Lake Tahoe Real Estate and Truckee Real Estate Weather Report
Last few days, here at Lake Tahoe Real Estate and Truckee Real Estate, we have seen the temperatures rise to mid 60s. In particular last three days in Lake Tahoe and Truckee have been very humid, as when the temperatures rise Lake Tahoe evaporation often causes afternoon clouds which make the area humid. High temperatures and humidity make for a sticky day on the hill, and Lake Tahoe real estate owners and Truckee real estate owners have been wishing for the Squaw Valley High Camp swimming pool to open, which I believe they are trying to open for this weekend!
Lake Tahoe real estate and Truckee real estate weather pattern for next week shows drop in temperatures by next Wed., and a chance of snow/rain. It is not over until the fat lady sings, and the lady is still out enjoying the great spring conditions! If you are a Lake Tahoe real estate owner or Truckee real estate owner I suggest you hit the slopes, as conditions are still great, and if you are contemplating a Lake Tahoe real estate or Truckee real estate purchase, the inventory is lowest we have seen in 6 years, and I anticipate that by Spring the prices will inflate, so do not wait! Very few Lake Tahoe foreclosures are hitting the Lake Tahoe MLS lately. Click for a Lake Tahoe MLS list of Lake Tahoe foreclosures for the latest list, or search the entire Lake Tahoe MLS.
Happy skiing and happy Spring!
Lake Tahoe Real Estate and Truckee Real Estate: 81 Tahoma Way, Tahoe City, CA 96145
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$579,000
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Lake Tahoe Real Estate: 81 Tahoma Way, Tahoe City, CA 96145
Information taken from the Lake Tahoe MLS.
Contact Olja Mihic, Your Lake Tahoe Realtor.
Lake Tahoe Real Estate and Truckee Real Estate: Market Report Feb 25-March3
Olja Mihic, Lake Tahoe Realtor, Lake Tahoe Real Estate and Truckee Real Estate Market Report from Lake Tahoe MLS
North Lake Tahoe Real Estate -Truckee Real Estate Region
Week of: February 25th to March 3rd
Active Inventory Summary:
Lake Tahoe MLS Active Listings: Lake Tahoe MLS shows the current inventory of residential Lake Tahoe real estate and Truckee real estate went up slightly for the first time since early 2012 to 510 residential Lake Tahoe real estate and Truckee real estate for sale; 328 single family homes and 182 condominiums for sale. The current inventory level is at record lows for the past seven years.
Lake Tahoe foreclosures (REO)-Short Sale Active Listings: Of the active listings, there are only 6 properties listed as short sales, (1.2%) and 8 properties listed as Lake Tahoe foreclosures (REO) sales, (1.6%).
Months of Lake Tahoe real estate and Truckee real estate Inventory: Based on the current active Lake Tahoe real estate and Truckee real estate inventory and sales for the previous 30-day period, the market has a little over 6-months of inventory available.
Lake Tahoe Real Estate and Truckee Real Estate Sales Summary: Year-To-Date
Total Lake Tahoe Real Estate and Truckee Real Estate Sales 2013 Vs. 2012:
Total Lake Tahoe real estate and Truckee real estate Sales: For 2013, there have been 160 residential Lake Tahoe real estate and Truckee real estate sold in the market which is identical to the 160 properties sold in 2012 for the same period. Of the total Lake Tahoe real estate and Truckee real estate sales in the market this year, 118 have been single family homes, while 42 or 26% of the sales are condominiums. In 2012 for the same period, condominiums represented a little over 18% of the sales.
Lake Tahoe Foreclosures (REO) & Short Sales: Distressed property sales thus far for the year are 12 Lake Tahoe Foreclosures (REO) sales, (7.5%), and 26 Short Sales, (16.3%) which results in almost 24% of the properties sold being distressed properties. In 2012 for the same period, there were 37 Lake Tahoe Foreclosures (REO) sales and 38 short sales or 47% of the total Lake Tahoe real estate and Truckee real estate sales.
Sales by Price Range: For the year, there have been 102 residential Lake Tahoe real estate and Truckee real estate sold priced below $500,000, 37 properties sold between $500,000 and $1,000,000 and 21 properties sold over $1,000,000.
Median and Average Sales Prices: The median Lake Tahoe real estate and Truckee real estate sales price for properties sold year to date is $378,750 while the average sales price is $716,321. For the same period in 2012, the median sales price was $350,000 and the average sales price was $508,971 which is an increase of 8% in median sales price and an increase of 40% in average sales price.
Last Week’s Sales: For the week of February 25th a total of 26 properties sold which was up dramatically from the prior week’s sales of 15 properties. Of the properties sold last week, three (3) properties sold at a price above $1,000,000.
Pending Sales: Currently there are 242 pending residential Lake Tahoe real estate and Truckee real estate sales in the market which is up nicely from the previous week. Of the pending properties, 32% are distressed properties with 63 being short sales and 14 being Lake Tahoe Foreclosures REO’s.
Lake Tahoe MLS Market Activity Summary:
Lake Tahoe MLS shows the 2013 year through the first two months has mirrored 2012 in terms of total Lake Tahoe real estate and Truckee real estate sales as there have been 160 residential properties sold year to date which is identical for the same period last year.
The month of February had 67 properties sold as compared to 75 in 2012 for the same period which is an (11%) decline. Interesting enough, the month of January saw total sales for 2013 of 83 properties as compared to 72 properties for the same period in 2012 which is a 15% increase.
Coldwell Banker Residential Brokerage as was the case in 2012 continues to be #1 in the entire market in terms of both unit sides sold, (67 sales) and sales volume sold, ($29 million) on a year to date basis.
The median Lake Tahoe real estate and Truckee real estate sales price for residential properties reached 378,750 which is up 8.2% from the median sales price of $350,000 in 2012. Similarly the average sales price has gone up a whopping 40% to $716,321 as compared to last year’s average sales price of $508,971 due in large part to the higher number of Lake Tahoe luxury homes sales in the market since the beginning of the new year.
The segment of the market with the highest level of activity continues to be homes priced under $500,000 as over 64% of the sales or 102 properties have sold in this price range which is similar on a percentage basis to 2012 where over 67% of sales or 108 properties sold in this price range.
Lake Tahoe Luxury homes sales, homes priced above $1,000,000, are up 90% from 2012 with 21 Lake Tahoe luxury homes selling since the beginning of the year as compared to only 11 Lake Tahoe luxury homes sold for the same period in 2012. Lake Tahoe Luxury homes sold represents over 13% of sales thus far this year. The median sales price for Lake Tahoe luxury homes in 2013 is $1,637,500 as compared to a median price of $1,250,000 in 2012 which is up 31%. As dramatically, the average sales price of Lake Tahoe luxury homes in 2013 is $2,783,327 as compared to $2,172,727 in 2012 which is a 28% increase.
The mid-range market sales, $500,000 to $1,000,000 are almost identical to last year with 37 properties sold in this segment or 23% of sales as compared to 41 properties sold or 26% of sale in this range in 2012.
Distressed properties, (Lake Tahoe foreclosures REO’s and Short Sales), have really lagged 2012 thus far. For 2013, short sale properties closed have gone down 32% with 26 closed short sales in 2013 as compared to 38 closed short sales in 2012. Similarly, Lake Tahoe foreclosures (REO) properties closed in 2013 have gone down (67%) with 12 properties closed in 2013 as compared to 37 properties closed in 2012. Overall, distressed property sales, (Lake Tahoe foreclosures (REO) and Short Sales) represent 23% of the sales in 2013 which is less than the 46% in 2012.
The active Lake Tahoe real estate and Truckee real estate inventory on a year over year basis is down roughly 39%. However, this past week we had a slight increase in inventory for the first time since early 2012. There are a total of 510 residential Lake Tahoe real estate and Truckee real estate on the market with 328 single family homes and 182 condominiums listed for sale in the market. As is the case in many California markets, low inventory levels are the norm and the Lake Tahoe real estate -Truckee real estate market is experiencing similar trends.
IT’S NOT TOO LATE! While inventory levels are at a market low, there are still many quality properties to choose from throughout the north Lake Tahoe real estate and Truckee real estate area. When you compound the inventory available with homes still priced at 10-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market and acquiring homes in many of the Lake Tahoe real estate and Truckee real estate resort communities.
Contact Olja Mihic, Lake Tahoe Realtor Today to Find Out More about the Opportunities Available in the Lake Tahoe Real Estate -Truckee Real Estate Market.
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 Lake Tahoe MLS may not reflect all real estate activity in the market. DRE License # 1908304
Lake Tahoe Real Estate to Finally Get the Winter Coat!
Lake Tahoe has been fairly dry this season. It hasn’t had much of an effect on Lake Tahoe Real Estate sales, according to Lake Tahoe MLS numbers, though, as there was plenty of snow at the beginning to keep the skiers occupied and Lake Tahoe real estate shoppers around the area. In the years past, slow snow years have known to affect the Lake Tahoe real estate, especially the rental segment, but sales as well, so the news of the upcoming snow has Lake Tahoe Realtors excited! Lake Tahoe foreclosures, or course, always find a buyer, and find their way onto Lake Tahoe MLS regardless of the weather.
The ski resorts, such as Squaw Valley, remain busy with the Spring-like conditions only Lake Tahoe is known for, but the snow layer is visibly thinning and the new snow comes just in time and is highly welcomed by all.
Currently, the skies are grey with increasing winds, and Squaw Valley was on wind hold today. It is snowing at higher elevations, but the Lake Tahoe level is still dry, so there is still time to make it up for powder tomorrow and, of course, shop for Lake Tahoe real estate a little!
NOAA is calling for new snow accumulation of 2 to 4 inches possible tonight, 3 to 5 possible tomorrow, and Thur 1 to 3 inches, then sunny for the weekend. And, your Lake Tahoe Realtor is calling for lots of fun in the snow, and more than desirable Lake Tahoe real estate prices and interest rates!
Click for Lake Tahoe Real Estate active Lake Tahoe MLS listings or Squaw Valley Real Estate. Call your Lake Tahoe Realtor, Olja Mihic to schedule a showing!