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There are currently 195 single family homes listed in the town of Truckee. 5 of these listings are contingent short sales. There are 13 homes currently under contract. This puts the absorption rate just over 6% which means that 94% of homes on the market are failing to sell. 7 new homes came on the market this week - one in just about every neighborhood in Truckee. Only one property went into contract this week. It was a Stoneridge condo listed for $399,950. 4 homes and 1 condo sold this week. 2 homes sold in Ponderosa Palisades; one for $390,000 (bank owned property) and the other for $462,500. 2 sold in Glenshire; one for $400,000 and the other for $1,400,000. The average days on market was 41 days.
There are currently 173 homes on the market in Tahoe Donner. 6 new homes came on the market and 2 went pending. 2 new condo listings came on the market this week. 18 homes are currently under contract. 2 of these homes are bank owned and one is a short sale. 2 homes sold this week. One was a short sale that ended up selling for $560,000 and the other home sold for $515,000. With 173 homes on the market and 18 homes under contract, Tahoe Donner currently has an absorption rate of about 10%. About a month ago, the absorbtion rate was closer to 15%. There are many more homes listed and not quite as many under contract. We should start to see more activity over the next couple months as the busy buying season starts to take off.
I took a private tour of some of the condos in the Village at Northstar yesterday. Prices for these condos are unbeatable! They are currently discounted about 25%. This only lasts until a certain amount of money is brought in, and then prices go back to normal. These prices are not currently listed in the MLS or available to the public. If you or anyone you know has ever considered owning in the Village at Northstar, now is the time to act! The Village at Northstar is the happening place right now!
Here is a list of some of the condos currently available in The Village:
1 Bedroom/1 Bathroom, 830 sq. ft., fully furnished for only $615,000
2 Bedroom/2 Bathroom, 1,205 sq. ft., fully furnished for only $895,000
3 Bedroom/3 Bathroom, 1,592 sq. ft., for $1,190,000
3 Bedroom/3 Bathroom, 1,647 sq. ft. for $1,390,000 (previously priced around $1.9 mil.)
The inventory in Tahoe Donner is the highest it has been in awhile. There are currently 170 single family homes listed. There were 8 new homes that came on the market this week and no new condo listings. There are 19 homes pending (same number as last week but some are different properties). One house was a bank owned property that was listed at $430,000, and then reduced to $400k this week, and went pending shortly thereafter. 5 homes sold since last week with the lowest selling at $365,000 and the highest selling at $1,850,000. It continues to be a buyers market with lots of inventory to chose from. I heard good news this week for Tahoe Donner-while many other neighborhoods in the area are marked “declining market” by loan officers, Tahoe Donner is one of the few that is not considered a declining market.
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