Truckee Short Sales

Truckee REOs

Alpine Meadows/Squaw Short Sales

Alpine Meadows/Squaw REOs

Donner Lake Short Sales & REOs

Northstar Short Sales/REOs

Tahoe City Short Sales

Tahoe Donner Short Sales & REOs

West Shore Lake Tahoe Short Sales & REOs

Land Short Sales

Land REOs

Nationwide
Nationwide, great selection, discounted prices, and low interest rates are attracting buyers in large numbers. The problem is on the supply-side. There is a tremendous backlog of distressed properties that will take years to be absorbed by buyers. April marked the first time in 8 months that average home prices increased in our country’s 20 largest metro areas. Average home prices have lost over 32% of their value since their peak in June/July of 2006, bringing values back to 2003 levels.

Truckee & Lake Tahoe
The National Real Estate Market is a combination of thousands of local markets. Here is what is happening in our local area:
In the Lake Tahoe and Truckee areas the statistics for the first half of 2011 are mixed. Inventory levels have gone up a bit with 988 active single family homes listed in our MLS. The number of sales increased by 6% to 396 home sales in 2011 year to date. The average and median home sale price declined by 14% and  9% to $554,573 and $430,000 respectively. Total sales volume dropped by 8% to $219,611,029. On a positive note, 122 single family homes are currently in escrow which is a great way to start the 3rd quarter!

This graph shows how real estate numbers in 2011 compare with real estate numbers from last year. The real estate numbers below represent single family home sales in Truckee (including Donner Lake, Glenshire, Lahontan, Martis Camp, Old Greenwood, Gray’s Crossing, Sierra Meadows, and Prosser) and Tahoe Donner for the 2nd quarter 2011 (April 1-June 30).

Truckee Real Estate Update 2nd Quarter 2011

This graph represents sold single family homes in the 2nd quarter of 2011 broken down by each neighborhood. The information was taken from the Tahoe Sierra Multiple Listing Service.

Truckee Lake Tahoe Real Estate - Sold Homes 2nd Quarter 2011

Lahontan
4 Lahontan homes have sold so far this year. All were standard sales (not short sales or REOs). They were on the market an average of 188 days. The average sold price was $1.425 million. 1 home is pending and there are 23 single family homes listed. Click on the link to view current Lahontan homes for sale.

Martis Camp
There have been no home sales that have been recorded in our MLS for 2011. 2 are currently in escrow and there are 6 Martis Camp homes for sale.

Old Greenwood
1 home sold in Old Greenwood so far this year. It was a standard sale that was on the market for just 2 days and sold for $2.275 million. There are no homes in escrow. There are 5 Old Greenwood homes for sale.

Gray’s Crossing
5 homes have sold in Gray’s Crossing in 2011. 2 were REOs, 2 were short sales and 1 was a standard sale. The homes were on the market an average of 281 days. The average sale price was $759,060. There are not any homes in escrow.  Click on the link to view current Gray’s Crossing Homes for Sale.

Timilick
No homes have sold in Timilick so far for 2011. There are no homes in escrow. 1 Timlick home is currently for sale.

Glenshire (including Glenshire, Devonshire, Sierra Bluffs, Elkhorn Ridge, Juniper Creek, & Juniper Hills)
11 Glenshire homes sold last month. 3 were REOs, 3 were short sales and the rest were standard sales. The lowest priced home sold for $200K and the highest price was $620K. The homes were on the market an average of just 85 days. There are currently 13 homes in escrow. 48 single family homes are listed in Glenshire. The average listed price is $773,302. 16 of these are short sales and 2 are REOs.

Donner Lake
2 homes sold at Donner Lake last month. 1 sold for $180K and the other sold for $550K. They were both standard sales. The average days on market was 119. 5 homes are under contract at Donner Lake. There are currently 33 single family homes listed. The average list price is $1.1 million. Click on the link to view current Donner Lake homes for sale.

Prosser
1 home sold in Prosser in May. The home was bank owned, on the market for just 33 days and sold for $264K. 1 home is in escrow in Prosser. 15 homes are listed. 3 are short sales and the rest are standard sales.

Sierra Meadows/Ponderosa Palisades (also includes Ponderosa Meadows, Ponderosa Ranch & Pinyon Creek)
2 homes sold here last month. 1 sold for $240K and the other for $312K. They were on the market an average of just 20 days. One was an REO and the other was a standard sale. 9 homes are pending in Sierra Meadows. There are 22 homes remaining on the market.

Glenshire
3 homes sold in Glenshire last month. 1 was a short sale, 1 was an REO and 1 was a standard sale. The sales prices were $240K, $267K, and $615K. The average days on market was 147 days. 11 Glenshire homes are currently in escrow. There are 35 active single family homes listed in Glenshire. The average listed price is $743,568. 4 homes are REOs and 10 are short sales.

Donner Lake
1 Donner Lake home sold last month. It was a short sale on the market for 519 days and sold for $322,200.  4 homes are currently under contract at Donner Lake. 34 homes are listed. The average list price is $1,144,400. There are 2 REOs and 3 short sales currently on the market. Click on the link to view current Donner Lake homes for sale.

Prosser
2 homes sold at Prosser during the month of January. 1 was a short sale and 1 was an REO. They were on the market an average of 66 days. The sold prices were $175K and $400K. 4 Prosser homes are currently in escrow. There are just 10 active single family homes listed right now with the average listed price at $625,170. 2 homes are short sales and 2 are REOs.

Sierra Meadows/Ponderosa Palisades
There are currently 22 homes on the market in Sierra Meadows. 3 are short sales. The average listed price is $491,350. 1 home is in escrow. 3 homes sold last month in Sierra Meadows. The sold prices were $325K, $390K, and $665K.

Click on the image to view an enlarged version of current interest rates!

Lahontan
There has not been too much activity in Lahontan this past month. No homes sold and there are currently no homes in escrow. 16 homes are currently listed and they are all standard sales (no short sales or REOs). Click on the link to view current Lahontan homes for sale.

Martis Camp
1 home sold in Martis Camp last month. The sale price was $2,195,000.  There are currently 5 Martis Camp homes for sale (all standard sales).

Old Greenwood
There were no home sales in Old Greenwood last month and there are currently no homes in escrow. 5 homes are currently listed (also all standard sales). Click on the link to view current homes for sale in Old Greenwood.

Gray’s Crossing
1 home sold in Gray’s Crossing last month. The home was originally listed for $995,000, on the market for 103 days, and sold for $757,500. 3 homes are currently in escrow and 7 homes are currently listed. Click on the link to view current Gray’s Crossing Homes for Sale.

Timilick
There were no homes that sold last month in Timilick. No homes are in escrow. 1 Timilick home is currently for sale.

Glenshire
4 homes sold over the past month in Glenshire. The sold prices were $303,500, $315K, $322K, and $587,500. The homes were on the market an average of 106 days. 9 Glenshire homes are currently in escrow. 42 homes are currently listed in Glenshire. The average listed price is $662K. 11 of these are short sales and 3 are REOs.

Donner Lake
3 Donner Lake homes sold last month. The sold prices were $640K, $975K, and $1.5 million. The homes were on the market an average of 139 days. 3 Donner Lake homes are currently in escrow. There are currently 44 homes listed at Donner Lake with the average listed price of $975K. There are 4 REOs and 6 short sales. Click on the link to view current Donner Lake homes for sale.

Prosser
There are currently 16 homes listed in Prosser. 3 of these are REOs and 4 are short sales. 1 Prosser home is currently in escrow. 2 Prosser homes sold last month. The sold prices were $450K and $560K. The homes were on the market an average of just 26 days.

Sierra Meadows/Ponderosa Palisades
There are currently 23 single family homes listed in this area. 5 are short sales. The average listed price is $545K. 6 Sierra Meadows homes sold last month. The sold prices were $262K, $275K, $305K, $324,500, $337K, and $470K. The average days on market was 41 days. 2 homes are currently in escrow.