels.
One of the key reasons for the spike in unit sales is highly influenced by the drop in home prices. The median sales prices have decreased by 11% to $400,000 and average sales prices have decreased by 9% to $526,586.
We continue to see a greater percentage of sales in the REO and Short Sale arena as roughly 37% of our sales are either REO’s or Short Sales. However, there is still considerable interest in non distressed properties as many are priced at levels that are too good to pass up.
We are continuing to see the trend for sales towards homes priced under $500,000 with 64% of the sales this year being in this price range.
Weekly Sales and Market Activity Report
North Lake Tahoe-Truckee Region
Week of: April 19th to April 25th
Active Inventory Summary:
Active Listings: The active listing inventory for the Tahoe-Truckee increased slightly from the previous week. Currently there are 1,638 active listings - 1,120 residential properties and 518 lots and land listed for sale.
Active REO-Short Sale Listings: Of the active listings, there are 152 properties listed as short sales, (9%) and 55 properties listed as REO sales, (3%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 11-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.
Sales Summary:
Total Sales 2010 Vs 2009:
For 2010, year to date (YTD), there have been 376 properties sold in the market as compared to 200 for the same period in 2009 which is an 88% increase in sales.
Of the properties sold, 90 were REO’s, (24%), and 56 were Short Sales, (15%) which results in 39% of the properties sold being a short sales or REO. In 2009 for the same period, there were 25 REO sales and 20 short sales or 23% total.
For 2010, there have been 237 properties sold priced below $500,000, 106 properties sold between $500,000 and $1,000,000 and 33 properties sold over $1,000,000.
Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold year to date in 2010 is $400,000 while the average sale price is $514,844. For the same period in 2009, the median sales price was $436,250 and the average sales price was $579,706 which is an (8%) and (11%) decline in price respectively year over year for the same period of time.
Last Week’s Sales: For the week of April 19th to 25th, a total of 25 properties sold which is consistent for the three previous weeks. Of the properties sold last week three (3) were sold with a price over $750,000.
Pending Sales: Pending sales have increased from the previous week to 180 properties.
Market Activity Summary:
What do you say when home sales are up 88% year over year for the same period except that savvy buyers are interested in investing in Tahoe-Truckee real estate that is priced right and that the inventory of good homes to choose from is meeting their needs.
The month of April has been outstanding with over 126 properties sold so far this month and we still have another week. April has been the largest sales month of the year and all indications are that this last week will be equally strong.
One of the key reasons for the spike in unit sales is likely due to the fact that median and average sales prices for properties have gone down as compared to the 2009 prices for the same period. Median sales prices have decreased by 8% to $400,000 and average sales prices have decreased by 11% to $514,844. It certainly stands to reason that continued favorable pricing is fueling the robust sales activity.
We are continuing to see the trend for sales towards homes priced under $500,000 with 63% of the sales this year being in this price range. REO and Short sales are occurring at a much greater rate this year than last year as roughly 38% of our sales are either REO or short sales. Within the under $500,000 price segment of the market we are often seeing multiple offer situations occur routinely.
We continue to see solid activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.
Weekly Sales and Market Activity Report
North Lake Tahoe-Truckee Region
Week of: January 25th to January 31st
Active Inventory Summary:
Active Listings: The active listing inventory for the Tahoe-Truckee market stayed relatively flat from the previous week. Currently there are 1,543 active listings - 1,040 residential properties and 503 lots and land listed for sale.
Active Listings - REO’s and Short Sales: Of the active listings, there are 157 properties listed as short sales, (10%) and 57 properties listed as REO sales, (4%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 16-months of inventory available. The inventory of homes and land at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a bigger home or better location in the Tahoe-Truckee market.
Sales Summary:
Total Sales Year-to-Date 2010 Vs 2009:
January sales off to a fast start! On a year to date (YTD) basis there have been 71 properties sold in the market as compared to 36 for the same period in 2009 which is a 97% increase.
For properties sold YTD 2010, 25 were REO’s, (35%), and 7 were Short Sales, (10%) which results in 45% of the properties sold being a short sales or REO. In 2009 for the same period, there were no 2 REO sales and only 4 short sales.
For 2010, there have been 50 properties sold priced below $500,000, 16 properties sold between $500,000 and $1,000,000 and 5 properties sold over $1,000,000.
Median and Average Sales Prices 2010 Vs 2009: The median sales price for properties sold YTD in 2010 is $388,000 while the average sale price is $510,732. For the same period in 2009, the median sales price was $377,450 and the average sales price was $506,080 which is a 3% and 1% improvement in price respectively for one year.
Last Week’s Sales: For the week of January 25–31, sales went up from the previous week with 21 properties sold. Of the properties sold last week, two (2) of those sold at a price above $750,000. Coldwell Banker was involved in 7 of the 16 properties sold or 33%.
Pending Sales: Pending sales are at 148 properties which is a slight increase from the previous week.
Market Activity Summary:
In the early going of 2010 sales are up 97% from the same time last year which is a positive indication that 2010 is going to see more inventory movement that in 2009. The median and average prices for properties have increased slightly for the year thus far but we anticipate median sales prices year over year will ultimately be lower as the year progresses. We are continuing to see the trend for sales towards homes priced under $500,000 with 70% of the sales this year being in this price range. Homes sold as REO’s are 35% of the sales which is a higher amount than our averages for 2009.
We continue to see solid activity in the market as buyers are very interested in taking advantage of our large inventory of properties that are priced at 2003 levels.
Coldwell Banker currently has over 41 homes in escrow scheduled to close in the next 30-60 days.
Tahoe-Truckee Homes Prices are at 2003 Levels…
Now is a Great Time to Buy or Move-Up in this Market!
Week of September 14th to 20th
Inventory Summary:
Active Listings: The listing inventory for the Tahoe-Truckee market went down slightly for the week to 2,256 active listings - 1,575 residential properties and 681
Week of September 7th to 13th
Inventory Summary:
Active Listings: The listing inventory for the Tahoe-Truckee market went down 2% for the week to 2,269 active listings - 1,587 residential properties and 682 lots and land listed for sale.
REO’s and Short Sales Active Listings: Of the active listings, there are 159 properties listed as short sales, (7.0%) and 63 properties listed as REO sales, (2.8%). Overall, the Tahoe-Truckee market has less than 10% of its active inventory listed as a short sale or REO.
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 17-months of inventory available. Lot’s to choose from if you are a buyer!
Weekly Sales and Market Activity Report
North Lake Tahoe-Truckee Region
Week of July 20th to July 26th
Inventory Summary:
Active Listings: The listing inventory for the Tahoe-Truckee market remained flat from last week at 2,379 active listings in the market - 1,687 residential properties and 692 lots/land listed for sale.
REO’s and Short Sales: Of the active listings, there are 142 properties listed as short sales, (6.0%) and 60 properties listed as REO sales, (2.5%). Overall, the Tahoe-Truckee market has less than 9% of its active inventory listed as a short sale or REO.
Inventory: Based on the current inventory and sales year to date the market has roughly 24-months of inventory available.
Sales Summary:
Total Sales 2009 Vs 2008: On a year to date (YTD) basis there have been 446 properties sold in the market as compared to 544 for the same period in 2008 which is (18.0%) reduction in sales. For properties sold YTD 2009, 56 were REO’s, (12.6%), and 47 were Short Sales, (10.5%). For 2009, there have been 250 properties sold < $500,000, 147 properties sold between $500,000 and $1,000,000 and 49 properties sold > $1,000,000.
Median and Average Sales Prices 2009 Vs 2008: The median sales price for the properties sold YTD in 2009 dropped to 451,500 while the average sale price is dropped to $571,622. For the same period in 2008, the median sales price was $515,000 and the average sales price was $723,707 which is an (12.3%) and (21.0%) reduction in price respectively.
Last Week’s Sales: For the week of July 20th to July 26th, there were 18 properties which closed in the market with four (4) of those sold at a price above $750,000. This past week’s closings were down from the previous week.
Pending Sales: Pending sales in the market increased to 174 which is slightly higher from the previous week.
Market Activity Summary:
Open house activity was fairly light last week. Coldwell Banker open houses yielded average to low traffic depending on the location. Sales Associates are continuing to see more buyer activity and more and more are writing offers than in the previous six-months. Coldwell Banker currently has over 54 homes in escrow which is 31% of the pending escrows.
Bitmap
Mid-Year Review
2009 vs. 2008
January - June
SINGLE FAMILY HOMES
CONDOMINIUMS
NORTH LAKE TAHOE-TRUCKEE (Areas 1-9)
NORTH LAKE TAHOE-TRUCKEE (Areas 1-9)
TOTAL MARKET
TOTAL MARKET
2009
2008
% Change
2009
2008
% Change
Sales Volume
$163,217,350
$229,544,437
-28.9%
Sales Volume
$23,331,050
$61,065,592
-61.8%
Units Sold
241
263
-8.4%
Units Sold
41
65
-36.9%
Median Price
$550,000
$635,000
-13.4%
Median Price
$397,500
$578,000
-31.2%
Average Price
$682,917
$872,792
-21.8%
Average Price
$569,050
$939,470
-39.4%
Units < $500 Thousand
106
80
32.5%
Units < $500 Thousand
25
23
8.7%
Units < $500-$999,999
104
129
-19.4%
Units > $500 Thousand
16
42
-61.9%
Units > $1.0 Million
31
54
-42.6%
DOM Median
113
84
34.5%
DOM Median
92
100
-8.0%
DOM Average
329
162
103.1%
DOM Average
136
135
0.7%
NORTH LAKE TAHOE (Areas 1-5)
NORTH LAKE TAHOE (Areas 1-5)
Kings Beach To Tahoe City To Emerald Bay
Kings Beach To Tahoe City To Emerald Bay
2009
2008
% Change
2009
2008
% Change
Sales Volume
$45,646,750
$67,323,857
-32.2%
Sales Volume
$5,983,000
$7,685,000
-22.1%
Units Sold
59
68
-13.2%
Units Sold
12
8
50.0%
Median Price
$570,000
$652,500
-12.6%
Median Price
$433,750
$632,500
-31.4%
Average Price
$787,012
$990,056
-20.5%
Average Price
$498,583
$960,625
-48.1%
Units < $500 Thousand
25
23
8.7%
Units < $500 Thousand
7
2
250.0%
Units < $500-$999,999
26
34
-23.5%
Units > $500 Thousand
5
6
-16.7%
Units > $1 Million
8
11
-27.3%
DOM Median
84
182
-53.8%
DOM Median
87
85
2.4%
DOM Average
143
175
-18.3%
DOM Average
134
125
7.2%
Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data's accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. DRE License # 00313415
Bitmap
Mid-Year Review
2009 vs. 2008
January - June
SINGLE FAMILY HOMES
CONDOMINIUMS
TRUCKEE MARKET (Areas 7-9)
TRUCKEE MARKET (Areas 7-9)
Truckee - Glenshire - Martis Valley - Tahoe Donner - Soda Springs
Truckee - Glenshire - Martis Valley - Tahoe Donner - Soda Springs
2009
2008
% Change
2009
2008
% Change
Sales Volume
$109,738,100
$143,238,330
-23.4%
Sales Volume
$16,103,050
$41,492,354
-61.2%
Units Sold
173
184
-6.0%
Units Sold
27
40
-32.5%
Median Price
$524,500
$615,000
-14.7%
Median Price
$374,000
$565,000
-33.8%
Average Price
$638,012
$778,769
-18.1%
Average Price
$596,409
$1,037,308
-42.5%
Units < $500 Thousand
80
57
40.4%
Units < $500 Thousand
15
15
0.0%
Units < $500-$999,999
73
88
-17.0%
Units > $500 Thousand
12
25
-52.0%
Units > $1 Million
20
39
-48.7%
DOM Median
180
58
210.3%
DOM Median
93
111
-16.2%
DOM Average
434
148
193.2%
DOM Average
136
139
-2.2%
SQUAW VALLEY - ALPINE MEADOWS (Area 6)
SQUAW VALLEY - ALPINE MEADOWS (Area 6)
Squaw Valley - Alpine Meadows - Truckee River
Squaw Valley - Alpine Meadows - Truckee River
2009
2008
% Change
2009
2008
% Change
Sales Volume
$7,832,500
$18,982,250
-58.7%
Sales Volume
$1,245,000
$11,888,238
-89.5%
Units Sold
9
11
-18.2%
Units Sold
2
17
-88.2%
Median Price
$750,000
$950,000
-21.1%
Median Price
$622,500
$699,000
-10.9%
Average Price
$870,277
$1,725,659
-49.6%
Average Price
$622,500
$699,308
-11.0%
Units < $500 Thousand
1
0
100.0%
Units < $500 Thousand
1
5
-80.0%
Units < $500-$999,999
5
7
-28.6%
Units > $500 Thousand
1
12
-91.7%
Units > $1 Million
3
4
-25.0%
DOM Median
25
165
-84.8%
DOM Median
195
128
52.3%
DOM Average
25
190
-86.8%
DOM Average
147
136
8.1%
Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data's accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. DRE License # 00313415
Week of June 29th to July 5th
Inventory Summary:
The listing inventory for the Tahoe-Truckee market increased slightly last week to 2,334 active listings in the market - 1,668 residential properties and 666 lots/land listed for sale. As we approach the busy months of summer more Sellers are placing their homes on the market for sale.
of the active listings, there are 140 properties listed as short sales, (6.1%) and 57 properties listed as REO sales, (2.4%). Overall, the Tahoe-Truckee market has less than 9% of its active inventory listed as a short sale or REO which is dramatically less than many markets outside of the area.
Based on the current inventory and sales year to date the market has roughly 28-months of inventory available.
Sold Summary:
On a year to date basis there have been 386 properties sold in the market as compared to 493 for the same period in 2008 which is (21.7%) reduction in sales. For properties sold year to date, 47 were REO’s, (12.2%), and 40 were Short Sales, (10.4%).
The median sales price for the properties sold YTD in 2009 is $456,475 while the average sale price is $565,662. For the same period in 2008, the median sales price was $517,500 and the average sales price was $733,067 which is an (11.8%) and (22.8%) reduction in price respectively.
For the week of June 29th to July 5th, there were 25 properties which closed in the market with seven (7) above $750,000. This week’s closing was a 47% over the previous week and the single highest week of closings in the past four months. Activity is definitely picking up.
Pending sales in the market decreased slightly to 150 which is a 6% reduction from the previous week.
Activity Summary:
Open house activity is definitely picking up as more and more visitors are coming to the Tahoe-Truckee market. Over the 4th of July weekend we held 25 open houses with average to good traffic depending on the location. Sales Associates are seeing increased buyer activity and more and more are writing offers than in the previous six-months. Coldwell Banker currently has over 40 homes in escrow which is 27% of the pending escrows.
Lake Tahoe and Truckee properties are priced at levels we have not seen in five years and coupled with today’s low mortgage rates present great opportunities for interested buyers. Now is the time to buy!
Week of June 1st to 7th
Inventory Summary: The listing inventory for the Tahoe-Truckee market increased slightly last week to 2,177 active listings in the market - 1,552 residential properties and 625 lots/land listed for sale. Of the active listings, there are 132 properties listed as short sales which increased slightly, (6.1%) and 60 properties listed as REO sales, (2.8%). Based on the current inventory and sales year to date the market has roughly 7-months of inventory available.
Sold Summary: On a year to date basis there have been 298 properties sold in the market as compared to 405 for the same period in 2008 which is (26.4%) reduction in sales. The median sales price for the properties sold YTD in 2009 is $450,000 while the average sale price is $575,163. For the same period in 2008, the median sales price was $515,000 and the average sales price was $721,017 which is a (12.6%) and (20.2%) reduction in price respectively. For the week of June 1st to 7th, there were only 10 properties which closed in the market with three above $750,000. Pending sales in the market remained constant at 140.
Activity Summary: Open house activity for the past week was slow given the unseasonable rainy weather. Additionally, with graduation weekends occurring, visitor travel slowed. Sales Associates are seeing increased buyer activity and more and more are writing offers than in the previous six-months. Coldwell Banker currently has over 40 homes in escrow and are seeing many offers on our listings.
Lake Tahoe and Truckee properties are priced at levels we have not seen in five years and coupled with today’s low mortgage rates present great opportunities for interested buyers. Summer is right around the corner and we are anticipating more and more buyer activity.
Update: 5/19/09
Currently 276 Homes listed in area 1-5 (around the lake)
Median :$795,000
Median days on Market: 108
Currently pending sales: 135 Tahoe/Truckee
Truckee Currently listed homes 432
Median $772,000
Median Days on market: 106
| SINGLE FAMILY HOMES | CONDOMINIUMS | |||||||
| NORTH LAKE TAHOE-TRUCKEE (Areas 1-9) | NORTH LAKE TAHOE-TRUCKEE (Areas 1-9) | |||||||
| TOTAL MARKET | TOTAL MARKET | |||||||
| 2009 | 2008 | % Change | 2009 | 2008 | % Change | |||
| Sales Volume | $67,362,500 | $109,251,000 | -38.3% | Sales Volume | $10,653,350 | $35,319,850 | -69.8% | |
| Units Sold | 98 | 121 | -19.0% | Units Sold | 18 | 33 | -45.5% | |
| Median Price | $550,750 | $650,000 | -15.3% | Median Price | $416,975 | $699,000 | -40.3% | |
| Average Price | $701,692 | $902,901 | -22.3% | Average Price | $591,852 | $1,070,298 | -44.7% | |
| Units < $1 Million | 81 | 89 | -9.0% | Units < $500 Thousand | 13 | 10 | 30.0% | |
| Units > $1 Million | 17 | 32 | -46.9% | Units > $500 Thousand | 5 | 23 | -78.3% | |
| DOM Median | 89 | 118 | -24.6% | DOM Median | 128 | 79 | 62.0% | |
| DOM Average | 122 | 144 | -15.3% | DOM Average | 304 | 171 | 77.8% | |
| NORTH LAKE TAHOE (Areas 1-5) | NORTH LAKE TAHOE (Areas 1-5) | |||||||
| Kings Beach To Tahoe City To Emerald Bay | Kings Beach To Tahoe City To Emerald Bay | |||||||
| 2009 | 2008 | % Change | 2009 | 2008 | % Change | |||
| Sales Volume | $13,657,500 | $30,821,500 | -55.7% | Sales Volume | $1,299,500 | $4,320,000 | -69.9% | |
| Units Sold | 22 | 36 | -38.9% | Units Sold | 4 | 5 | -20.0% | |
| Median Price | $575,000 | $575,000 | 0.0% | Median Price | $337,500 | $549,000 | -38.5% | |
| Average Price | $650,357 | $856,152 | -24.0% | Average Price | $324,875 | $864,000 | -62.4% | |
| Units < $1 Million | 18 | 30 | -40.0% | Units < $500 Thousand | 3 | 2 | 50.0% | |
| Units > $1 Million | 4 | 6 | -33.3% | Units > $500 Thousand | 1 | 3 | -66.7% | |
| DOM Median | 71 | 94 | -24.5% | DOM Median | 103 | 228 | -54.8% | |
| DOM Average | 87 | 131 | -33.6% | DOM Average | 123 | 168 | -26.8% | |
| 99 | ||||||||
| Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data's accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. | ||||||||
August 28, 2008
Single Family Dwelling actives around the lake: 402 Median: $796k
In escrow: 25 Median $695,000
Solds: 93 Since Jan 1. Median: $655K price per square foot: $467 Days on market: 145
Last Year:
As of August 28, 2007 Actives:
Single Family listings: 316 median: $849K Ave: $1.8m
In escrow: 33 properties,
Solds: Since May 1, 2007 There have been 89 properties sold.
Median is: $729k Ave. is $1.2m ave. price per sq. ft sold: $513 per square foot
As of April 4, 2007 ACTIVES:
Single Family: (from Kings Beach down to Emerald Bay)
Active single family listings 176 Median $898k Average $1.857m
Condos:
Active 49 Median: $509k Average: $784k
Lots:
Active: 43 Median: $375 Average: $650
SOLDS:
Solds in Tahoe Sierra MLs since Jan.1: 94 North Lake: 35 Median SFD in North Lake: $720K
Ave. sq. ft price solds: $543 Sq. ft. Ave. DOM: 151
