|
A Lake Tahoe and Truckee Real Estate Newsletter for my Clients and Friends |
|
All content Copyrighted © John Williamson 2012. All rights reserved. Contact John Williamson and obtain written permission before using or reproducing any material contained on this site. |
|
Lake Tahoe and Truckee Market Summary As of January 31, 2012
Market Summary
Click on this link for the 2011 year end real estate market summary for Tahoe Donner, Truckee, and North Lake Tahoe (use your browser back arrow to get back to this page).
Low interest rates are still available making owning a home affordable. · As of Wednesday, February 1, 2012, interest rates have remained very low. For your information purposes only, the below rates are listed as they were listed on the internet for that day. · 3.875% for the 30 year fixed conforming loans up to $417,000. · 3.000% for the 15 year fixed conforming loans up to $417,000. · 4.000% for the 30 year fixed super conforming loans up to $562,500. · 4.125% for the 30 year fixed Jumbo loans.
Local contractors state it is 30% less expensive to buy an existing single family home than to buy the lot and build the same home.
Graphs that support the below market summary are shown directly after the summary. · Tahoe Donner: · Tahoe Donner’s current absorption rate is 4 months of unsold active inventory of single family homes, which is considered a Sellers market (6 months of inventory is considered a neutral market). Months of inventory is the number of active single family homes divided by the average monthly home sales for the last 3 months. Stated another way, if no additional single family homes came on the market it would take 4 months to sell the existing inventory if the home sales per month stayed constant. · Tahoe Donner single family home sales for the last 3 months averaged 19 homes sold per month, up by 6% when compared to the monthly average for 2011 of 18 homes sold/month. · For February 2012 an expected 18 single family homes will sell in Tahoe Donner (sold already February or scheduled to close escrow), which is equal to the 2011 monthly average. · The median sold price for single family homes in Tahoe Donner in the last 3 months is $494,590, which is -1% below the 2011 median sold price of $500,000. · For Tahoe Donner, bank and short sales for the last 3 months were 28% as a percentage of sales of single family homes. · Truckee: · Truckee’s current absorption rate is 4 months of unsold active inventory of single family homes, which is considered a Seller’s market. · For Truckee, single family home sales for the last 3 months averaged 46 homes sold per month, up by 2% when compared to the monthly average for 2011 of 45 homes sold per month. For Truckee 47 single family homes are expected to sell in December. · For Truckee, bank and short sales for the last 3 months were 43% as a percentage of sales of single family homes. · North Lake Tahoe: · North Lake Tahoe’s absorption rate is 7 months of unsold active inventory single family homes, which is considered a Buyers market. · For North Lake Tahoe, single family home sales for the last 3 months averaged 24 homes sold per month, up by 13% when compared to the monthly average of 21 homes sold per month for 2011. North Lake Tahoe is expected to sell 27 single family homes in February. · For North Lake Tahoe bank and short sales were 31% as a percentage of sales of single family homes.
Market Statistics
All data is from the Tahoe Sierra Multiple Listing Service (MLS). This information is deemed reliable but not guaranteed. |
|
John Williamson 530-412-1356
|
|
California Realtor® license 01490822 Nevada Realtor® license S0167613 |
|
Local communities with amenities As of January 31, 2012
Tahoe Donner still has a wider price range of homes for sale than other Truckee communities with amenities. |
|
The number of home sales in Tahoe Donner continues to be strong. Sales in the other communities with amenities continue to be almost non-existent. The reason is likely in the following chart “Median price for homes sold”. Tahoe Donner also has the best overall amenities! |
|
Truckee communities with fewer amenities As of January 31, 2012
The price range for communities with fewer amenities is shown in the chart below (Glenshire does have several tennis courts, a swimming pool, and a clubhouse). |
|
Resort and Second Home Property Specialist |
|
11500 Donner Pass Road Truckee, CA 96161 |
|
Accredited Buyer Representative |
