Tahoe/Truckee Weekly Market Update – November 29, 2010
This Holiday weekend brought only 5 new listings with 2 condos, 1 residential lot and 2 single family homes coming onto the market. Prices for the listings are ranging from $559,000 for a 2 bedroom condo in The Village at Squaw Valley to $2,275,000 for a 5 bedroom home in Old Greenwood. There were 4 properties going into escrow over the weekend, and 1 accepted contract for a short sale awaiting bank approval. 3 of the new purchase contracts were for single family homes and one was for a residential lot.
Of the 19 new listings in the past week 3 are bank owned. There were 6 short sale properties with accepted contracts awaiting bank approval in the past week and of 10 new escrows in the past week, 1 is bank owned and 2 are short sales. In the week’s closed escrows, 1 of the 18 sold properties was bank owned and 1 was a short sale. Single family homes made up a majority of the sales, with 15 of the 18 closed escrows. There were 7 sales in the Lake Tahoe Basin, 10 in the Truckee area and 1 north of Truckee. Closed escrows ranged from $185,000 for 2 bedroom home in Clio, north of Truckee to $9,500,000 for a 7+ bedroom lake front home on Tahoe’s West Shore.
The market continues to be active with buyers looking for deals. This is fueled by historically low mortgage rates and value pricing on many listings. Contact me today to discuss how you can take advantage of the current market conditions and low rates.
View all area listings HERE.
Jamie Schou
Direct – 530-798-1393
jschou@kw.com