Over the weekend we had 33 new listings come onto the market comprising of 5 land listings, 7 condos, 3 commercial property listings, 21 shared ownership listings and 16 single family homes. Prices are ranging from $50,900 for a 3 bedroom, 2 bath bank-owned home in Loyalton to $1,795,000 for a commercial building in Tahoe City. There were only 4 properties going into contract over the weekend, down again considerably from the past few weekends. The 4 new purchase contracts were comprised of 3 single family homes and 1 condo.

Of the 86 new listings in the past week, 8 are bank owned, 6 are short sales and 1 requires court approval. There were 8 short sale properties with accepted contracts awaiting bank approval in the past week and of 16 new escrows in the past week, only 3 were bank owned. In the week’s closed escrows, 8 of the 38 sold properties were bank owned or short sales. Single family homes again made up the bulk of the sales, with 22 of 38 closed escrows. There were 18 sales in the Lake Tahoe Basin, 16 in the Truckee area, 1 on the summit and 3 north of Truckee. Closed escrows ranged from $18,500 for a bank owned 1 acre lot in Grizzly Ranch, a golf community north of Truckee to $3,400,000 for a commercial building in downtown Tahoe City. Prices for the single family homes ranged from $45,000 for a 3 bedroom bank-owned home in Portola to $1,380,000 for a 4 bedroom home at Serene Lakes on Donner Summit. Selling prices continue to average right about 94% of list price.

The market is active right now with buyers moving on the best deals while taking advantage of historically low rates; I believe there are excellent opportunities for buyers and sellers in the current market. You can view all area listings HERE. I have the experience and knowledge to help you negotiate the best deal in today’s market. Give me a call to help you sell or purchase your Tahoe/Truckee property.

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