Truckee Real Estate Market Update
August 31, 2008
Sales in Truckee have picked up a little in the past couple weeks. 7 new homes came on the market this week in Truckee to make a total of 280 currently listed single family homes. 2 homes went into escrow this week – 1 in in Prosser and 1 in Sierra Meadows. There are currently 17 single family homes under contract in Truckee. 6 homes sold in Truckee this week. 5 of them were listed in the high $300K range to the high $400K range. The most expensive home was one in Northstar that sold for $1,075,000. The average list to sales price was 93%. The absorption rate in Truckee is currently around 6% and there is still about 16 months of inventory for the whole area. Here is a snapshot of the sales activity for the different neighborhoods in Truckee for the week of August 24, 2008-August 31, 2008.
| AREA | Current homes/ condos | Low | High | Avg. | Avg. days listed | SFR Pend-ing | Sold SFR | |
| Tahoe Donner | 183 | 33 | $299,950 | $5.5 mil. | $617,466 | 106 | 23 | 3 |
| Sierra Meadows/ Prosser | 51 | 3 | $270K | $2,695K | $780,821 | 109 | 7 | 2 |
| Lahanton | 30 | 0 | $1,695K | $7,950K | $3,243,916 | 241 | 1 | 0 |
| Gray’s Crossing/ Old Green. | 36 | 8 | $1,149K | $3,995K | $1,960,916 | 155 | 0 | 0 |
| Northstar | 41 | 62 | $799K | $4,950K | $1,603,754 | 157 | 1 | 1 |
| Alpine M./ Squaw Vly. | 48 | 90 | $499K | $5,750K | $1,787,395 | 184 | 6 | 0 |
| Donner Lake | 49 | 5 | $329K | $3,950K | $972,653 | 165 | 3 | 3 |
| Glenshire/ Devonshire | 63 | 0 | $279K | $2,950K | $762,077 | 132 | 3 | 2 |
Tahoe/Truckee Mid Year Residential Report 2008
August 25, 2008
This mid year residential report for the Tahoe/Truckee area was just published by our company. It compares pricing for this year compared to years past. This is what it has to say about Truckee:
Alpine Meadows/Squaw Valley to Truckee – Price declines were more moderate in this area than others. Median prices for single-family homes declined by 2% to $633,000. The average price actually posted a 2% gain to $833,000. Single-family sales volume declined by 16% dropping from $192.7 million to $161.6 million. Units sold were off 18% to 194. The median condo price increased by 7% and the average price moved up 12% to $944,136. These price increases were driven by new condo sales at premier developments in areas like Northstar. Overall, condominium sales declined with volume and unit sales down 31% and 38% respectively.
Click on the picture below to see the full report…
