Archive for the ‘Winter at Lake Tahoe’ Tag

Tahoe and Truckee Real Estate Market Update 2014   Leave a comment

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Sunny day skiing at Lake Tahoe

North Lake Tahoe-Truckee Region

 Residential Properties – Single Family Homes and Condominiums

Period:  February 16th to February 28th

Residential Sales Summary 2014

Total Sales:  Through the end of February there have been 142 residential properties sold in the market.  For the same period in 2013, there were 152 residential properties sold which is a year over year decrease in sales of almost (7%).  Of the total sales in the market this year, 104 were single family homes, while 38 or 27% of the sales were condominiums.  In 2013 there were 111 single family homes sold and 41 condominiums sold for the same period which represented 37% of the sales.  Coldwell Banker ranks as the market leader year-to-date in both total units sold, 50 and total sales volume, $29 million.

REO & Short Sales:  For 2014 thus far, short sale properties closed have gone down (74%) with 7 closed short sales in 2014 as compared to 27 closed short sales in 2013.  REO properties closed in 2014 have gone up 9% with 12 properties closed in 2014 as compared to 11 properties closed in 2013.  Overall, distressed property sales, (REO and Short Sales) represent 13% of the sales in 2014 which is significantly less than the 25% in 2013.

Median and Average Sales Prices:  The median sales price for residential properties for 2014 stands at $561,250 which is up 51% from 2013 where the median sales price was $370,000 for the same period.  The average sales price has gone up 6% to $774,428 as compared to last year’s average price of $728,032 for the same period.

Sales by Price Range or Market Segment:  For the year, there have been 66 residential properties sold at a price below $500,000, 48 properties sold between $500,000 and $1,000,000 and 28 properties sold over $1,000,000.

The segment of the market with the highest level of sales activity are homes priced under $500,000 as over 46% of the sales or 66 properties have sold in this price range.  In 2013 for the same period, there were 99 properties sold in this price range which represented 65% of the sales.

Luxury home sales, homes priced above $1,000,000 have gone up 40% from 2013 which is the largest growing segment of the market for the year on a percentage basis.  There have been 28 luxury properties sold in 2014 as compared to 20 properties sold last year for the same period.  The median sales price for luxury properties in 2014 thus far is $1,667,500 as compared to a median price of $1,813,000 in 2013 which is down (7%).  The average sales price of luxury homes in 2014 is $1,902,839 as compared to $2,916,925 in 2013 which is down (34%).

The mid-range market sales, $500,000 to $1,000,000 are up 45% from last year with 48 properties sold in this segment or 34% of sales as compared to 33 properties sold or 21% of sale in this range in 2013.

Pending Sales:  The pending sales through the end of February 15th stood at 132 pending residential sales in the market which is up slightly from the last report where we had 125 pending sales.

Active Residential Inventory Summary:

Active Listings:  The current inventory of residential properties stands at 611 properties for sale; 428 single family homes and 183 condominiums for sale.  From the last report on February 15th, inventory rose 2% which is great for this time of year.  For the same period in 2013, the active inventory was at 510 residential properties which is a 20% increase in inventory from last year to this year.  Coldwell Banker has over 13% of the active listings in the market and continues to be the market leader for listings.  Of the active listings, there are only 2 properties listed as short sales, and only 2 properties listed as an REO sale.

 

THERE ARE STILL GREAT BUYING OPPORTUNTIES:  With current inventory levels there remain many quality properties to choose from throughout the north Lake Tahoe and Truckee area.  When you compound the inventory available with homes priced at 10-year lows and favorable 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.

                                                          Think of me, Lynn Richardson, for all of your Truckee/Tahoe real estate needs

Move in, and leave most of your money at home!   Leave a comment

Snowpeak Condo at Tahoe Donner

Snowpeak Condo at Tahoe Donner

  11589 Snowpeak Way, Tahoe Donner – $73,900

There are many alternatives available when you are thinking of finding a place in the Sierra to make your own. A wide range of large and spectacularly beautiful homes are on the market. But what if you just want a charming little place that will meet your needs, but at an incredibly low price? And by needs, we are not only talking about a place to live, but a place where you can golf, cross-country ski, downhill ski, play tennis, go sledding, work out in a recreational center, hit the trails for hiking and biking, and go for a swim in a pool or out from a sandy beach into Donner Lake? For you, this might be that place.

Studio unit with one bath

By the way, that price of $73,900 is not a typo. You really can get your own place to stay in Tahoe Donner for that price. In fact, you get a remodeled studio unit right at the base of the Tahoe Donner Downhill Ski Area, and just a short distance from the Tahoe Donner Cross-Country Ski Area,  one of the best cross-country ski resorts in the United States. And if skiing is your gig, this place even comes with it’s own ski tuning room and personal lockers.

Nicely remodeled

Access is quick and easy into this first level unit, where you will find upgrades such as new kitchen cabinets, Silestone counters, slate floors,  and a new tile shower in the bathroom. After sleeping, the charming Amish Style Murphy Bed, lifts up to become a wall decoration, creating more space in the living area.

Cozy lobby

If you’ve always wanted your place in the pines with a great amenity package, but were not interested in shelling out the big bucks, this is your place. Enjoy.

Your Tahoe-Truckee Top Five for 2014.   Leave a comment

Yes, it’s that time of year again. When we take stock of 2013, and make plans for the steps we want to take in 2014. Let’s not call them resolutions, because we know those usually don’t work. What if instead, we just look at doing a few things in 2014 that will make us feel good, while maybe doing good for the community as well:

1) Find a local organization to support: While giving is an important part of what makes the winter holidays special, how about continuing that spirit of giving all year round? In fact the organizations that do good around these parts probably need our help even more once the soft glow of Christmas giving has flittered away. Whether it’s a financial donation or a gift of your time, it will be greatly appreciated and will brighten up the lives of those in need.  Hands on Tahoe is a wonderful organization that connects volunteers to the community.

Community Christmas Food Drive

Community Christmas Food Drive

2) Try a new sport: Have you paddleboarded, kayaked, road biked, cross-country skied or snowshoed? Or thought about trying something a little more daring like snow kiting or rock climbing? The Sierra is loaded with different ways to enjoy what nature has given us, and there are lots of folks who can rent you the equipment and teach you how to do your new sport right. Who knows, perhaps it will become your new favorite.

Hiking in January above Donner Lake

Hiking in January above Donner Lake

3) Find a new trail: If you’ve hiked or biked much of the Tahoe Rim Trail or the Donner Lake Rim Trail, how about finding a new and different trail to explore. There is nothing quite as cool as that first time on a lovely ribbon of single track.

4) Seek out a new business. There are many small businesses that show off the work of local artists, or put out a delicious cup of joe. Go out there and experience something new. In the process you will help a few Tahoe/Truckee folks bring in some money, which they will then turn around and spend to support other businesses and our little towns.

5) Still want to make a resolution to lose ten pounds? What if instead you call it a “get outside every day and do something active in our beautiful place” resolution? It’s amazing how being outside in the wilderness where there are no refrigerators just makes the pounds drop off.

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Have a very Happy New Year, and go have some fun!

YOUR FRIEND IN HIGH PLACES

Lynn Richardson . Coldwell Banker Real Estate . Lake Tahoe & Truckee

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