• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Lake Tahoe Real Estate - Tahoe Realtor
530-448-9882
  • Search
  • About
  • Sell
  • Buy
  • Explore
  • Journal
  • Contact
  • Home
  • Search
    • Search All Properties
    • Neighborhood Map
    • My Featured Listings
    • Register / Login
  • Explore Lake Tahoe
  • Sellers
    • Lake Tahoe Market Reports
    • Listing Videos
    • What’s My Home Worth
    • My Recent Sales
    • Client Testimonials
  • Buyers
    • Search the MLS
    • My Featured Listings
    • Tahoe Market Reports
    • Mortgage Calculator
  • Neighborhoods
    • All Tahoe Neighborhoods
    • Lake Tahoe North Shore
    • Lake Tahoe West Shore
    • Ski Resort Communities
    • Golf Communities
  • Tahoe Info
    • Tahoe Market Reports
    • Winterizing Your Home
    • Tahoe Resources and Info
      • Lake Tahoe Area Guide
      • Tahoe Relocation Guide
    • Tahoe School Guide
  • Journal
    • Tahoe Market Reports
    • Lake Tahoe Events
  • About
    • About Dave Westall
    • Westall Real Estate Team
    • My Recent Sales
    • Testimonials
  • Contact
    • Newsletter Signup
    • Contact
Home » Truckee Real Estate » Truckee Market Analysis as of 02/03/2010, Limited Inventory in Truckee

Truckee Market Analysis as of 02/03/2010, Limited Inventory in Truckee

February 3, 2010 by admin 1 Comment

>

When I look at the current Truckee real estate market the first thing I notice is that inventory levels are low, very low in specific neighborhoods and activity levels for well-priced properties are through the roof, creating competition in the market and leading to multiple offers on the best-priced homes.

If you were to look at the overall Truckee market you would see that in the last 12 months there have been 502 sales of single-family homes but currently, there are only 259 listings.  502 home sales represent an absorption rate of 41.8 homes per month and at that rate, the current inventory shows a 6-month housing supply!  This is great news for the market, finally, we have come to a point where inventory levels are in line with demand, actually inventory levels are lower than demand which could possibly lead us to a more stable market in 2010.

One of the most fascinating things that I found in my research was that the number of distressed home listings (Bank Owned/REO and Short Sales) is very low, the lowest in a long time.  In the last 12 months Truckee had 135 distressed home sales and today there are only 36 active distressed home listings that are amazing to me.  What this means for potential home buyers is that currently, you have fewer options for homes priced below the market due to the distressed sales.  135 distressed sales represent an absorption rate of 11.25 distressed sales per month, so if you apply that absorption rate to the current distressed inventory you will see that we only have a 3.2 month supply of distressed inventory.  This is great news for the market as it further shows that we are getting closer to housing recovery in Truckee!  I think that there will be more distressed listings over the winter and into the summer of 2010 but it appears that as time passes here in the Sierra we are pushing forward and possibly getting closer to recovery.  Only time will tell… 

Year over Year Analysis of Truckee Single Family Residences:
Average Price Down 13%, From $744K to $639K
Median Price Down 14%, From $600K to $521K
Number of Sales Up 22%, From 389 to 502
Days on Market Even, From 118 Days to 117 Days

List to Sold Discounts: Average = 6%  Median 5%

If you have any questions about my analysis or if you would like me to perform a specific analysis for your Truckee or Tahoe property I would be happy to help you out.  Please contact me today to discuss taking advantage of the current market or to discuss how my top-rated e-marketing system will help you sell your home more quickly and for top dollar.

Click Here to Search all Lake Tahoe and Truckee Listings

Best regards, Dave

David Westall, Realtor
DRE# 01796995
Tahoe Riverfront Realty, Inc.
Office: 530-583-3483 x7
David@WestallRealEstate.com
www.WestallRealEstate.com

Filed Under: Truckee Real Estate

Reader Interactions

Comments

  1. Claudia Lawrence says

    February 8, 2010 at 6:30 am

    >Hi, ur post is really informative, while reading ur blog I truly like & enjoy it. I just wanna suggest that u should go for blog advertising & marketing there is a site which is offering very unique features at affordable prices there are expert advertising team who will promote ur blog & affiliate ads through all over the networks which will definitely boost ur traffic. Finally I have bookmarked ur blog & also shared this blog to my friends.. i think my friend might too like it hope u have a wonderful day & !!happy blogging!!.

    Log in to Reply

Leave a Reply Cancel reply

You must be logged in to post a comment.

Join Our Network

Stay informed of the latest real estate news, trends and regional updates.

This field is for validation purposes and should be left unchanged.

Footer

Westall Real Estate logo
  • 530-448-9882
  • 950 N Lake Blvd Tahoe City, CA 96145
  • Email Us


who's who in luxury real estate logo
Sierra Sotheby's International Real Estate logo
realtor association logos
CA DRE 01796995   •   sitemap   •   admin   •   Accessibility   •   Privacy Policy   ©2023 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com
Cleantalk Pixel