The Market Monitor
June 2, 2010
Re: Truckee Area Real Estate Market
Dear Client;
Market Overview
The market is taking its seasonal cool down, which is typical for this time of year. Once skiing ends and summer is yet to start, the real estate traffic slows down dramatically. The weather has also been very challenging this spring. So, we will need to wait for the end of June to come and see what happens to the demand. There have been some incredible deals in the last couple of months, especially in the lot department.
Tahoe Donner
Home sales in Tahoe Donner have definitely slowed the last 2 months back to the levels of 2 years ago. A very telling stat is the sales to list ratio. The first 3 months were way over 100% which is huge, with normal being 65% for a balanced market and the last 2 months were in the 30% range which is very low. Inventory is growing quickly. There were 2 lot sales and asking prices are sliding down and eventually will find the level that buyers are interested in.
Lahontan/Martis Camp/Timilick
There was one home sale in Lahontan. Lot sales over the winter have been very strong in Martis Camp.
Old Greenwood/Grays Crossing
There was 1 townhome sale in Old Greenwood and the Sunset House in Grays Crossing went into contract as a short sale, asking price lowered to $1,900,000 from the initial $4.3 million.
Northstar
Northstar is staying robust with 5 home and condo sales. The highest home sale is $2,995,000.
Glenshire/Sierra Meadows/Prosser/Donner Lake
There were 17 sales which is quite a drop from the first of the year. The highest sales price was $650,000 and the median is $333,000. So it is still the entry level that is selling in this area.
Squaw Valley / Alpine Meadows
There were 9 condo sales in Squaw, 1 condo and 1 home in Alpine. Buyers are picking up the deals in the world class Squaw Valley ski area.
If you would like more detailed information or specific information related to your property, please do not hesitate to call.
If you know anyone that we can assist to become an owner in our beautiful area and be one of your neighbors, please let us know. If there is anything we can do to help you with your business, we would like to know.
Thank you for your support and referrals.
Sincerely,
Bob and Nancy
The Davis ♦ Yoder Realty Group
Keller Williams Boice Realty
530-550-5175
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