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Coldwell Banker

2017 Real Estate Market Report

North Lake Tahoe-Truckee

Residential Properties – Single Family Homes and Condominiums

2017 Year End Summary

Residential Sales Summary 2017

Total Residential Sales:  2017 was another great year for real estate sales in the North Lake Tahoe and Truckee region.  After a slow start because of the above average winter, sales caught fire in the latter half of the year. 

For 2017, a total of 1,564 residential properties sold as compared to 1,461 in calendar year 2016 which is a year over year increase in sales of 7%.  Of the total sales in the market this year, 1,160 were single family homes, while 404 or 25% of the sales were condominiums.  In 2016 there were 1,104 single family homes sold and 357 condominiums sold which represented 24% of the sales.

Coldwell Banker Ranked #1 Among All Brokerages: Coldwell Banker Residential Brokerage ended 2017 as the market leader in overall units sold with 749 sales sides closed with a total sales volume of $422 million.  This is the seventh year in a row where Coldwell Banker finished as the #1 real estate brokerage in the North Lake Tahoe and Truckee market.  

REO and Short Sales:  Distressed properties, REO’s and Short Sales, were non-existent in terms of sales in the market.  This trend has followed suit with California and nationally with the rebounding of the housing market.  For 2017, there were only 3 closed short sales as compared to 12 closed short sales in 2016 which is a (75%) reduction.  REO properties closed in 2017 went up 28% with 18 properties closed in 2017 as compared to 14 properties closed in 2016.  Overall, distressed property sales, (REO and Short Sales) represented 1.2% of the sales in 2017 which is slightly less than the 1.8% in 2016.

Median and Average Sales Prices:  The median sales price for residential properties ended the year at $603,000 which was up over 6% from 2016 where the median sales price was $565,000.  Similarly, for 2017, the average sales price went up over 2% to $887,322 as compared to last year’s average price of $866,537.

Sales by Price Range or Market Segment:  For the year, there were 517 residential properties sold at a price below $500,000, 725 properties sold between $500,000 and $1,000,000 and 322 properties sold over $1,000,000.

Sales Under $500,000:  The lower end of the market, homes priced under $500,000, as is typical, had the highest number of sales with 517 properties sold in this price range which represented 33% of total sales.  In 2016 for the same period, there were 604 properties sold in this price range which represented over 41% of the sales.

Mid-Range Market Sales $500,000 to $999,999:  For 2017, this segment of the market had a whopping 25% increase in sales from 2016 to 2017 and was a very active price point for the year.  There was a total of 725 properties sold at a price between $500,000 and $1,000,000 representing almost 47% of total sales.  For the same period in 2016, there were 577 properties sold in this price range which represented just over 39% of total sales.

Luxury Home Sales Over $1.0 Million: Luxury sales for properties priced above $1,000,000 had another solid increase in total sales of 15%.  For 2017, there were 322 luxury properties sold as compared to 280 sold in 2016.  The median sales price for luxury properties in 2017 ended at $1,500,000 as compared to a median sales price of $1,536,875 in 2016 which is an overall decrease of just under (3%).  The average sales price of luxury homes in 2017 ended at $2,188,848 as compared to $2,317,255 in 2016 which is an overall decrease of just over (5%).

Active Residential Inventory Summary:

Active Listings:  For 2017, residential inventory began the year with 500 properties listed for sale, reached the high point for the year in mid-August of 737 properties and ended the year with 370 properties for sale.  At year end, inventory for 2017 was roughly (28%) lower than the inventory level for the same period in 2016.  Coldwell Banker consistently was the leader in homes listed with an average 14% of the active listings in the market and continues to be the market leader for listings and sales.

2018 Opportunities Await: 2018 is projected to be another good year for real estate in California in terms of units sold and sales prices per the California Association of Realtors Market Forecast.  However, we will still be challenged with lower than historical inventory levels.  As we begin the year in the North Lake Tahoe and Truckee market, current inventory levels are starting out at lower than historical levels with 370 residential properties.  As is typically the case, inventory will rise significantly as Spring approaches.  With the current and future inventory of available homes coupled with still favorable interest rates, 2018 should be another good year for savvy real estate investors looking to acquire homes in many of the North Lake Tahoe and Truckee resort communities.

 

 

 

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Opening Day at Tahoe Donner Snowplay (Conditions Permitting)

12790 Northwoods Blvd -    December 8th, 2017

All for fun. Fun for all! Snowplay is your spot for tubing and sledding. Regular snowplay hours are Fridays from 1:30 - 4:30 p.m. and Saturdays and Sundays from 9:30 a.m.-4:30 p.m. For more information visit Tahoe Donner Events

 

Customer Appreciation Day

11603 Snowpeak Way, Truckee, CA 96161 - December 16th, 2017
Tahoe Donner Downhill Ski Resort appreciates loyal customers who continue 
to come year after year, so all day long everyone may ski for just $10.  Bring the whole family for a day packed full of fun. 
Tahoe Donner Downhill Ski Area 530-587-9444 - For more information visit Customer Appreciation - Tahoe Donner

 

Ski Snowboard

 

Squaw Valley/Alpine Meadows

Learn how to Ski or Snowboard for just $99!
Alpine Meadows - December 11th - December 15th

First time lesson package includes everything you need: 

  • Beginner Lift Ticket
  • Equipment Rental (skis, boots, poles - or - snowboard, boots) 
  • 2.25 beginner lesson 
  • For more information visit Learn to Ski for just $99!

 

santa

Santa's Holiday Schedule at Squaw Valley/Alpine Meadows
December 15th - December 25th, 2017

No Holiday Season is complete without joining Santa, his reindeer and trusty elves for some fun in the snow!
Whether you're joining Santa and his reindeer for a sleigh ride, brunch, or a performance of the "Twisted Nutcracker", the endless
events and activities are sure to keep the entire family entertained for the days leading up to Christmas. 
For more information and to view Santa's complete holiday schedule visit Christmas at Squaw

 

Snow Shoeing Small

Family Snowshoe Tours by Northstar Resort
Multiple Dates - Northstar Resort - Truckee
These 3 hour tours are open to all ages and are a great, unique and exciting way to explore.
This is a great activity the entire family will enjoy. 
For more information visit Northstar Calendar of Events

 

 

 

 

 

 

 

 

 

 

Coldwell Banker

2017 Real Estate Market Report

North Lake Tahoe-Truckee

                                                                                                                                                                                                                     

Residential Properties – Single Family Homes and Condominiums

December 1st to December 15th (Areas 1-9)

Residential Sales Summary 2017

Total Residential Sales:  Through December 15th of this year, residential sales are up over 6% from 2016 sales for the same period.  To date, there have been 1,505 residential properties sold in the market as compared to 1,417 sales in 2016.  Of the total sales in, the market this year, 1,119 have been single family homes, while 386 have been condominium sales.  Condominiums represent a little over 25% of total sales.  In 2016 for the same period, there were 1,078 single family homes sold and 339 condominium sales.  Condominiums represented over 23% of the sales in 2016.

December 1st to December 15th Sales:  For the first two weeks in December, there were 73 properties sold and closed in the market which is down slightly from the previous two-week period.  Of the 73 properties sold this period, eighteen (18) were sold at a price above $1.0 million.

Coldwell Banker Ranks #1:  Among all brokerages in the north Lake Tahoe and Truckee markets Coldwell Banker ranks #1 in units sold with 723 total sales with a total sales volume of $410 million.

REO & Short Sales:  Year to date, short sales and REO property sales represent a little over 1% of total sales with 18 closed REO property and 3 closed short sales for the year.  In 2016 for the same period, short sales and REO properties represented just under 2% of total sales with 14 closed REO properties and 12 closed short sales.

Median and Average Sales Prices:  The median sales price for residential properties through the middle of December was $604,000 which is up almost 7% as compared to the same period in 2016 where the median sales price was $565,000.  The average sales price is also up just over 1% to $886,925 in 2017 as compared to last year’s average price of $875,037 for the same period.

Sales by Price Range or Market Segment:  Year to date, there have been 497 residential properties sold at a price below $500,000; 700 properties sold between $500,000 and $1,000,000 and 308 properties sold over $1,000,000.

Sales Under $500,000:  The lower end of the market, homes priced under $500,000, has been responsible for 33% of the sales or 497 properties sold in 2017.  In 2016 for the same period, there were 586 properties sold in this price range which represented just over 41% of total sales.

Mid-Range Market Sales $500,000 to $999,999:  Mid-Range sales for 2017 are up over 26% from 2016 in this price range.   There have been 700 properties sold at a price between $500,000 and $1,000,000 representing over 46% of total sales.  For the same period in 2016, there were 554 properties sold in this price range which represented over 39% of total sales.

Luxury Home Sales Over $1.0 Million:  Luxury sales for properties priced above $1,000,000 are up over 11% from 2016 luxury sales.  For 2017, there have been 308 luxury properties sold as compared to 277 sold last year for the same period.  The median sales price for luxury properties through December 15th was $1,500,000 which is down almost (4%) from the median sales price of $1,560,000 in 2016.  The average sales price of luxury homes is at $2,194,747 as compared to $2,330,024 in 2016 which is down just under (6%).

Pending Sales: The pending sales for the period was 126 residential sales in the market which is down (20%) from the previous two-week period.

Active Residential Inventory Summary:

Active Listings:  The current inventory of residential properties through the middle of December was down (4%) from the previous two-week period.  There are currently 410 residential properties for sale; 268 single family homes and 142 condominiums for sale.  The current inventory for homes is at the lowest point for the entire 2017 year. 

Overall, active inventory is down almost (7%) from last year when there were 541 residential properties actively listed for sale.  There is roughly 3-months of available inventory on the market relative to the past 30-day sales volume.  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 no REO properties for sale, and only 2 properties listed as a short sale.

Christmas and New Year’s is Here:  With the Holiday season upon us, there remains strong Buyer interest as evidence by brisk sales over the last 60-90 days.  Inventory is very low and yet there is considerable interest in the market as many Buyers and savvy investors are actively looking for homes.

With continued favorable mortgage interest rates, real estate investors can take advantage of this market and acquire homes in many of the Lake Tahoe and Truckee resort communities.

 

 

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Just Listed Social Media

 

This 2 bed/2 bath, 1,388 square foot condo located in Tahoe Donner
is close to it all with amenities galore. 
During the summer, play 18 holes at the Tahoe Donner golf course
or cool off in one of the two community swimming pools or Donner Lake beach club marina.  
During the winter season, the downhill ski area is perfect for the entire family. 
Contact The Biebl Group to schedule your private tour or for more information!

 

 

 

 

 

 

The Biebl Group
John Biebl & Anna McGee
This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.
530-584-4258 Direct
www.TruckeeSales.com 


 

 

 

 

 

 

Coldwell Banker

2017 Real Estate Market Report

North Lake Tahoe-Truckee

                                                                                                                                                                                                                     

Residential Properties – Single Family Homes and Condominiums

Period: November 15th to November 30th (Areas 1-9)

Residential Sales Summary 2017

Total Residential Sales:  Through the first eleven months of this year, residential sales are up by almost 5% from 2016 sales for the same period.  To date, there have been 1,425 residential properties sold in the market as compared to 1,360 sales in 2016.  Of the total sales in, the marketthis year, 1,063 have been single family homes, while 362 have been condominium sales.  Condominiums represent a little over 25% of total sales.  In 2016 for the same period, there were 1,043 single family homes sold and 317 condominium sales.  Condominiums represented just over 23% of the sales in 2016.

November 16th to November 30th Sales:  For the last two weeks in November, there were 80 properties sold and closed in the market which is up slightly from the previous two-week period.  All in all, November was another strong month for sales in the market.  Of the 80 properties sold this period, nineteen (19) were sold at a price above $1.0 million.

Coldwell Banker Ranks #1:  Among all brokerages in the north Lake Tahoe and Truckee markets Coldwell Banker ranks #1 in units sold with 690 total sales and #1 in total sales volume of $413 million.

REO & Short Sales:  Year to date, short sales and REO property sales represent a little over 1% of total sales with 18 closed REO property and 3 closed short sales for the year.  In 2016 for the same period, short sales and REO properties represented just under 2% of total sales with 13 closed REO properties and 12 closed short sales.

Median and Average Sales Prices:  The median sales price for residential properties through the end of November was $603,000 which is up over 6% as compared to the same period in 2016 where the median sales price was $565,000.  The average sales price is down just under (1%) to $879,069 in 2017 as compared to last year’s average price of $883,825 for the same period.

Sales by Price Range or Market Segment:  Year to date, there have been 475 residential properties sold at a price below $500,000; 662 properties sold between $500,000 and $1,000,000 and 288 properties sold over $1,000,000.

Sales Under $500,000:  The lower end of the market, homes priced under $500,000, has been responsible for 33% of the sales or 475 properties sold in 2017.  In 2016 for the same period, there were 558 properties sold in this price range which represented 41% of total sales.

Mid-Range Market Sales $500,000 to $999,999:  Mid-Range sales for 2017 are up over 25% from 2016 in this price range.   There have been 662 properties sold at a price between $500,000 and $1,000,000 representing over 46% of total sales.  For the same period in 2016, there were 528 properties sold in this price range which represented over 38% of total sales.

Luxury Home Sales Over $1.0 Million:  Luxury sales for properties priced above $1,000,000 are up over 5% from 2016 luxury sales.  For 2017, there have been 288 luxury properties sold as compared to 274 sold last year for the same period.  The median sales price for luxury properties through the end of November was $1,500,000 which is down almost (4%) from the median sales price of $1,554,375 in 2016.  The average sales price of luxury homes year to date stands at $2,186,040 as compared to $2,319,715 in 2016 and is down just under (6%).

Pending Sales: The pending sales at the end of November was 158 residential sales in the marketwhich is down 17% from the previous two-week period.

Active Residential Inventory Summary:

Active Listings:  The current inventory of residential properties at the end of November was down a little over (7%) from the middle of November.  There are currently 428 residential properties for sale; 293 single family homes and 135 condominiums for sale.  The current inventory for homes is at the lowest point for the entire 2017 year. 

Overall, active inventory is down almost (7%) from last year when there were 541 residential properties actively listed for sale.  There is roughly 3-months of available inventory on the marketrelative to the past 30-day sales volume.  Coldwell Banker has over 13% of the active listings in themarket and continues to be the market leader for listings.  Of the active listings, there are no REO properties for sale, and only 2 properties listed as a short sale.

WINTER IS HERE – ACT NOW:  With Winter upon us, there remains strong Buyer interest as evidence by brisk sales over the last 60-90 days.  Inventory is very low and yet there is considerable interest in the market as many Buyers and savvy investors are actively looking for homes.

With continued favorable mortgage interest rates, real estate investors can take advantage of thismarket and acquire homes in many of the Lake Tahoe and Truckee resort communities.

 

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