Glenshire/Devonshire
Glenshire/Devonshire is located east of Truckee and about 25 minutes from Reno. Many local homeowners live here and enjoy amenities including a swimming pool, clubhouse, and tennis courts. Homes in Glenshire range from $315,000 to $1,000,000. Some local homeowners like living in this area because it is near Glenshire Elmentary and the low snow load.
Truckee Real Estate Market Update July 2008
August 3, 2008
| AREA | Current homes/ condos | Low | High | Avg. | Avg. days listed | SFR Pend-ing | Sold SFR 07/08 | Sold SFR 2008 | |
| Tahoe Donner | 178 | 40 | $250K | $5.5 mil. | $965,188 | 113 | 23 | 15 | 103 |
| Sierra Meadows/ Prosser | 47 | 3 | $355K | $2,695K | $786,091 | 105 | 8 | 1 | 22 |
| Lahanton | 30 | 0 | $1,695K | $7,950K | $3,313,250 | 225 | 1 | 1 | 8 |
| Gray’s Crossing/ Old Green. | 35 | 8 | $1,199K | $3,995K | $1,595,028 | 144 | 1 | 0 | 3 |
| Northstar | 43 | 61 | $799K | $6.2 mil. | $1,705,417 | 127 | 0 | 0 | 6 |
| Alpine M./ Squaw Vly. | 47 | 96 | $499K | $5,750K | $1,796,042 | 176 | 4 | 0 | 11 |
| Donner Lake | 48 | 7 | $329K | $3,950K | $1,025,358 | 158 | 4 | 2 | 6 |
| Glenshire/ Devonshire | 66 | 0 | $279K | $3,250K | $735,641 | 118 | 4 | 7 | 31 |
Sales in July were down 14% compared to July 2007. 48 single family homes sold in July 2008 compared to the 56 homes that sold last year. The price range where we saw the most activity was in the $300,000 to $700,000 range.
There are currently 1190 single family homes listed in the Tahoe/Truckee area. This is 72 more listings that last month. 365 condos are currently listed in the area. Last year at this time there were 1114 single family homes and 412 condos listed. 12 of the 1190 single family homes are listed as short sales. The average listing price is $1,260,807 (down 4% from last month) and the median listing price is $787,000 (down 1% from last month). The average days on market is 143 days and the median days on market is 87 days. There are currently 81 homes under contract (up 130% from last month). The absorption rate for the homes listed in our MLS is about 15% (up 40% from last month). This means that 85% of listed homes are failing to sell. There is about 15 months of inventory in our MLS for the Tahoe/Truckee area.
