Dickson Realty Truckee maintains optimistic outlook heading into the next decade
February 18, 2010
TRUCKEE and#8212; Despite a slight decline in 2009 to the median home prices in the Truckee and North Lake Tahoe areas, Dickson Realty Truckee maintains an optimistic real estate outlook for 2010 and in the coming years. The agency reports 787 homes sold in 2009, an increase of 20 percent from the market low of 655 in 2008. In addition the number of distressed properties, both foreclosures and and#8220;short sales,and#8221; currently on the market is down, comprising only eight percent of available properties.
and#8220;As we look toward the new decade, weand#8217;re seeing new opportunities in the real estate market, changes in lending and new first time home buyer programs and incentives that will allow more buyers to realize their dream of home ownership,and#8221; said Lil Schaller, broker and owner of Dickson Realty Truckee. and#8220;The slowdown was experienced by all but peaks of positive attitudes have been evident, especially over the last several months, and the Truckee and North Lake Tahoe area continues to remain a desirable place to live.and#8221;
As 2009 came to an end the median home price in the Truckee and Lake Tahoe area was $512,000, down 25 percent from its peak in 2006, yet still 29 percent ahead of 2002and#8217;s median price of $397,500. Truckeeand#8217;s Tahoe Donner subdivision, which comprises the largest percentage of the sales in the Truckee and North Lake Tahoe area, has similar statistics. At the end of 2009 the median home price was $568,500, a 25 percent decline from a high in 2005 of $765,000, and a 29 percent increase from the 2002 median price of $495,000. 2009 total home sales for the Tahoe Donner subdivision was up 16.5 percent compared to 2008, with 225 homes sold during the year.
Distressed properties in the Truckee and Lake Tahoe area accounted for 27 percent of sales with 127 foreclosures and 85 and#8220;short sales.and#8221; In January, according to Dickson Realty Truckee, there were 23 foreclosure properties on the market or three percent of the total inventory available, and 102 and#8220;short saleand#8221; listings equaling 14 percent of the inventory.
For more information on Dickson Realty Truckee, visit http://www.dicksontruckee.com or call (530) 587-7444.