Over the weekend 23 new listings came onto the market comprising of 8 land listings, 1 condo, 1 shared ownership listing and 13 single family homes. Prices are ranging from $60,000 for a shared ownership listing in Old Greenwood to $3,950,000 for a 1 bedroom lake front home on the west shore of Lake Tahoe. There were 8 properties going into contract over the weekend as standard contracts, and 7 accepted contracts for short sales awaiting bank approval. All 8 new purchase contracts were for single family homes.

Of the 56 new listings in the past week, 6 are bank owned and 1 is a short sale. There were 13 short sale properties with accepted contracts awaiting bank approval in the past week and of 32 new escrows in the past week, 7were bank owned and 1 was an approved short sale. In the week’s closed escrows, 6 of the 30 sold properties were bank owned. Single family homes made up over half of the sales, with 22 of 30 closed escrows. There were 8 sales in the Lake Tahoe Basin, 22 in the Truckee area. Closed escrows ranged from $68,000 for a studio condo unit at Donner Lake Village, to $10,000,000 for a 7+ bedroom lake front estate on the north shore of Lake Tahoe. While selling prices have been averaging right about 94% to 95% of list price for the year, this past week’s average rose to 92%, up from last week’s low 90% average.

The market continues to be active right now with historically low mortgage rates and value pricing with most listings; Contact me today to discuss how you can take advantage of the current market.
View all area listings HERE.

Jamie Schou
Direct – 530-798-1393
jschou@kw.com