We are over half way through the year and the buzz is how is the market doing? There are some interesting numbers to consider. For the Truckee area the number of sales versus 2006 is up 20%, the total dollar volume just about the same as 2006 and the median price is down about 15%. What does this mean? As has been reported, the lower end of the market is where the activity has been, thereby lowering the median sales price. Including the whole market area, Truckee, North Lake Tahoe, Squaw and Alpine, the number of sales are marginally off, the median price down about 12% and the total dollar volume down 13%.
Now you have to factor in the new projects such as Grays, Timilick, Northstar and Martis Camp. These sales are not included in our numbers. Certainly some buyers would have purchased in the other subdivisions if the new offerings were not available. So overall the market is just as we forecast, about the same as last year with the emphasis being on the lower price ranges and the very high price ranges. The Truckee area is where the action is.