Lake Tahoe & Truckee April 2011 Real Estate Sales Stats
May 12, 2011
There were 63 single family homes sales recorded in the Tahoe Sierra Multiple Listing Service for last month (April 2011). This makes a total of 247 homes sales this year!
Home sales in the $499K and under saw the most activity last month. There were 21 homes that sold for between $300K-$499K and 20 that sold for under $299K. 8 homes sold for $500K-$699K. 8 homes sold for over $1 million! The most expensive sold for $3,350,000 in Norden, CA. 9 of the home sales last month were short sales and 18 were REOs.
This information was taken from our local multiple listing service and is for the dates of April 1-30, 2011. Click on the image below for an enlarged version of the chart and more info.
Lake Tahoe & Truckee March 2011 Real Estate Sales Stats
April 8, 2011
We are continuing to see quite a bit of activity in the Lake Tahoe and Truckee real estate market! 88 homes sold last month! This makes a total of 184 home sales in our MLS for 2011.
The price range that continues to see the most activity is the $300K-$499K range. 33 homes in this price range sold last month. 20 homes sold in the $400K-$599K range, and 17 sold for $299K or under.
7 homes sold for over $1 million in March! The most expensive home sold for $6.3 million.
This information was taken from our local multiple listing service and is for the dates of March 1-31, 2011. Click on the image below for an enlarged version of the chart and more info.
Will Sellers Get More Money if They Wait?
March 11, 2011
Interesting article for sellers who are deciding if now is the best time to sell.
Sellers in any real estate market are looking to get the best possible price. If you are looking to sell in the next year, today’s price may well be the best price. Home values stabilized somewhat in 2010. Many hoped that was a sign that values had bottomed out and we would see price appreciation in 2011. Studies released this week have painted a different picture.
If we look at CoreLogic‘s January Home Price Index (HPI), we see that prices are again beginning to decline:
National home prices, including distressed sales, declined by 5.7 percent in January 2011 compared to January 2010…
Mark Fleming, chief economist with CoreLogic, said, “A number of factors continue to dampen any recovery in the housing market. Negative equity, which limits the mobility of homeowners, weak demand and the overhang of shadow inventory all continue to exert downward pressure on housing prices. We are looking out for renewed demand in the coming months as the spring buying season gets underway to hopefully reduce the downward pressure.”
They are not talking about the spring market increasing or even stabilizing prices. They hope it will “reduce” the pressure to drive prices lower.
Radar Logic’s RPX Composite Price comes to virtually the same conclusion:
Radar Logic believes the RPX Composite price will continue to exhibit year-on-year declines throughout 2011 due to a growing supply of homes for sale and in the inventories of financial institutions, and weakening demand due to the reduction of government incentives for home buyers. Moreover, banks are facing uncertainty over whether they will be forced by regulators to expand mortgage modifications, and may reduce lending and tighten standards as a result.
“No matter what you call it, a ‘double dip’ or the continuation of a long process of deterioration, the current trend in home prices is evidence that housing markets are continuing to languish,” said Quinn Eddins, Director of Research at Radar Logic. “We expect the negative trend to continue under a severe supply overhang that includes a large and growing ‘shadow inventory’ of homes in default or foreclosure.”
Bottom Line
It seems that prices have again begun to fall nationally. With the overhang of existing and shadow inventory, prices will probably continue to decline throughout most of 2011. If you’re thinking of selling, now might be the best time. Check with a local real estate professional to see how this might impact your area.
Lake Tahoe & Truckee February 2011 Real Estate Sales Stats
March 7, 2011
117 single family homes have sold in our MLS so far for 2011! 48 single family homes sold last month.
The price range that continues to see the most activity is the $300K-$499K range. 17 homes in this price range sold last month. 12 homes sold for $299K or under. 8 homes sold for $500-$699K and 8 homes sold for $700K-$899K. Just 1 home sold for over $1 million last month. The sold price was $1.2 and the home was located in Homewood. 6 of the sold homes last month were short sales and 15 were REOs.
This information was taken from our local multiple listing service and is for the dates of February 1-28, 2011. Click on the image below for an enlarged version of the chart and more info.
Lake Tahoe & Truckee January 2011 Real Estate Sales Stats
February 4, 2011
The year is starting off on positive note with real estate sales during the first month of 2011. 44 single family homes and 19 condos sold last month.
The $300K-$499K price range had the most sales with 15 total homes selling last month. 14 homes sold for under $299K. 3 homes sold for over $1 million. The majority of the home sales were in Truckee (18 home sales) & Tahoe Donner (9 home sales). 8 short sales sold last month and 10 bank owned properties.
This information was taken from our local multiple listing service and is for the dates of January 1-31, 2011. Click on the image below for an enlarged version of the chart and more info.
