The Market Monitor
March 8, 2010
Re: Truckee Area Real Estate Market
Dear Client;
Market Overview
The market continues to be very active as buyers are finding the prices to their liking. Additional loan rates are very attractive. The ski resort subdivisions have been very active as one would expect at this time of year. The low end of the market is almost a frenzy. Great deals in subdivisions like Lahontan and Grays Crossing. I am sure we will be looking back and remembering this great buying opportunity.
Tahoe Donner
Home sales remain very strong in Tahoe Donner and inventory is exceptionally low. Now is a great opportunity to sell.
Lahontan/Martis Camp/Timilick
There was 1 home sale in Lahontan and prices in this subdivision are very attractive.
Old Greenwood/Grays Crossing
Grays Crossing home prices have fallen to dramatically low levels with foreclosures working their way through the system. There were 2 home sales in February.
Northstar
Northstar continues to be on a roll with 5 Village Condos and 3 homes selling.
Glenshire/Sierra Meadows/Prosser/Donner Lake
There were 29 sales in these subdivisions. The interesting points is that 21 were short sales, meaning the loan amount is greater than the sales price and requires bank approval and the median sales price was $310,000. The low end of the market is at very affordable levels and is being consumed.
Squaw Valley / Alpine Meadows
When the prices get to the right level the sales take off. There were 16 sales in Squaw after a very slow winter. There were a number of short sales in the Resort at Squaw Creek as the developer lowered his prices to move the remaining inventory. There was 1 sale in Alpine.
If you would like more detailed information or specific information related to your property, please do not hesitate to call.
If you know anyone that we can assist to become an owner in our beautiful area and be one of your neighbors, please let us know. If there is anything we can do to help you with your business, we would like to know.
Thank you for your support and referrals.
Sincerely,
Bob and Nancy
The Davis Yoder Realty Group
Keller Williams Boice Realty
www.truckeeinfo.com
ryoder@truckeeinfo.com
530-550-5175
