Summer in Tahoe Gets “Hot”

Summer has brought more buyers to Tahoe and there are escrows over $1,000,000.  Currently we have two lakefront escrows over $5,000,000 with several offers coming in on others.  I just closed one of the best lakeview properties for my clients.  This home had panoramic lakeviews from each floor.  Sale price was $1,025,000. 

Lake Tahoe & Truckee July Real Estate Sales Stats

Another 72 homes sold in the Tahoe/Truckee area last month. 442 single family homes have now sold in 2010. The most homes sold last month were in Truckee and the North Shore of Lake Tahoe with 17 homes selling in each area. 13 homes sold in Tahoe Donner and 12 on the West Shore of Lake Tahoe. 2 homes sold in Alpine/Squaw, 1 in Northstar, and 2 in Lahontan. 29 homes sold in the $300K-$499K price range. Another 17 sold for under $299K. We saw more activity in the upper end market last month with 12 homes selling for over $1 million and 1 over $3 million! 19 condos sold last month.

This information was taken from our local multiple listing service and is for the dates of July 1-31, 2010. Click on the image below for an enlarged version of the chart and more info.

Tahoe Donner Market Update – July 2010

The real estate market in Tahoe Donner is doing well! 13 homes sold last month – July 2010. The lowest priced home sold for $350K and the highest priced home sold for $1.1 mil. The average home sale price was $567,500 and the median home sale price was $490K. The average days on market for homes sold was 126 days. 1 home was an REO (bank owned) property and the rest were standard sales. 102 single family homes have sold in Tahoe Donner now year to date. There are currently 165 active homes on the market. 19 of these are short sales and 6 are REOs. 28 homes are currently in escrow. The absorption rate is around 17% and there is 6 months supply of inventory remaining in Tahoe Donner. Click on the link for current homes for sale in Tahoe Donner.