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Truckee Update
From The Nicholls Real Estate Group
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| Year in Review |
As we look back on 2010 for the Truckee/Tahoe real estate market, I feel like we got about what we expected. One year ago, in our January 2010 newsletter, I stated: "What we would like to see (in 2010) for our local market is consistency. The last 4 years have been filled with highs and lows. The last 6 months (2nd half 2009) have marked the longest stretch of consistent activity since 2005. We don't expect the roller coaster to end, but we do expect it to be less extreme." As it turned out, we saw consistent activity throughout the market place, and ended up with activity numbers which looked very similar to 2009. We extended a 6 month stretch of consistent activity to an 18 month stretch. We also continue to have a very low inventory of homes for sale in our local market (less than 2% of the existing homes in Tahoe Donner are for sale). I know steady and consistent isn't exciting, but in the current economic environment it is a positive.
Going forward, while we certainly hope for an uptick in activity and pricing, I think it's more realistic to expect continued consistency and steadiness. The U.S. economy and the national real estate market still have challenges which need to be worked out. While we have positives like continued low interest rates on home loans, we also have negatives like the foreclosure inventory, and public confidence. Sadly, we're still not out of the woods and I still can't predict that home values will appreciate in the coming year, but I do feel like the risk of further depreciation is limited.
In our effort to better serve our friends, clients, and anyone interested in information about the Truckee area, we hope you will begin to use our updated web site as your "go to" source of for both real estate and local information.
Truckeedreamhomes.com not only features real estate information, but also a blog and many useful links that provide the information you often look for. Our local links include weather information, road conditions, news, ski area reports, maps, local activities and events, and much more.
We encourage you to mark truckeedreamhomes.com as one of your internet "favorites."
We also ask for your input and suggestions to make this website even better.
Thanks and may 2011 be a great year for us all!
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Warning!! Our BLOG may encourage you to want to live in Truckee!!
Getting Ready to ski? Find links to the best weather reports and all the local ski areas on the local links page of our website: |
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TruckeeDreamHomes.com just had a major upgrade to it's property search function, called My Property Manager.
My Property Manager is a FREE and easy to use account that gives you the ability to save and manage multiple properties displayed on TruckeeDreamHomes.com. Think of this as your own private manager that allows you to search, track and save properties listed in the MLS, all in a private, password protected account. In addition to all the organizational tools you will have access to, you can even customize special email alerts so that you receive the latest listings that you are specifically looking for, as soon as they are added. -Save unlimited properties to compare or show others -Free customized email updates, only receive the information you want |
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Local Market Update | |
The period between Thanksgiving and Christmas has historically been a very slow period for the Truckee and Lake Tahoe real estate market. While some neighborhoods did slow down, there were quite a few which had continued solid activity. Overall I would say it was a "productive" December.
Tahoe Donner: 9 homes went into contract in the month of December. Overall, 2010 was a solid year for Tahoe Donner as the number of home sales held steady with what we saw in 2009 (223 sales to 227 sales, compared to 177 and 193 in '07 and '08). The average sales price did drop by 8%, but this seemed mostly to occur in the first half of the year. In light of the regularity with which clients ask questions about activity and values in the neighborhood, we will be posting weekly Tahoe Donner real estate activity on our blog each Monday. Here are the pictures and details for the new escrows in December: Tahoe Donner Real Estate Activity . Martis Camp: As other newer developments around the country struggle, Martis Camp continues to carry great momentum. 57 homesites and 5 custom homes sold in 2010 which, according to the Martis Camp press release, marks a 36% increase in transactions over 2009. This article, by Jay Stuller of the A Position, is a great overview of the community and all the things which have made Martis Camp so successful.
Northstar: Northstar seems to be the one neighborhood which stays busy through the holidays. For the second year in a row, December activity was very strong with 7 condos and 4 single family homes going into contract: Northstar Real Estate Activity .
Lahontan: For the 5th month in a row, no homes went into escrow in Lahontan.
Glenshire/Sierra Meadows/Prosser/Donner Lake: A respectable 16 homes went into contract with the focus on the lower end of the market. 14 of the homes had asking prices under $450k: Truckee Real Estate Activity.
Squaw Valley/Alpine Meadows: Combined, Squaw and Alpine are averaging over 10 properties going into contract per month for the last 3 months. In December it was 4 homes and 5 condos. This is very solid activity for the area, and the kind of consistency which gives us confidence in the market: Squaw Valley and Alpine Meadows Real Estate Activity . North Lake Tahoe: Strong activity continues with another 17 single family homes going into contract. The activity was focused on the lower end of the market, with 16 of the 18 homes having asking prices under $650k. Here are the details: North Lake Tahoe Real Estate Activity. All Statistics provided by the Tahoe Sierra MLS, with the exception of the Martis Camp subdivision which are provided by the Martis Camp sales team. All statistics assumed to be accurate, but not guaranteed. |
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Contact us |
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Alan Nicholls
530-550-5005
Norm Nicholls
530-550-5035 | |
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