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A Lake Tahoe and Truckee Real Estate Newsletter for my Clients and Friends |
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John Williamson 530-412-1356
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California Realtor® license 01490822 Nevada Realtor® license S0167613 |
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All content Copyrighted © John Williamson 2011. All rights reserved. Contact John Williamson and obtain written permission before using or reproducing any material contained on this site. |
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Lake Tahoe and Truckee Market Statistics and Analysis As of May 31, 2011
Market Summary and Analysis
Charts that support the below market analysis are shown directly after the analysis.
Low interest rates are keeping single family homes affordable. · The selection of homes is increasing now that homes are coming out of ski leases and winter use. · As of Wednesday, June 8, 2011, interest rates have fallen when compared to last month (for the below rates, conforming means the loans conform to Fannie Mae and Freddie Mac guidelines, who buy the loans on the secondary market): · 4.375% for the 30 year fixed conforming loans up to $417,000. · 3.50% for the 15 year fixed conforming loans up to $417,000. · 4.500% for the 30 year fixed super conforming loans up to $562,500. · 4.875% for the 30 year fixed Jumbo loans.
The number of single family homes sold in the last three months is well below the 2010 monthly average. · Tahoe Donner single family home sales for the last 3 months averaged 14 homes per month, down by 24% when compared to the monthly average for 2010. · For June 2011 an expected 24 single family homes will sell in Tahoe Donner (sold already in June or scheduled to close escrow), which is well above the 2010 monthly average of 19 homes sold/month. · The median price for single family homes sold in Tahoe Donner in the last 3 months is down 1% when compared to 2010. · For Truckee, single family home sales for the last 3 months averaged 38 homes per month, down by 3% when compared to the monthly average for 2010. For Truckee 55 single family homes are expected to sell in June. · For North Lake Tahoe stretching from Kings Beach to Rubicon Bay, single family home sales for the last 3 months averaged 18 homes per month, down by 15% when compared to the monthly average for 2010. North Lake Tahoe is expected to sell 28 single family homes in June. · Incline Village showed a 13% decline in the number of single family home sales for the last three months when compared to the 2010 average. Prices for single family homes sold at Incline Village are up 64% from 2010. At Incline Village there is a 21 month inventory of homes for sale (total homes for sale divided by the monthly average sold for the last 3 months). · Bank and short sales: · For Truckee over the last 3 months 40% of the single family homes sold were a bank sale or short sale. · For North Lake Tahoe over the last 3 months one out of every three single family homes sold was a bank sale or short sale. · For Incline Village over the last 3 months, one out of every five homes sold was a bank or short sale. · At Tahoe Donner over the last 3 months one out of every 4 homes sold was a bank sale or short sale. · A short sale is defined as a sold price that is less than owed the lender, so the lender will get less money than owed (shorted) if the lender agrees to the sale. On average only about 30% of the short sales actually close escrow.
Market Statistics
All data is from the Tahoe Sierra Multiple Listing Service (MLS) and the Incline Village Board of Realtors (MLS). This information is deemed reliable but not guaranteed. |
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Local communities with amenities As of May 31, 2011
Tahoe Donner still has a wider price range of homes for sale than other Truckee communities with amenities. |
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The number of home sales in Tahoe Donner has dropped off significantly. Sales in the other communities with amenities continue to be almost non-existent, except for Incline Village. The reason is likely in the following chart “Median price for homes sold”. Tahoe Donner also has the best overall amenities! |
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Truckee communities with fewer amenities As of May 31, 2011
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). |
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Resort and Second Home Property Specialist |
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11500 Donner Pass Road Truckee, CA 96161 |
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Accredited Buyer Representative |
