Real Estate Market Report – North Upper Truckee 1 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 36 properties sold through the past 12 months (April 2011 through March 2012) in the neighborhood of North Upper Truckee 1. During the same period in 2010 there were also 36 properties sold. 

This is the number of homes sold in the N Upper Truckee 1 Area
This is the number of homes sold in the N Upper Truckee 1 Area

 

From the 36 properties sold in the past 12 months, 10 of them were foreclosures and 5 were short sales. Of the 36 properties sold in 2010, 7 of them were foreclosures and 8 were short sales.

This is the breakdown of homes sold in the N Upper Truckee 1 Area
This is the breakdown of homes sold in the N Upper Truckee 1 Area

 

Of the 36 homes sold in the past 12 months, the median home price is $240,500, the median home price in 2011 went down 28.7% from $337,500 during 2010. The average price per square feet of single family homes was $187, down from $202 price per sqft in 2010. The average days on the market was 125 days, compared to 197 days during 2010. 

This is the median sales price of homes sold in the N Upper Truckee 1 Area
This is the median sales price of homes sold in the N Upper Truckee 1 Area

 

As for the list price to sold price ratio, the homes that sold in North Upper Truckee 1 the past 12 months sold for an average of 90.6% of the original asking price. The list to sold ratio in 2010 was 89.5% of the original asking price. 

This is the  percent of original listing price recieved from homes sold in the N Upper Truckee 1 Area
This is the percent of original listing price recieved from homes sold in the N Upper Truckee 1 Area

 

There were less homes 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 5.7 months of inventory, 40.8% down from 2010 that had a supply of 9.6 months worth of inventory. 

This is the  percent of original listing price recieved from homes sold in the N Upper Truckee 1 Area
This is the months supply of homes for sale from homes sold in the N Upper Truckee 1 Area

 

There are currently 24 homes on the market within the North Upper Truckee 1 area as of April 7th 2012, 6 of which are in escrow. Of the homes in escrow, the prices range from a low of $159,000 up to $350,000, all with an average of $183 price per square feet. The home listed for $159,000 is a 2 bedrooms/1 bath/no car garage home with 848sqft built in 1964. The home listed for $350,000 is a 4 bedrooms/3 baths/3 car garage home with 2,668sqft built in 1980.

Summarizing all this information for the neighborhood of North Upper Truckee 1 we can realize that compared to 2010, in the past 12 months we had the same amount of sales and less homes on the market. The median home price went down from the previous year but homes were selling faster.

 


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