The Market
Monitor
March 8, 2010
Re:
Dear Client;
Market Overview
The market continues to be very active as buyers are finding the prices to their liking. Additional loan rates are very attractive. The ski resort subdivisions have been very active as one would expect at this time of year. The low end of the market is almost a frenzy. Great deals in subdivisions like Lahontan and Grays Crossing. I am sure we will be looking back and remembering this great buying opportunity.
Tahoe Donner
Home sales remain very strong in Tahoe Donner and inventory is exceptionally low. Now is a great opportunity to sell.
Lahontan/Martis Camp/Timilick
There was 1 home sale in Lahontan and prices in this subdivision are very attractive.
Old Greenwood/Grays
Crossing
Grays Crossing home prices have fallen to dramatically low levels with foreclosures working their way through the system. There were 2 home sales in February.
Northstar
Northstar continues to be on a roll with 5 Village Condos and 3 homes selling.
Glenshire/Sierra Meadows/Prosser/Donner
There were 29 sales in these subdivisions. The interesting points is that 21 were short sales, meaning the loan amount is greater than the sales price and requires bank approval and the median sales price was $310,000. The low end of the market is at very affordable levels and is being consumed.
When the prices get to the right level the sales take off. There were 16 sales in Squaw after a very slow winter. There were a number of short sales in the Resort at Squaw Creek as the developer lowered his prices to move the remaining inventory. There was 1 sale in Alpine.
If you would like more detailed information or specific information related to your property, please do not hesitate to call.
If you know anyone that we can assist to become an owner in
our beautiful area and be one of your neighbors, please let us know. If there
is anything we can do to help you with your business, we would like to know.
Thank you for your support and referrals.
Sincerely,
Bob and Nancy
The
Keller Williams Boice Realty
530-550-5175
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New Escrows for
February 2010 |
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73-91 Homes |
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92 - 2008 Homes |
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New Homes |
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Condos |
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99-224 |
0 |
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0 |
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0 |
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0 |
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225-249 |
0 |
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0 |
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0 |
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1 |
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250-274 |
0 |
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0 |
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0 |
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1 |
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275-299 |
1 |
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0 |
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0 |
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1 |
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300-324 |
0 |
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0 |
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0 |
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0 |
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325-349 |
0 |
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0 |
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0 |
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1 |
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350-399 |
3 |
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1 |
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0 |
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0 |
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400-499 |
2 |
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2 |
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0 |
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1 |
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500-599 |
0 |
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1 |
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0 |
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0 |
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600-699 |
1 |
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5 |
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1 |
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0 |
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700-799 |
0 |
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3 |
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0 |
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0 |
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800-899 |
0 |
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1 |
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0 |
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0 |
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900-999 |
0 |
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0 |
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0 |
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0 |
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1,000,000 Plus |
0 |
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0 |
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0 |
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0 |
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Total Sales |
7 |
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13 |
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1 |
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5 |
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% of Total Sales |
26.92% |
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50.00% |
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3.85% |
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19.23% |
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Current Listings |
27 |
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50 |
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3 |
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22 |
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% of Total Listings |
26.47% |
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49.02% |
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2.94% |
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21.57% |
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Price |
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0 - 100 |
0 |
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101 - 150 |
1 |
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151 - 200 |
1 |
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201-250 |
1 |
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251-350 |
0 |
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351-400 |
0 |
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401-550 |
0 |
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Total |
3 |
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Yearly Tahoe Donner
Home Sales |
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JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
Total |
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2007 |
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Inventory |
134 |
131 |
133 |
160 |
197 |
217 |
227 |
228 |
211 |
169 |
153 |
149 |
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Sold |
14 |
21 |
19 |
24 |
15 |
17 |
12 |
8 |
20 |
27 |
20 |
12 |
209 |
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New List |
48 |
28 |
37 |
69 |
64 |
49 |
47 |
42 |
32 |
38 |
20 |
30 |
504 |
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Escrows* |
20 |
18 |
17 |
14 |
13 |
11 |
10 |
27 |
17 |
22 |
13 |
4 |
186 |
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Sales/List |
42% |
64% |
46% |
20% |
20% |
22% |
21% |
64% |
53% |
58% |
65% |
13% |
37% |
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2008 |
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Inventory |
152 |
159 |
167 |
161 |
197 |
212 |
228 |
204 |
178 |
178 |
152 |
147 |
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Sold |
9 |
13 |
17 |
18 |
13 |
22 |
19 |
24 |
22 |
30 |
11 |
13 |
211 |
|
New List |
37 |
38 |
41 |
34 |
71 |
44 |
58 |
45 |
40 |
32 |
29 |
18 |
487 |
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Escrows* |
18 |
19 |
13 |
15 |
18 |
14 |
19 |
22 |
28 |
12 |
10 |
10 |
198 |
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Sales/List |
49% |
50% |
32% |
44% |
25% |
32% |
33% |
49% |
70% |
38% |
34% |
56% |
41% |
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2009 |
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Inventory |
147 |
156 |
158 |
168 |
173 |
186 |
197 |
200 |
181 |
160 |
115 |
112 |
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Sold |
9 |
16 |
15 |
19 |
16 |
18 |
26 |
21 |
29 |
35 |
20 |
37 |
261 |
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New List |
34 |
31 |
36 |
44 |
55 |
50 |
46 |
53 |
41 |
29 |
16 |
17 |
452 |
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Escrows |
21 |
16 |
17 |
25 |
26 |
30 |
20 |
29 |
41 |
33 |
45 |
25 |
328 |
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Sales/List |
62% |
52% |
47% |
57% |
47% |
60% |
43% |
55% |
100% |
114% |
281% |
147% |
73% |
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2010 |
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Inventory |
96 |
102 |
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Sold |
13 |
13 |
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26 |
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New List |
20 |
26 |
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46 |
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Escrows |
26 |
26 |
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52 |
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Sales/List |
130% |
100% |
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113% |
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Average Price |
Median Price |
Highest |
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Lowest |
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Average Days on Market |
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2007 |
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Existing Homes |
$697,197 |
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$650,000 |
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$2,465,000 |
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$220,000 |
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103 |
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New Homes |
$999,500 |
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$795,000 |
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$1,900,000 |
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$508,000 |
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181 |
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2008 |
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Existing Homes |
$651,755 |
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$615,000 |
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$1,450,000 |
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$195,000 |
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99 |
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New Homes |
$1,134,067 |
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$1,185,750 |
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$1,850,000 |
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$508,000 |
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190 |
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2009 |
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Existing Homes |
$563,020 |
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$525,000 |
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$1,599,900 |
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$99,900 |
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106 |
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New Homes |
$738,118 |
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$700,000 |
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$1,275,000 |
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$350,000 |
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239 |
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2010 |
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Existing Homes |
$450,382 |
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$445,000 |
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$985,000 |
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$161,000 |
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98 |
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New Homes |
$676,333 |
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$699,000 |
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$1,275,000 |
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$465,000 |
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67 |
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Land Sales |
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2007 |
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Inventory |
46 |
49 |
55 |
61 |
65 |
72 |
73 |
76 |
73 |
64 |
54 |
45 |
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Sold |
1 |
1 |
2 |
6 |
1 |
5 |
1 |
3 |
2 |
1 |
0 |
0 |
23 |
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New List |
6 |
14 |
13 |
15 |
21 |
10 |
8 |
11 |
3 |
6 |
4 |
4 |
115 |
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Escrows |
3 |
1 |
5 |
1 |
3 |
0 |
3 |
2 |
1 |
0 |
0 |
2 |
21 |
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Sales/List |
50% |
7% |
38% |
7% |
14% |
0% |
38% |
18% |
33% |
0% |
0% |
50% |
18% |
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2008 |
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Inventory |
37 |
34 |
38 |
47 |
57 |
64 |
71 |
72 |
71 |
69 |
58 |
48 |
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Sold |
3 |
1 |
1 |
1 |
1 |
1 |
0 |
4 |
1 |
0 |
3 |
1 |
17 |
|
New List |
5 |
3 |
9 |
12 |
10 |
15 |
11 |
6 |
4 |
9 |
5 |
5 |
94 |
|
Escrows |
1 |
2 |
2 |
1 |
1 |
0 |
2 |
0 |
0 |
2 |
1 |
1 |
13 |
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Sales/List |
20% |
67% |
22% |
8% |
10% |
0% |
18% |
0% |
0% |
22% |
20% |
20% |
14% |
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2009 |
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Inventory |
49 |
56 |
62 |
59 |
60 |
61 |
59 |
49 |
49 |
42 |
37 |
32 |
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Sold |
1 |
1 |
1 |
0 |
1 |
1 |
1 |
1 |
1 |
2 |
2 |
0 |
12 |
|
New List |
4 |
7 |
10 |
3 |
7 |
7 |
5 |
3 |
4 |
4 |
2 |
18 |
74 |
|
Escrows |
2 |
0 |
0 |
1 |
0 |
1 |
2 |
1 |
0 |
2 |
0 |
2 |
11 |
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Sales/List |
50% |
0% |
0% |
33% |
0% |
14% |
40% |
33% |
0% |
50% |
0% |
11% |
15% |
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2010 |
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Inventory |
36 |
36 |
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Sold |
1 |
1 |
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2 |
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New List |
7 |
4 |
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11 |
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Escrows |
1 |
3 |
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4 |
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Sales/List |
14% |
75% |
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36% |
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Average and Median |
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Average Price |
Median Price |
Highest Price |
Lowest Price |
Average Days on Market |
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2007 |
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$282,802 |
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$285,000 |
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$399,000 |
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$160,000 |
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119 |
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2008 |
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$260,234 |
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$250,000 |
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$390,000 |
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$130,000 |
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126 |
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2009 |
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$144,417 |
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$148,750 |
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$400,000 |
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$7,500 |
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77 |
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2010 |
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$87,000 |
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$87,000 |
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$117,500 |
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$56,500 |
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258 |
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NOTE: Figures shown are from |
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Inventory |
>Existing Inventory |
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Sold |
>Closed Escrows which
represent a sale |
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representation is based in
whole or in part on data |
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30 to 90 days earlier |
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supplied by the Tahoe Sierra
Board of REALTORS, |
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New List |
>New listings that came
on the market that month |
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Inc. or its MLS. Neither the Board nor its Multiple |
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Escrows |
>Escrows that opened that
month ( *includes condos) |
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Listing Service guarantees
or is in any way |
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Existing Homes |
>Homes that are at least
two years old |
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responsible for its accuracy.
Data maintained |
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New Homes |
>Homes built in current
year and previous year |
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by the Board or its MLS may
not reflect all real |
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Days on Market |
>Time from initial
listing to opening of escrow |
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estate activity in the market. |
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>Homes built in current
year and previous year |
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>Time from initial
listing to opening of escrow |
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Homes |
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>Includes homes and
condos |
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