Tahoe Truckee Real Estate Market Update
July 3, 2008
We saw a bit more activity in the past month than we have seen in awhile. Home sales are only down 5% compared to last June. 62 single family homes sold in June of 2007 and 59 homes successfully closed this June.There are currently 1118 single family homes and 375 condos listed in the Tahoe/Truckee area. This is not too much of an influx of inventory considering last year at this time there were 1063 single family homes and 399 condos on the market. Of the 1118 homes on the market 4 of these are listed as short sales. The average listing price is $1,312,394 and the median listing price is $795,000. The average days on market is 137. There are currently 62 homes under contract. The absorption rate for the whole Truckee area is about 6% and there is about 18 months of inventory overall. Read More
