Over the weekend we had 26 new listings come onto the market, comprising of 5 land listings, 4 condos, 1 commercial property, 1 shared ownership listing, a mobile home and 14 single family homes. Prices are ranging from $49,000 for a .32 acre lot in Grey’s Crossing to $4,150,000 for a lakefront bed and breakfast operation on the North Shore of Lake Tahoe. There were only 6 properties going into contract over the weekend, down considerably from the past few weekends. The 6 new purchase contracts were comprised of 5 single family homes and 1 condo.

Of the 64 new listings in the past week, 4 are bank owned and 4 are short sales. There were 6 short sale properties with accepted contracts awaiting bank approval in the past week and of 21 new escrows in the past week, only 3 were bank owned. In the week’s closed escrows, 9 of the 25 sold properties were bank owned or short sales. Single family homes again made up the bulk of the sales, with 15 of 25 closed escrows. There were 9 sales in the Lake Tahoe Basin, 14 in the Truckee area and 2 north of Truckee. Closed escrows ranged from $40,000 for a bank owned lot in Grey’s Crossing to $1,250,000 for a lake view home in Tahoe Vista. Of notable sales this past week was the former “Sunset Idea Home” in Grey’s Crossing that sold for an undisclosed amount in a bankruptcy sale. Prices for the single family homes ranged from $153,000 for a 2 bedroom home in Sierra City to the lake view home in Tahoe Vista that sold for $1.25 million. 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