Lake Tahoe Real Estate – Market Report Nov 14-20
Olja Mihic, Lake Tahoe Realtor Lake Tahoe Real Estate Market Report
North Lake Tahoe Real Estate -Truckee Real Estate Lake Tahoe MLS
Week of: November 14th to November 20th
Active Inventory Summary:
Active Listings: Lake Tahoe MLS shows the inventory for residential Lake Tahoe real estate and Truckee Real Estate went down slightly from the previous week to 1,069 active listings in the market; 818 single family homes and 251 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 Foreclosures (REO)-Short Sale Listings: Of the Lake Tahoe real estate and Truckee Real Estate active listings, there are 165 Lake Tahoe properties listed as short sales, (15.4%) and 51 properties listed as Lake Tahoe Foreclosures (REO) sales, (4.8%).
Months of Inventory: Based on the current inventory in the Lake Tahoe MLS and Lake Tahoe real estate and Truckee Real Estate sales for the previous 30-day period, the market has roughly 9-months of inventory available.
Lake Tahoe real estate and Truckee Real Estate Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Total Lake Tahoe Real Estate and Truckee Real Estate Sales: For 2011, there have been 1,049 residential Lake Tahoe Real Estate and Truckee Real Estate sold in the market as compared to 987 for the same period in 2010 which is a year over year 6.3% increase in sales. Of the total sales in the market for 2011, 826 have been single family homes, while 223 or 21% of the sales were condominiums. I n 2010, condominiums represented 32% of the sales which is significantly higher than in 2011.
Lake Tahoe Foreclosures (REO) & Short Sales: Of the Lake Tahoe properties sold this year, 184 have been Lake Tahoe foreclosures REO’s, (17.5%), and 141 have been Lake Tahoe Short Sales, (13.4%) which results in over 30% of the Lake Tahoe Real Estate and Truckee Real Estate sold being distressed properties. In 2010 for the same period, there were 193 Lake Tahoe foreclosures REO sales and 121 short sales or just over 31% of the total Lake Tahoe Real Estate and Truckee Real Estate sales which is almost identical to this year.
Sales Price Range: For the year, there have been 692 residential Lake Tahoe properties sold priced below $500,000, 266 properties sold between $500,000 and $1,000,000 and 91 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for Lake Tahoe Real Estate and Truckee Real Estate sold year to date is $400,000 while the average sales price is $543,087. For the same period in 2010, the median sales price was $432,000 and the average sales price was $638,111 which is a (7.4%) and (14.9%) decline in price respectively year over year.
Last Week’s Sales: For the week of November 14th, a total of 25 Lake Tahoe Real Estate and Truckee Real Estate sold which was up nicely from the previous week’s sales of 20 properties. Of the Lake Tahoe properties sold last week, only one of the Lake Tahoe properties sold were priced over $750,000.
Pending Sales: Currently there are 153 pending residential Lake Tahoe Real Estate and Truckee Real Estate sales in the market which went down slightly from the previous week. Of the pending sales, 21 are Lake Tahoe short sales and 26 are Lake Tahoe foreclosures REO properties which are roughly 31% of the pending sales being distressed properties.
Market Activity Summary:
November sales are slightly better than last year for the first three weeks of the month. Last week’s residential Lake Tahoe Real Estate and Truckee Real Estate sales represented a nice spike up from the week before with 25 total Lake Tahoe Real Estate and Truckee Real Estate closing escrow. Coldwell Banker continues to be the market leader in terms of units sold and sales volume with roughly 16% market share in the north Tahoe and Truckee area.
Median Lake Tahoe Real Estate and Truckee Real Estate sales prices have decreased from last year by 7.4% to $400,000 while the average sales prices have decreased by 14.9% to $543,087. The percentage drop in Lake Tahoe Real Estate and Truckee Real Estate sales has been rather consistent for the past 2-3 months and continues to be one of the driving factors influencing home sales on a year to date basis for astute investors looking to own a property in this remarkable resort area.
The hottest segment of the market continues to be Lake Tahoe Real Estate and Truckee Real Estate priced under $500,000 as roughly 66% or 692 properties have sold in this price range. In 2010, 59% or 589 Lake Tahoe properties sold in this price range which was lower than this year primarily because of the drop in home prices.
Lake Tahoe luxury home sales, homes priced above $1,000,000, are down 25% from 2010 sales as 91 Lake Tahoe Real Estate and Truckee Real Estate or 8.7% of sales have sold year to date as compared to 122 properties last year in this segment. The median sales price of the Lake Tahoe luxury homes sold in 2011 is $1,650,000 which is up 3% from last year. Conversely, the average sales price of the Lake Tahoe luxury homes sales this year is $2,053,202 which is roughly 2% lower than last year.
The mid range market sales, $500,000 to $1,000,000 are down slightly from last year with 266 Lake Tahoe Real Estate and Truckee Real Estate sold or 25.4% of sales as compared to 276 Lake Tahoe properties sold or 28.0% in this range in 2010.
Distressed properties, Lake Tahoe foreclosures REO and Short Sales represent just over 30% of the sales in the market which is almost identical to the quantity of Lake Tahoe foreclosures REO and Short sales in 2010. On a comparative basis, 30% of the sales are distressed Lake Tahoe Real Estate and Truckee Real Estate while 20% of the active listings and 31% of the pending sales are distressed Lake Tahoe properties.
The active inventory of residential Lake Tahoe Real Estate and Truckee Real Estate showed a slight decrease in active listings. The inventory for single family homes is fairly significant as compared to other parts of California where inventory is limited.
With the inventory of great residential Lake Tahoe Real Estate and Truckee 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 Real Estate and Truckee Real Estate 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 Real Estate and Truckee Real Estate market.
Contact Olja Mihic, Your Lake Tahoe Realtor 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 Lake Tahoe 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 Nov 7-13
Lake Tahoe Real Estate – Market Report Nov 7-13
Coldwell Banker, Olja Mihic
North Lake Tahoe-Truckee Region MLS – Residential Properties – Single Family Homes and Condominiums
Week of: November 7th to November 13th
Active Inventory Summary:
Active Listings: The inventory for residential properties went down from the previous week to 1,075 active listings in the market; 825 single family homes and 250 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 166 properties listed as Lake Tahoe short sales, (15.4%) and 49 properties listed as lake Tahoe REO sales, (4.6%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 10-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Total Sales: For 2011, there have been 1,023 residential properties sold in the market as compared to 966 for the same period in 2010 which is a year over year 5.9% increase in sales. Of the total sales in the market for 2011, 809 have been single family homes, while 214 or 21% of the sales were condominiums. I n 2010, condominiums represented 31% of the sales which is significantly higher than in 2011.
Lake Tahoe REO & Short Sales: Of the properties sold this year, 177 have been lake Tahoe REO’s, (17.3%), and 137 have been Lake Tahoe Short Sales, (13.4%) which results in over 30% of the properties sold being distressed properties. In 2010 for the same period, there were 192 REO sales and 120 short sales or just over 32% of the total sales which is almost identical to this year.
Sales Price Range: For the year, there have been 673 residential properties sold priced below $500,000, 259 properties sold between $500,000 and $1,000,000 and 91 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 $547,268. For the same period in 2010, the median sales price was $430,000 and the average sales price was $635,401 which is a (7.0%) and (13.9%) decline in price respectively year over year.
Last Week’s Sales: For the week of November 7th, a total of 20 properties sold which was a decrease from the previous week’s sales of 28 properties. Of the properties sold last week, five (5) of the properties sold were priced over $750,000 and of these four (4) were greater than $1.0 million.
Pending Sales: Currently there are 161 pending Lake Tahoe real estate residential sales in the market which went up slightly from the previous week. Of the pending sales, 20 are short sales and 30 are Lake Tahoe REO properties which are roughly 31% of the pending sales being distressed properties.
Market Activity Summary:
Sales for the first two weeks of November were very similar to the first two weeks of October which was a good month for sales. Last week’s sales went down slightly from the previous week. An encouraging area from last week’s sales was that 20% of the properties sold were at a price over $1.0 million. Coldwell Banker has roughly 16% market share in the north Tahoe and Truckee area and is the market leader in terms of both units sold and sales volume.
Median sales prices have decreased from last year by 7.0% to $400,000 while the average sales prices have decreased by 13.9% to $547,268. This downward trend in price is one of the major factors influencing home sales on a year to date basis for astute investors looking to own a property in this remarkable resort area.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 66% or 673 properties have sold in this price range. In 2010, 60% or 576 properties sold in this price range which was lower than this year primarily because of the drop in home prices.
Lake Tahoe luxury home sales, homes priced above $1,000,000, are down 22% from 2010 sales as 91 properties or 8.9% of sales have sold year to date as compared to 117 properties last year in this segment. The median sales price of the Lake Tahoe luxury properties sold in 2011 is $1,650,000 which is up 3% from last year. Conversely, the average sales price of the luxury sales this year is $2,053,202 which is roughly 2% lower than last year.
The mid range market sales, $500,000 to $1,000,000 are down slightly from last year with 259 properties sold or 25.3% of sales as compared to 273 properties sold or 28.3% in this range in 2010. The gap in this segment of the market has narrowed in the past 90-days as more sales in this price range have occurred of late.
Distressed properties, Lake Tahoe REO and Short Sales represent 30% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. On a comparative basis, 30% of the sales are distressed properties while 20% of the active listings and 31% of the pending sales are distressed properties.
The active inventory of residential properties showed a slight decrease in active listings. The inventory for single family homes is fairly significant as compared to other parts of California where inventory is limited.
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, 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, Your 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 Oct 17th-23rd
Olja Mihic, Coldwell Banker – 2011 Weekly Real Estate Market Report – North Lake Tahoe-Truckee Region MLS
Residential Properties – Single Family Homes and Condominiums
Week of: October 17th to October 23rd
Active Inventory Summary:
Active Listings: The inventory for residential properties went up slightly from the previous week to 1,214 active listings in the market; 943 single family homes and 271 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 174 properties listed as Lake Tahoe short sales, (14.3%) and 45 properties listed as Lake Tahoe REO sales, (4.1%).
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 9-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2011 Vs 2010:
Total Sales: For 2011, there have been 945 residential properties sold in the market as compared to 879 for the same period in 2010 which is a year over year 7.5% increase in sales. Of the total sales in the market for 2011, 746 have been single family homes, while 199 or 21% of the sales were condominiums. I n 2010, condominiums represented 32% of the sales which is significantly higher than in 2011.
Lake Tahoe REO & Short Sales: Of the properties sold this year, 168 have been Lake Tahoe REO’s, (17.8%), and 130 have been Lake Tahoe Short Sales, (13.8%) which results in over 31% of the Lake Tahoe properties sold being distressed properties. In 2010 for the same period, there were 172 REO sales and 110 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 623 residential Lake Tahoe properties sold priced below $500,000, 238 properties sold between $500,000 and $1,000,000 and 84 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for Lake Tahoe properties sold year to date is $400,000 while the average sales price is $548,746. For the same period in 2010, the median sales price was $430,000 and the average sales price was $639,713 which is a (7.0%) and (14.2%) decline in price respectively year over year.
Last Week’s Sales: For the week of October 17th, a total of 27 properties sold which was a significant increase from the previous week’s sales of 16 properties. Of the Lake Tahoe properties sold last week, seven (7) of the properties sold were priced over $750,000 and of these seven, 5 were greater than $1.0 million. Of the million sales, one property was $2.5 million and another was $3.0 million. Coldwell Banker was involved in 35% of the closed transactions, including a multimillion dollar sale.
Pending Sales: Currently there are 175 pending residential sales in the market which is identical to the previous week. Of the pending sales, 16 are short sales and 27 are REO properties which are roughly 25% of the pending sales being distressed properties.
Market Activity Summary:
Sales for the week of October 17th went back up nicely from the previous week with 27 residential Lake Tahoe properties closing escrow. October 2011 as expected is turning into a great month of sales and is outpacing sales for October of 2010. What was particularly encouraging about last week’s sales was the number of sales over $1.0 million with five properties in this range. Coldwell Banker has roughly 16% market share in the north Tahoe and Truckee area and is the market leader in terms of both units sold and sales volume.
Median sales prices have decreased from last year by 7.0% to $400,000 while the average sales prices have decreased by 14.2% to $548,746. The continued downward trend in price in our market is one of the major factors influencing home sales on a year to date basis for astute investors looking to own a property in this remarkable resort area.
The hottest segment of the market continues to be homes priced under $500,000 as roughly 66% or 623 properties have sold in this price range. In 2010, 60% or 525 properties sold in this price range which was lower than this year primarily because of the drop in home prices.
Lake Tahoe Luxury home sales, homes priced above $1,000,000, are down 21% from 2010 sales as 84 properties or 8.9% of sales have sold year to date as compared to 107 properties last year in this segment.
The mid range market sales, $500,000 to $1,000,000 are down slightly from last year with 238 properties sold or 25.2% of sales as compared to 247 properties sold or 28.1% in this range in 2010. The gap in this segment of the market has narrowed in the past 90-days as more sales in this price range have occurred of late.
Distressed properties, Lake Tahoe REO and Lake Tahoe Short Sales represent 31% of the sales in the market which is almost identical to the quantity of REO and Short sales in 2010. Interestingly enough while 31% of the sales are distressed properties only 17% of the active listings and 25% of the pending sales are distressed properties.
The active inventory of residential properties leveled off last week with a slight increase in active listings occurring. The inventory for single family homes is fairly significant as compared to other parts of California where inventory is limited.
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, 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, Your 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