Truckee:
Buyers aren’t waiting any longer! The Truckee market is off to a fantastic start this year with sales volume for single family homes up 32 % as compared to Q1, 2012. Median prices increased 23% to $492,000, compared to last year’s $410,250. Truckee experienced a 31% increase in average prices, $667,666 compared to last year’s $510,883. The market has indeed changed and will continue to do so with incremental price increases as long as interest rates remain low.
The condo market experienced a significant 120% increase in sales volume over Q1, 2012 with HUGE comparative sales volume of $28,317,686 versus $12,881,000. The median condo price increased by 7% from $305,000 to $325,000 with the average price increasing a BIG 34% from $415,516 to $555,248.
Tightening inventory, reduced bank owned and short sale inventory, exploding Bay Area home sales, relatively stable interest rates and a fluctuating stock market adds to the interesting times of Truckee area real estate. Whether you are considering selling your Truckee home or buying your dream house, the market has created its new cycle.
Selling nearly $70,000,000 in Truckee area real estate since 2011, Alison knows the market. Contact Alison at530.582.8103 or info@eldergrouptahoe.com for more information.
Tahoe Donner:
The Tahoe Donner market shows interesting trends with sales volume 12% LOWER than Q1 2012, yet an increase in median prices by 13% (from $442,000 to $499,900). Average prices increased 6%, from $495,276 to $525,683, moving above the $500,000 average benchmark. Sales volume was $27,861,200 in the first quarter of 2013 as compared to $31,202,411 for the same period in 2012. However, median prices have escalated by 13% to $499,900 versus Q1 2012’s $442,000.
The condo market experienced a 14% decline in volume and only 6 units sold as compared to 8 units in Q1 2012. The median price dropped 12% to $232,525 and the average price increased 15% from $231,500 to $265,758. Tightening inventory, reduced bank owned and short sale inventory, exploding Bay Area home sales, relatively stable interest rates and a fluctuating stock market adds to the interesting times of Tahoe Donner and Truckee area real estate. Times are indeed changing and prices are beginning to edge up, particularly in the $500,000 cabin range.
Whether you are considering selling your Tahoe Donner home or buying your dream cabin, the market is now self righting.
Selling over $50,000,000 in Tahoe Donner real estate since 2009, Alison knows the market. Contact Alison at530.582.8103 orinfo@eldergrouptahoe.comfor more information.
Leave a Reply