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Apr 08 2012

Real Estate Market Report – North Upper Truckee 2 neighborhood in South Lake Tahoe, CA – Past 12 months 2011-2012

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 7 properties sold through the past 12 months (April 2011 through March 2012) in the neighborhood of North Upper Truckee 2. During the same period in 2010 there were 20 properties sold. 

 

From the 7 properties sold in the past 12 months, 1 of them was a foreclosure and 1 was a short sale. Of the 20 properties sold in 2010, 3 of them were foreclosures and 1 was a short sale. 

 

Of the 7 homes sold in the past 12 months, the median home price is $350,000, the median home price in 2011 went down 30.7% from $505,000 during 2010. The average price per square feet of single family homes was $174, down from $204 price per sqft in 2010. The average days on the market was 138 days, compared to 133 days during 2010. 

 

As for the list price to sold price ratio, the homes that sold in North Upper Truckee 2 the past 12 months sold for an average of 81.5% of the original asking price. The list to sold ratio in 2010 was 90.1% of the original asking price. 

 

There were more for sale on the market in the past 12 months compared to the same period in 2010. The month supply in the past 12 months was 7.4 months of inventory, 48.7% more from 2010 that had a supply of 5 months worth of inventory. 

 

There are currently 14 homes on the market within the North Upper Truckee 2 area as of April 7th 2012, 1 of which is in escrow. The home in escrow is listed for $535,000 at $184 price per square feet. This home has 3 bedrooms/3 baths/3 car garage with 2,896sqft built in 1999.

Summarizing all this information for the neighborhood of North Upper Truckee 2 we can realize that compared to 2010, in the past 12 months we had less sales and more homes on the market. The median home price went down from the previous year.

 

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