First quarter, 2011 Truckee real estate sales showed a BIG 11% increase as compared to same quarter, 2010. A total of 124 single family homes sold with the median price 14% lower than the same period in 2010. Interestingly, the average price of a home sale in Truckee decreased from $624,015 to $504,337 – a substantial 19%. The median sales price of a single family home in Truckee decreased 14% from $510,000 to $439,000.
In the luxury real estate market, we experienced a 20% increase in homes sold under $1MM and a 67% decrease for homes sold over $1MM. Why? The value of $1MM+ home sales has decreased substantially over the last three years. Home buyers can now secure a lovely home that is under the $1MM mark.
Clearly, now is the time to buy your Truckee-Tahoe vacation retreat, second home or simply, move on up to the mountains as pricing appears to have stabilized. In several recent Q2, 2011 sales, I am seeing an uptick in square footage prices. Please feel free to call or email me for further information and discuss the neighborhood you are interested in following. For more statistical information, click here for Elder Group Tahoe/Chase International Q1 Truckee Sales Statistics.
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