Winter has begun to set in finally. We have snow and the weather outside is frightful – 11:43 am and it is 3 degrees Fahrenheit. We just got the stats today at our sales meeting and the good news is that the inventory is flattening out. In our entire multiple listing service, we currently have a 15 month supply of inventory as opposed to last year at this time when there was a 37 month supply. Tahoe Donner is showing a 4 month supply compared to last year’s 11 month supply at this time. Sales are down from last month – 92 single family residences (including condos) sold in November. 18 of these were bank owned (REO), 8 were short sales (SS), making distressed properties 28% of total sales. Here are the statistics from the Tahoe MLS. The solds from November 1 - 30, 2009:
Tahoe Donner: 15 homes, (2 REOs,), 5 condos
Northstar: 2 homes, 2 condos
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 8 homes (2 REOs, 1 SS)
Prosser Lake Area: 7 homes (1 REO, 1 SS)
Sierra Meadows, Ponderosa Palisades, Winter Creek: 4 homes (1 REO) 3 condos (3 REOs)
Martiswoods, Ponderosa Ranchos: 0 residential properties
Olympic Heights: 0 residential properties
Lahontan: 2 homes (1 REO)
Timlick: 0 residential properties
Old Greenwood: 0 residential properties
Gray’s Crossing: 0 residential properties
Martis Camp: 0 residential properties
Truckee Proper: 2 homes (1 SS), 1 condo
Donner Crest: 0 residential properties
Donner Lake: 5 homes (1 SS)
Donner Summit: 0 residential properties
West shore Lake Tahoe: 9 homes (1 REO), 2 condos (2 REOs)
Tahoe City: 4 homes, 2 condos
North shore Lake Tahoe: 6 homes (2 REOs)
Kings Beach & Tahoe Vista: 8 homes (2 REOs, 2 SS), 3 condos (2 REOs)
Alpine & Squaw Valley: 7 homes (1 REO), 3 condos (2 REOs)
Shared Ownerships – entire region: 3 sales
Mobile Homes – entire region: 0 sales
Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 13
Highest priced home or condo sold: This month the prize goes to a DONNER LAKEFRONT. 14732 Southshore Drive, 5 beds, 6 baths and a 3 car garage with 6326 square feet went for $3,700,000. Originally priced at $4,000,000, the buyer saved himself $300,000. by paying ALL CASH. Only 40 days on the market – I would say the sale was made in heaven.
Lowest priced home or condo sold: at $151,000 someone got his/her little piece of Tahoe. 4090 High St. in Carnelian Bay, a 1432 square foot fixer “A” frame, priced right because this buyer snagged it after only 5 days on the market.
The list to sell ration on the median was 92%. In other words, the homes sold within 92% of the list price. The median list price for this period was $487,000, median sale price was $449,500. Major Deals out there people!!!
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