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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 October 31, 2011
Market Summary and Analysis
Charts that support the below market analysis are shown directly after the analysis.
Low interest rates are still available making owning a home affordable. · As of Friday, November 4, 2011, interest rates have remained very low. For information purposes only, the below rates are listed as they were listed on the internet for that day. · 4.250% for the 30 year fixed conforming loans up to $417,000. · 3.375% for the 15 year fixed conforming loans up to $417,000. · 4.375% for the 30 year fixed super conforming loans up to $562,500. · 4.625% for the 30 year fixed Jumbo loans.
Below is a real estate market summary for Tahoe Donner, Truckee, and North Lake Tahoe: · Local contractors state it is 30% less expensive to buy an existing home than to buy the lot and build the same home. · Tahoe Donner has 6 months of unsold active inventory, which is considered a neutral market (equal advantage for Buyer and Seller). Months of inventory is the number of active homes divided by the average monthly home sales for the last 3 months. Stated another way, if no additional homes came on the market it would take 6 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 22 homes per month, up by 17% when compared to the monthly average for 2010 of 19 homes sold/month. · For November 2011 an expected 19 single family homes will sell in Tahoe Donner (sold already November or scheduled to close escrow), which is equal to the 2010 monthly average. · The median price for single family homes sold in Tahoe Donner in the last 3 months is down 2% when compared to 2010. · Truckee has 6 months of unsold active inventory, which is considered a neutral market (equal advantage for Buyer and Seller). · For Truckee, single family home sales for the last 3 months averaged 52 homes per month, up by 35% when compared to the monthly average for 2010. For Truckee 55 single family homes are expected to sell in November. · North Lake Tahoe stretching from Kings Beach to Rubicon Bay has 14 months of unsold active inventory, which is considered a Buyers market (there are more homes for sale than available Buyers). · For North Lake Tahoe , single family home sales for the last 3 months averaged 24 homes per month, up by 15% when compared to the monthly average for 2010. North Lake Tahoe is expected to sell 24 single family homes in November. · Bank and short sales: · For Truckee over the last 3 months close to one out of five single family homes sold was a bank sale or short sale. · For North Lake Tahoe over the last 3 months close to one out of six single family homes sold was a bank sale or short sale. · At Tahoe Donner over the last 3 months less than one out of twenty 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.
Market Statistics
All data is from the Tahoe Sierra Multiple Listing Service (MLS). This information is deemed reliable but not guaranteed. |
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Local communities with amenities As of October 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 continues to be strong compared to other communities. 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! |
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Truckee communities with fewer amenities As of October 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 |
