Archive for the ‘Squaw Valley’ Tag
Coldwell Banker
2014 Real Estate Market Report
North Lake Tahoe-Truckee Region
Residential Properties – Single Family Homes and Condominiums
Period: August 1st to August 15th
Residential Sales Summary 2014
Total Sales: On a year to date basis through August 15th there have been 683residential properties sold in the market. For the same period in 2013, there were 790 residential properties sold which is a year over year decrease in sales of (14%). Of the total sales in the market this year, 504 have been single family homes, while 179 were condominiums. Condominiums represent 26% of total sales. In 2013 for the same period, there were 616 single family homes sold and 174 condominiums. Condominiums represented 28% of the sales in 2013.
August 1st to August 15th Sales: For the first two weeks of August there were 59 properties sold which was up 16% from the precious two weeks sales. For the same period in 2013, there were 63 properties sold. Of the 51 properties sold this period, twelve (12) were sold at a price above $1.0 million.
Coldwell Banker Ranks #1: Among all brokerages in the north Lake Tahoe market, Coldwell Banker ranks #1 on a year to date basis in both total units sold, 363 and total sales volume, $199 million.
REO & Short Sales: For 2014 thus far, short sale properties closed have gone down (57%) with 31 closed short sales as compared to 72 closed short sales in 2013. Similarly, REO properties closed in 2014 have gone down (49%) with 21 properties closed in 2014 as compared to 41 REO sales in 2013. Overall, distressed property sales, (REO and Short Sales) represents only 7% of the sales in 2014 which is significantly less than the 14% in 2013.
Median and Average Sales Prices: The median sales price for residential properties through August 15th was $515,000 which is up 11% from 2013 where the median sales price was $465,000 for the same period. The average sales price has gone up 30% to $842,675 as compared to last year’s average price of $646,586 for the same period.
Sales by Price Range or Market Segment: For the year, there have been 327 residential properties sold at a price below $500,000, 235 properties sold between $500,000 and $1,000,000 and 121 properties sold over $1,000,000.
Sales Under $500,000 Sales: The segment of the market with the highest level of sales activity are homes priced under $500,000 as over 47% of the sales or 327 properties have sold in this price range. In 2013 for the same period, there were 439 properties sold in this price range which represented 55% of the sales.
Luxury Home Sales Over $1.0 Million: Luxury sales for properties priced above $1,000,000 have gone up 23% from last year. For 2014, there have been 121 luxury properties sold as compared to 98 properties sold last year for the same period. The median sales price for luxury properties in 2014 thus far is $1,837,500 as compared to a median price of $1,700,000 in 2013 which is up 8%. The average sales price of luxury homes in 2014 is $2,501,391 as compared to $1,998,225 in 2013 which is up 25%.
Mid-Range Market Sales: There have been 235 properties sold at a price between $500,000 and $1,000,000 representing 34% of total sales. For the same period in 2013, there were 253 properties sold in this price range which represented 32% of total sales.
Pending Sales: The pending sales through August 15th were at 187 residential sales in the market which is up nicely from the 180 pending sales from the last report.
Active Residential Inventory Summary:
Active Listings: The current inventory of residential properties has gone up almost 2% from the last report. There are currently 877 residential properties for sale; 648 single family homes and 229 condominiums for sale. For the same period in 2013, the active inventory was at 815 residential properties which is a 7% increase in inventory from last year to this year. Coldwell Banker has over 15% of the active listings in the market and continues to be the market leader for listings. Of the active listings, there are only 6 properties listed as a short sale, and 2 properties listed as an REO sale.
NOW MAY BE A GREAT TIME TO BUY: With inventory levels at the high point for the year there are many quality properties to choose from throughout the north Lake Tahoe and Truckee areas. While homes prices have come up, they are still priced at levels we have not seen since 2008. With continued favorable mortgage interest rates, savvy real estate investors are taking advantage of this market and acquiring homes in many of the Lake Tahoe and Truckee resort communities.
Share this: Lynn Richardson, Your Friend in High Places
Seeing as winter is a longer and much more severe season here in the mountains, we’ve done several posts on the ‘To Do’ Checklists to get you winter ready.
But today, I ran across this GREAT article on Houzz on items you should be doing while the weather is nice. Summer’s here are glorious, but brief. There are just some things that need to be done when the weather is warm.
From both a maintenance and real estate standpoint, a few of the suggested House Maintenance Items really rung especially true for our neck of the woods, which I’ll elaborate about here on the blog, but for the rest of the Houzz suggestions, go here:
Click on photo to go to the Houzz website for more summer ideas
1) Paint your house! Whether you’re intending to list your home, or are already living in it, if the exterior is starting to look a little weather worn, a fresh coat of paint or stain not only will give your exterior a freshening up that ads curb appeal, but will also protect the materials from drying out and falling apart. An ounce of prevention and all…
2) Check your foundation. It’s near impossible to do this when there is 6 feet of snow covering it, unless you really just get off on doing some extra shoveling. Do it now while it’s easy to see. Given our vast freeze/thaw temperature issues, nipping this one in the bud and fixing it now can save you a world of heartache and expense later. Open vents to allow air circulation.
3) Clean the gutters. Reattach broken ones that may have pulled away from the house. And check into other options to keep them that way. Houzz had some good suggestions.
4) Change the direction of your ceiling fans. Not all fans have this feature, most people don’t even know about it when they do. In winter you want the fan to push warm air down, but in the summer, you want the fan to pull warm air up. This is a must have feature if you’re currently thinking about adding ceiling fans to your home. We don’t usually need to install air conditioners here, as ceiling fans do a good job of circulating air and controlling indoor temperatures in our cooler summer climate.
5) Install new screens or replace broken screens on windows and doors. If you can create some cross ventilation, screens allow Mother Nature to move the air for you without letting all the bugs in. One caveat though. In bear country, never leave open doors and windows while you’re out unless you want to come home to a fury beast in your pantry, or a demolished one thereof. They laugh in the face of screens as a deterrent for entrance, especially if they smell something tasty. Bear-1, Screen-0.
6) Resurface your driveway. Winter is not only hard on our roads. Snowplows and ice tend to disintegrate your driveways and walkways as well. Think about a fresh coat before next winter.
7) Clean out the garage. Admit it! We ALL just hate doing this! Trudging through the detritus of belongings that just seems to get thrown in the garage in a haphazard heap is no fun for anyone. But summer is the time to get this area organized! Put all tools back where they belong. If you don’t have a dedicated tool chest or bench, consider installing one. Invest in metal shelving to store paints and solvents, holiday decorations, winter and summer gear, garden tools and any other items that accumulate in the garage. Throw out broken items you have no intention of ever fixing or have a garage sale and/or donate anything you will never use again. Pat yourself on the back when you’re finally able to actually park the car in the garage again!
How about you? Do you have any tips for summer to do lists or summer must haves? Let us know in the Comments section. And we’ll keep you posted on all the fun happenings at Lake Tahoe, Truckee and the surrounding area.
Coming up next: Your Summer Checklist, Part 2: Fun in the Sun. Getting all of your summer gear ready and fun things to do, places to go, events to see in Tahoe, Truckee and the surrounding areas.
Share this: Lynn Richardson, Your Friend in High Places
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Happy Memorial Day everyone. The holiday weekend is usually a sneak preview of our upcoming season. While summers here can be brief, they are in a word: spectacular. If you have never truly spent any time in our fine area, this weekend might just be the time to come up and see all that the area has to offer.
In getting ready for this busy season, I’ve updated the *About page so that you know a little bit more about me personally. I’ve also added a new page *Homes for Sale. While the blog is mostly about enthralling you with the Tahoe Truckee lifestyle and all that we have to offer, the *Homes for Sale page are my listings of current properties for sale and some pending or sold properties. While this by no means is the full breadth of the properties I am selling or have sold, they are a compilation of the most recent. I’ll be updating the page as new properties become available and others are sold.
More information and photos on all of these properties can be seen on my website. Links are listed under each property on the blog.
Here are the direct links to the new and updated pages (or you can just click on the menu tabs above)
https://yourfriendinhighplaces.wordpress.com/about/
https://yourfriendinhighplaces.wordpress.com/homes-for-sale/
So enough about business. There are a few fun things to do this weekend.
May 24 & 25, 11:00am – 7:00pm – Made In Tahoe Festival, Squaw Valley
Join us in celebrating our local arts, culture and music. The festival includes a vendor village, community stage and sidewalk sales. For more info: http://squaw.com/things-to-do/events-calendar/made-tahoe-festival
Sunnyside Celebrates 27 Years
Here’s to another ring on the tree – Sunnyside is turning 27! Celebrate the official start of the Tahoe summer at the Sunnyside Deck Opening and 27th Anniversary Party on Friday, May 23, 2014.
Mountain Grill Opens at 11:30am | Live music from 3 – 9pm. For more info:
http://www.sunnysidetahoe.com/events
Opening Day at the Lake –
Memorial Day Weekend is always considered the official opening of Lake Tahoe’s Summer Events Season. State and Federal Parks gear up for the season, Restaurants open up their patios and folks start opening up their summer cabins and getting their boats in the water. For more info on what’s happening in the area, go to this link:
Calendar of events
So come up and see us this weekend. The Lake is calling…
Share this: Lynn Richardson, Your Friend in High Places
YOUR FRIEND IN HIGH PLACES 