Lake Tahoe Real Estate Market Report: Apr 25. – May 1.

Lake Tahoe Real Estate: 2011 Weekly Real Estate Market Report

Truckee Real Estate – North Lake Tahoe Real Estate MLS

 

Residential and Lot/Land Real Estate

 

Week of: April 25th to May 1st

 

Active Lake Tahoe Real Estate Inventory Summary:

Active Lake Tahoe Real Estate Listings: The active inventory for residential and lot Lake Tahoe Real Estate listings went up slightly from 1,547 the previous week to 1,568 active Lake Tahoe Real Estate listings in the market; 1,081 residential Lake Tahoe Real Estate and 487 lots and land listed for sale.  Coldwell Banker has over 15% of the active Lake Tahoe Real Estate listings in the market.

Lake Tahoe Foreclosures (REO)-Short Sale Listings: Of the active listings, there are 165 properties listed as Lake Tahoe short sales, (10.5%) and 45 properties listed as Lake Tahoe Foreclosures (REO) sales, (2.9%).

Months of Inventory: Based on the current inventory and Lake Tahoe Real Estate sales for the previous 30-day period, the market has over 13.5-months of inventory available.  The inventory of Lake Tahoe properties and land at today’s prices continues to favor the buyer interested in an investment Lake Tahoe Real Estate, Lake Tahoe vacation property or moving up to a larger home or better location.

 

Sales Summary:  Year-To-Date

Total Truckee Real estate  and Lake Tahoe Real Estate Sales 2011 Vs 2010:

For 2011, there have been 375 Truckee and Lake Tahoe Real Estate sold in the market as compared to 408 for the same period in 2010 which is a (8.1%) decrease in sales.

Of the Truckee and Lake Tahoe Real Estate sold, 99 have been Lake Tahoe foreclosures (REO’s), (26.4%), and 51 have been Lake Tahoe Short Sales, (13.6%) which results in 40% of the properties sold being a distressed property.  In 2010 for the same period, there were 100 Lake Tahoe foreclosures (REO) sales and 60 Lake Tahoe short sales or 39% of the total Lake Tahoe Real Estate sales.

For the year, there have been 259 Truckee and Lake Tahoe Real Estate sold priced below $500,000, 89 Lake Tahoe Real Estate sold between $500,000 and $1,000,000 and 27 properties sold over $1,000,000.

Median and Average Truckee Real Estate and Lake Tahoe Real Estate Sales Prices 2011 Vs 2010:

The median Truckee Real Estate and Lake Tahoe Real Estate sales price for properties sold year to date was $365,000 and the average Truckee and Lake Tahoe Real Estate sales price went up slightly to $482,530. For the same period in 2010, the median sales price was $400,000 and the average sales price was $514,503 which is an (8.8%) and (6.2%) decline in price respectively year over year.

Last Week’s Lake Tahoe Real Estate and Truckee Real Estate Sales: For the week of April 25th a total of 27 Lake Tahoe Real Estate sold which went up nicely from the previous week’s sales of 21 Lake Tahoe Real Estate.  Of the Lake Tahoe Real Estate sold last week, five (5) of the properties sold were priced over $750,000.

Pending Lake Tahoe Real Estate and Truckee Real Estate Sales: Currently there are 151 pending Lake Tahoe Real Estate sales in the market which is up slightly from the previous week with 14 being a Lake Tahoe short sale and 22 being Lake Tahoe foreclosures REO properties.

 

Market Activity Summary:

The last week of April saw Truckee Real Estate and Lake Tahoe Real Estate sales rebound from the two preceding weeks to 27 properties closing escrow.  April Lake Tahoe Real Estate sales for 2011 were off by 27 sales for the month as compared to April Lake Tahoe Real Estate sales in 2010.  Because of the slower sales in April, overall Lake Tahoe Real Estate sales year to date as compared to last year are down 8.1% from 408 sales in 2010 versus 375 sales in 2011.

The hottest segment of the market continues to be Lake Tahoe Real Estate priced under $500,000 as roughly 69% or 259 properties have sold in this price range.  Sales of Lake Tahoe Luxury homes priced above $1,000,000 have gained nicely in the last 45 days but continued to be off from last year as 27 Lake Tahoe Luxury homes have sold year to date in this price range as compared to 37 Lake Tahoe Luxury homes last year.  The mid range market sales, $500,000 to $1,000,000 are down slightly from last year with 89 properties sold or 24% of the total sales.

Distressed properties, Lake Tahoe foreclosures REO and Lake Tahoe Short Sales represent 40% of the Lake Tahoe Real Estate sales in the market which is almost identical to Lake Tahoe foreclosure REO and Lake Tahoe Short sales in 2010. However, there is still considerable interest in non distressed properties as many are priced at levels that are too good to pass up.

Median Lake Tahoe Real Estate sales prices have decreased by 8.8% to $365,000 while the average Lake Tahoe Real Estate sales prices have decreased by 6.2% to $482,530.  While other parts of California are reporting median prices stabilizing or increasing slightly, that is not the case across the board in the Lake Tahoe Real Estate-Truckee Real Estate market.

All in all, with the existing inventory levels, the lower median and average Lake Tahoe Real Estate sales prices, favorable interest rates available to qualified Buyers, now may be the right time for that investment in a vacation home or investment property especially before the spring.

 

 

Contact Lake Tahoe Realtor, Olja Mihic, Your Agent Today…For a Free Market Valuation

 

Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, Lake Tahoe 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

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