Lake Tahoe Real Estate – Market Report Sep 19-25
Olja Mihic, Lake Tahoe Real Estate Coldwell Banker
2011 Weekly Real Estate Market Report – North Lake Tahoe-Truckee Region MLS – Residential Properties – Single Family Homes and Condominiums
Week of: September 19th to September 25th
Active Inventory Summary:
Active Listings: The inventory for residential properties went down for the third straight week to 1,317 active listings in the market; 1,017 single family homes and 300 condominiums for sale. Coldwell Banker has over 16% of the active listings in the market and continues to be the market leader for listings.
Lake Tahoe REO-Short Sale Listings: Of the active listings, there are 169 properties listed as Lake Tahoe short sales, (12.8%) and 50 properties listed as Lake Tahoe REO sales, (3.8%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 11-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Total Sales: For 2011, there have been 819 residential properties sold in the market as compared to 778 for the same period in 2010 which is a year over year 5.4% increase in sales. Of the total sales in the market for 2011, 640 have been single family homes, while 179 or 22% of the sales were condominiums. I n 2010, condominiums represented 33% of the sales which is significantly higher than in 2011.
Lake Tahoe REO & Short Sales: Of the properties sold this year, 156 have been Lake Tahoe REO’s, (19.0%), and 119 have been Short Sales, (14.5%) which results in over 33% of the properties sold being distressed properties. In 2010 for the same period, there were 152 REO sales and 98 short sales or roughly 32% of the total sales which is almost identical to this year.
Sales Price Range: For the year, there have been 547 residential properties sold priced below $500,000, 204 properties sold between $500,000 and $1,000,000 and 68 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $400,000 while the average sales price is $542,791. For the same period in 2010, the median sales price was $430,000 and the average sales price was $642,405 which is a (7.0%) and (15.5%) decline in price respectively year over year.
Last Week’s Sales: For the week of September 19th a total of 18 properties sold which was a significant decrease from the previous week’s sales of 35 properties. Of the properties sold last week, three (3) of the properties sold were priced over $750,000.
Pending Sales: Currently there are 181 pending residential sales in the market which is down slightly from the previous week. Of the pending sales, 12 are short sales and 21 are REO properties which are roughly 18% of the pending sales being distressed properties.
Market Activity Summary:
Sales for this past week slipped from the previous two weeks to 18 total residential sales as compared to an average of 30 residential sales the previous two weeks. All in all, September residential sales trend is much better than the three previous months.
Median sales prices have decreased from last year by 7.0% to $400,000 while the average sales prices have decreased by 15.5% to $543,791. This continued downward trend in price is one of the major factors influencing home sales on a year to date basis.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 67% or 547 properties have sold in this price range. In 2010, 59% or 464 properties sold in this price range which makes sense given the drop in median sales prices.
Luxury home sales, homes priced above $1,000,000, continue to lag behind 2010 sales as 68 properties or 8.3%, have sold year to date as compared to 95 properties last year which is a 28% decline. For 2011, the median sales price for luxury properties is $1,675,000 while the average sales price is $2,148,390 which is slightly higher than the prices for 2010 in this segment.
The mid range market sales, $500,000 to $1,000,000 are down slightly from last year with 204 properties sold or 24.9% of sales as compared to 219 properties sold or 28.1% in this range in 2010. The gap in this segment of the market has narrowed in the past 60-days as more sales in this price range have occurred of late.
Distressed properties, Lake Tahoe REO and Lake Tahoe Short Sales represent 33% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. Interestingly enough while 33% of the sales are distressed properties only 16% of the active listings and 18% of the pending sales are distressed properties.
With the inventory of great Lake Tahoe Real Estate on the market, homes priced at 10-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market for a home in the Lake Tahoe – Truckee resort communities.
Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.
Contact Olja Mihic, Lake Tahoe Real Estate Coldwell Banker Agent Today…For a Free Market Valuation
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
Lake Tahoe Real Estate – Market Report – Sep 12-18
Olja Mihic, Lake Tahoe Real Estate Weekly Market Report
North Lake Tahoe-Truckee Region MLS – Residential Properties – Single Family Homes and Condominiums
Week of: September 12th to September 18th
Active Inventory Summary:
Active Listings: The inventory for residential properties went down slightly from last week to 1,328 active listings in the market; 1,026 single family homes and 302 condominiums for sale. Coldwell Banker has over 16% of the active listings in the market and continues to be the market leader for listings.
Lake Tahoe REO-Short Sale Listings: Of the active listings, there are 165 properties listed as Lake Tahoe short sales, (12.4%) and 48 properties listed as Lake Tahoe REO sales, (3.6%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 11-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Total Sales: For 2011, there have been 798 residential properties sold in the market as compared to 756 for the same period in 2010 which is a year over year 5.6% increase in sales. Of the total sales in the market for 2011, 623 have been single family homes, while 175 or 22% of the sales were condominiums. I n 2010, condominiums represented 33% of the sales which is significantly higher than in 2011.
Lake Tahoe REO & Short Sales: Of the properties sold this year, 152 have been REO’s, (19.0%), and 119 have been Short Sales, (14.9%) which results in over 34% of the properties sold being distressed properties. In 2010 for the same period, there were 147 REO sales and 96 short sales or roughly 32% of the total sales which is almost identical to this year.
Sales Price Range: For the year, there have been 533 residential properties sold priced below $500,000, 200 properties sold between $500,000 and $1,000,000 and 65 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $399,500 while the average sales price is $540,700. For the same period in 2010, the median sales price was $431,000 and the average sales price was $633,829 which is a (7.3%) and (14.7%) decline in price respectively year over year.
Last Week’s Sales: For the week of September 12th a total of 35 properties sold which was a significant increase from the previous week’s sales of 25 properties. Of the properties sold last week, four (4) of the properties sold were priced over $750,000 and three of the four were priced over $1,000,000. Last week there was a $6.0 million sale.
Pending Sales: Currently there are 187 pending residential sales in the market which is down slightly from the previous week. Of the pending sales, 10 are short sales and 25 are REO properties which are roughly 18% of the pending sales being distressed properties.
Market Activity Summary:
The 35 properties closed this past week was the single largest week of residential sales in the last four months. September sales as expected have been brisk and the trend for the next 30-45 appears to be positive.
Median sales prices have decreased from last year by 7.3% to $399,500 while the average sales prices have decreased by 14.7% to $540,700. This continued downward trend in price is one of the major factors influencing home sales to date and should bode well for the remainder of the year.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 67% or 533 properties have sold in this price range. In 2010, 60% or 451 properties sold in this price range which makes sense given the drop in median sales prices.
Lake Tahoe luxury home sales, homes priced above $1,000,000, continue lag behind 2010 sales as 65 properties or 8.1%, have sold year to date as compared to 90 properties last year which is a 27% decline. For 2011, the median sales price for Lake Tahoe luxury homes is $1,675,000 while the average sales price is $2,148,390 which is slightly higher than the prices for 2010 in this segment.
The mid range market sales, $500,000 to $1,000,000 are down slightly from last year with 200 properties sold or 25.1% of sales as compared to 215 properties sold or 28.4% in this range in 2010. The gap in this segment of the market has narrowed in the past 60-days as more sales in this price range have occurred of late. Last week, 12 residential properties closed in this price range.
Lake Tahoe distressed properties, Lake Tahoe REO and Lake Tahoe Short Sales represent 34% of the sales in the market which is almost identical to the quantity of Lake Tahoe REO and Lake Tahoe Short sales in 2010. Interestingly enough while 34% of the sales are distressed properties only 16% of the active listings and 18% of the pending sales are distressed properties.
With the inventory of great residential properties on the market, homes priced at 10-year lows and some of the lowest interest rates in history, we are anticipating a strong rally towards the end of the year.
Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.
Contact Olja Mihic, Lake Tahoe Real Estate Specialist with Coldwell Banker Today…For a Free Market Valuation
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
Lake Tahoe Real Estate – Market Report Sep 5-11
Olja Mihic Coldwell Banker – Weekly Real Estate Market Report North Lake Tahoe-Truckee Region MLS
Residential Properties – Single Family Homes and Condominiums
Week of: September 5th to September 11th
Active Inventory Summary:
Active Listings: The inventory for residential properties went down again for the second straight week to 1,349 active listings in the market; 1,046 single family homes and 303 condominiums for sale. Coldwell Banker has over 16% of the active listings in the market and continues to be the market leader for listings.
Lake Tahoe REO-Short Sale Listings: Of the active listings, there are 164 properties listed as short sales, (12.2%) and 49 properties listed as REO sales, (3.6%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 13-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Total Sales: For 2011, there have been 761 residential properties sold in the market as compared to 735 for the same period in 2010 which is a year over year 3.5% increase in sales. Of the total sales in the market for 2011, 589 have been single family homes, while 172 or 23% of the sales were condominiums. I n 2010, condominiums represented 33% of the sales which is significantly higher than in 2011.
Lake Tahoe REO & Short Sales: Of the properties sold this year, 150 have been REO’s, (19.7%), and 117 have been Short Sales, (15.4%) which results in over 35% of the properties sold being distressed properties. In 2010 for the same period, there were 146 REO sales and 95 short sales or roughly 33% of the total sales which is almost identical to this year.
Sales Price Range: For the year, there have been 510 residential properties sold priced below $500,000, 188 properties sold between $500,000 and $1,000,000 and 63 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $395,000 while the average sales price is $535,804. For the same period in 2010, the median sales price was $429,000 and the average sales price was $629,917 which is a (7.9%) and (14.9%) decline in price respectively year over year.
Last Week’s Sales: For the week of September 5th a total of 25 properties sold which was slightly higher than the previous week’s sales of 22 properties. Of the properties sold last week, five (5) of the properties sold were priced over $750,000 and three of the five were priced over $2,000,000. Coldwell Banker was involved in 10 of the properties sold last week.
Pending Sales: Currently there are 193 pending residential sales in the market which is down slightly from the previous week. Of the pending sales, 11 are short sales and 24 are REO properties which are roughly 18% of the pending sales being distressed properties.
Market Activity Summary:
The first eleven days of September have been excellent in terms of residential sales as compared to the four previous weeks. In addition, there continues to be a favorable trend as pending sales are holding strong.
Median sales prices have decreased from last year by 7.9% to $395,000 while the average sales prices have decreased by 14.9% to $534,804. The downward trend in price is one of the major factors influencing home sales to date and should bode well for the remainder of the year.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 67% or 510 properties have sold in this price range. In 2010, 60% or 443 properties sold in this price range which makes sense given the drop median sales prices.
Luxury home sales, homes priced above $1,000,000, continue lag behind 2010 sales as 63 properties or 8.3%, have sold year to date as compared to 87 properties last year which is a 28% decline. For 2011, the median sales price for luxury properties is $1,675,000 while the average sales price is $2,098,498 which is slightly higher to the prices for 2010 in this segment.
The mid range market sales, $500,000 to $1,000,000 are down as well from last year with 188 properties sold or 24.7% of sales as compared to 205 properties sold or 27.9% in this range in 2010.
Distressed properties, Lake Tahoe REO and Short Sales represent 35% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. Interestingly enough while 35% of the sales are distressed properties only 15% of the active listings and 18% of the pending sales are distressed properties.
With the inventory of great residential properties on the market, homes priced at 10-year lows and some of the lowest interest rates in history, we are anticipating a strong rally towards the end of the year.
Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.
Contact Olja Mihic Coldwell Banker Agent Today…For a Free Market Valuation
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
Lake Tahoe Real Estate – Market Report Aug 29th – Sep 4th
Lake Tahoe Real Estate Market Report Week of: August 29th to September 4th
North Lake Tahoe-Truckee Region MLS Residential Properties – Single Family Homes and Condominiums
Active Inventory Summary:
Active Listings: The inventory for residential properties went down slightly for the first time in 15-weeks to 1,360 active listings in the market; 1,060 single family homes and 300 condominiums for sale. Coldwell Banker has over 17% of the active listings in the market and continues to be the market leader for listings.
Lake Tahoe REO-Short Sale Listings: Of the active listings, there are 159 properties listed as short sales, (11.7%) and 49 properties listed as REO sales, (3.6%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 15-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Total Sales: For 2011, there have been 731 residential properties sold in the market as compared to 724 for the same period in 2010 which is a year over year 1% increase in sales. Of the total sales in the market for 2011, 566 have been single family homes, while 165 or 23% of the sales were condominiums. I n 2010, condominiums represented 33% of the sales which is significantly higher than in 2011.
Lake Tahoe REO & Short Sales: Of the properties sold this year, 147 have been REO’s, (20.1%), and 112 have been Short Sales, (15.3%) which results in over 35% of the properties sold being distressed properties. In 2010 for the same period, there were 145 REO sales and 93 short sales or roughly 33% of the total sales which is almost identical to this year.
Sales Price Range: For the year, there have been 488 residential properties sold priced below $500,000, 184 properties sold between $500,000 and $1,000,000 and 59 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $397,700 while the average sales price is $530,388. For the same period in 2010, the median sales price was $428,500 and the average sales price was $626,582 which is a (7.2%) and (15.4%) decline in price respectively year over year.
Last Week’s Sales: For the week of August 29th a total of 22 properties sold which was slightly higher than the previous week’s sales of 21 properties. Of the properties sold last week, three (3) of the properties sold were priced over $1,000,000. Coldwell Banker was involved in 12 of the properties sold last week which was double that of any other brokerage.
Pending Sales: Currently there are 202 pending residential sales in the market which is up slightly from the previous week. Of the pending sales, 14 are short sales and 23 are REO properties which is roughly 18% of the pending sales being distressed properties.
Market Activity Summary:
The last week of August and the first week of September sales were encouraging as compared to the first three weeks of August. In addition, there continues to be an favorable trend as pending sales went up again last week to 202 properties reported in escrow. As it relates to pending sales, only 18% of the pending sales are distressed properties whereas we are seeing 35% of the overall sales for the year being an REO or short sale.
Median sales prices have decreased from last year by 7.2% to $397,700 while the average sales prices have decreased by 15.4% to $626,582. The downward trend in price is one of the major factors influencing home sales to date and should bode well for the remainder of the year.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 67% or 488 properties have sold in this price range. In 2010, 60% or 436 properties sold in this price range which makes sense given the drop median sales prices.
Luxury home sales, homes priced above $1,000,000, continue lag behind 2010 sales as 59 properties or 8.1%, have sold year to date as compared to 84 properties last year which is a 29% decline. For 2011, the median sales price for luxury properties is $1,615,000 while the average sales price is $2,062,595 which is almost identical to the prices for 2010 in this segment.
The mid range market sales, $500,000 to $1,000,000 are down as well from last year with 184 properties sold or 25.2% of sales as compared to 204 properties sold or 28.2% in this range in 2010.
Distressed properties, Lake Tahoe REO and Short Sales represent 35% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. Interestingly enough while 35% of the sales are distressed properties only 15% of the active listings and 18% of the pending sales are distressed properties.
With the inventory of great residential properties on the market, homes priced at 10-year lows and some of the lowest interest rates in history, we are anticipating a strong rally towards the end of the year.
Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.
Contact Olja Mihic, Coldwell Banker Agent Today…For a Free Market Valuation!
Lake Tahoe Real Estate Market Report – August 22nd to August 28th
Lake Tahoe Real Estate Market Report Week of: August 22nd to August 28th – Olja Mihic, Coldwell Banker
North Lake Tahoe-Truckee Region MLS Residential Properties – Single Family Homes and Condominiums
Lake Tahoe Active Inventory Summary:
Lake Tahoe Active Listings: The inventory for residential properties went up slightly to 1,378 active listings in the market; 1,072 single family homes and 306 condominiums for sale. Coldwell Banker has over 17% of the active listings in the market and continues to be the market leader for listings.
Lake Tahoe REO-Short Sale Listings: Of the active listings, there are 153 properties listed as short sales, (11.1%) and 50 properties listed as REO sales, (3.6%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has over 14-months of inventory available. The inventory of homes at today’s prices continues to favor the buyer interested in an investment property, vacation home or moving up to a larger home or better location.
Lake Tahoe Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Total Sales: For 2011, there have been 703 residential properties sold in the market as compared to 688 for the same period in 2010 which is a year over year 2.2% increase in sales. Of the total sales in the market for 2011, 542 have been single family homes, while 161 or 23% of the sales were condominiums. I n 2010, condominiums represented 34% of the sales which is significantly higher than in 2011.
Lake Tahoe REO & Short Sales: Of the properties sold, 144 have been REO’s, (20.5%), and 107 have been Short Sales, (15.2%) which results in over 35% of the properties sold being distressed properties. In 2010 for the same period, there were 139 REO sales and 91 short sales or roughly 33% of the total sales.
Sales Price Range: For the year, there have been 470 residential properties sold priced below $500,000, 177 properties sold between $500,000 and $1,000,000 and 56 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $397,700 while the average sales price is $528,675. For the same period in 2010, the median sales price was $429,335 and the average sales price was $627,762 which is a (7.4%) and (15.8%) decline in price respectively year over year.
Last Week’s Sales: For the week of August 22nd a total of 21 properties sold which was 24% higher than the previous week’s sales of 17 properties. Of the properties sold last week, three (3) of the properties sold were priced over $1,000,000 with one closing at $6.4 million and another priced at $3.2 million.
Pending Sales: Currently there are 196 pending residential sales in the market which is up slightly from the previous week. Of the pending sales, 16 are short sales and 20 are REO properties which is roughly 18% of the pending sales being distressed properties.
Lake Tahoe Market Activity Summary:
Last week’s residential sales were up nicely from the previous two weeks with 21 residential properties closing. There were three properties closed over $1 million dollars and of which two were over $3 million. Last week’s sales came more in line with the average weekly sales for July and August of last year which is encouraging. In addition, there continues to be an encouraging trend as pending sales went up again last week to 196 properties reported in escrow. As it relates to pending sales, only 18% of the pending sales are distressed properties whereas we are seeing 35% of the overall sales for the year being and REO or short sale.
Median sales prices have decreased from last year by 7.4% to $397,700 while the average sales prices have decreased by 15.8% to $627,762. These price trends are one of the major factors influencing home sales to date and should bode well for the remainder of the year.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 67% or 470 properties have sold in this price range. In 2010, 60% or 413 properties sold in this price range which would be expected given the drop median sales prices.
Luxury home sales, homes priced above $1,000,000, continue lag behind 2010 sales as 56 properties or 8.0%, have sold year to date as compared to 79 properties last year which is a 29% decline. For 2011, the median sales price for luxury properties is $1,615,000 while the average sales price is $2,062,595 which are almost identical to the prices for 2010 in this segment.
The mid range market, sales $500,000 to $1,000,000 are down as well from last year with 177 properties sold or 25.2% of sales as compared to 196 properties sold or 28.5% in this range in 2010.
Distressed properties, Lake Tahoe REO and Short Sales represent 35% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. Interestingly enough while 35% of the sales are distressed properties only 14% of the active listings and 18% of the pending sales are distressed properties.
With the inventory of great residential properties on the market, homes priced at 10-year lows and some of the lowest interest rates in history, we are anticipating a strong rally towards the end of the year.
Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.
Contact Olja Mihic, Coldwell Banker Agent Today…For a Free Market Valuation!