Tahoe/Truckee Real Estate 2010 1st Quarter Stats
April 22, 2010
The following charts show some of the first quarter stats for 2010 for the real estate market in Tahoe and Truckee.
The first chart compares some of the sold numbers for the first quarter in 2009 compared to 2010. The first graph shows sales volume for single family homes & condos, the second graph shows median & average price and the third graph shows units sold. For single family homes, there was a 22% increase in the sales volume. Condos saw a 174% increase. The median and average price for homes sold both decreased by 29% in 2010 compared to 2009. Units sold for single family homes increased by 50% for homes under $1 mil. and increased by 71% for homes over $1 mil. It’s nice to see these positive numbers!
The second charts break down the numbers by price banding and area. The areas included are Incline Village, East Shore Lake Tahoe, Truckee, Tahoe City, South Lake Tahoe, Reno, Sparks, and Carson Valley. In most areas, the majority of home sales was in the lower price range.
Click on the images below for enlarged versions of the graphs.
Tahoe/Truckee Real Estate Year End Stats 2009
January 14, 2010
The following charts show some of the 2009 year end stats for the real estate market in Tahoe and Truckee.
The first chart compares some of the sold numbers from 2008 to 2009. The first page shows sales volume for single family homes & condos, the second page shows median & average price and the third page shows units sold. For single family homes, there was a 2% decrease in the sales volume. Condos saw a 16% decrease.
The second charts break down the numbers by price banding and area. The areas included are Incline Village, East Shore Lake Tahoe, Truckee, Tahoe City, South Lake Tahoe, Reno, Sparks, and Carson Valley. In most areas, the majority of home sales was in the lower price range.
Click on the images below for enlarged versions of the graphs.
Lake Tahoe & Truckee December Real Estate Sales Stats
January 11, 2010
Lots of activity with home sales in the Tahoe/Truckee area! 93 homes sold in December 2009! The most activity last month was in the $300K-$499K price range with 33 homes selling. 9 homes sold for under $299K, 24 for $500K-$699K, and 18 for $700K-$899K. There was more activity in the upper end price range with 9 homes selling for over $1 million! The well priced homes, especially in the lesser price range, do not seem to be lasting on the market for very long!
This information was taken from our local multiple listing service and is for the dates of December 1-31, 2009. Click on the image below for an enlarged version of the chart.
Lake Tahoe & Truckee November Real Estate Sales Stats
December 4, 2009
82 more homes sold during the month of November 2009! There were also 19 condos and 15 “other” types of properties in the area that sold. We are still seeing the most activity in the $500K and under price range. 9 homes sold for under $299K, 34 for $300K-$499K, 14 for $500K-$699K, and 9 for $700K-$899K. More good news is that there were 16 homes that sold for over $1 million! We hadn’t seen much activity in this price range for the majority of the year but are just starting to see more homes selling in this higher price range. 3 homes sold for over $3 million which is also very positive news!
This information was taken from our local multiple listing service and is for the dates of November 1-30, 2009. Click on the image below for an enlarged version of the chart.
Lake Tahoe Activity Stats
November 11, 2009
An agent in our office just put together some very interesting charts showing activity stats for the Lake Tahoe and Truckee area. According to the numbers displayed on these charts, Lake Tahoe may have reached its bottom!
After a dramatic five year slide sales volume appears to be bottoming out.
In the first 3 quarters of 2004 there were 1,282 home transactions in the Tahoe Sierra MLS. Since that time we have seen transactions slide to 649 for the same three quarters in 2009. However, as shown in the second graph, the 3rd quarter of 2009 saw a significant increase over 2008’s 3rd quarter. I predict this trend will continue and 2009’s total transactions will exceed 2008’s. This will be the first increase of yearly transactions in five years.
Transaction volume is one of the main “health” indicators of the housing market. As transactions increase it implies that more buyers are entering the market. As this trend continues, prices will begin to feel upward pressure. It may be too soon to call this the bottom of the market as distressed properties continue to influence pricing. However, in the future we may look back to the third quarter of 2009 and call it the beginning of the Tahoe/Truckee housing recovery.
