Truckee-Tahoe area leads counties in high home prices
Truckee is still Nevada County’s most expensive place to live.
According to DataQuick Information Systems in San Diego, Truckee’s median home price in November was $540,000, up 2.86 percent from the year before. The county average was $479,500, also up compared to a year ago by 5.73 percent.
Anita Noble, an Intero Real Estate broker, said that Truckee’s prices are a result of being in a destination market.
“We are a resort area, and that’s how we market ourselves,” Noble said.
She said prices are driven by the large developments and resorts in the area, and those effects aren’t limited to Truckee.
While DataQuick shows a decline in median prices in Placer County, Noble said the North Lake Tahoe, Lahontan, Squaw Valley, and Northstar areas of Placer have increased from about $715,000 to about $817,000 over the last year.
“Our market is so unique that while volumes of homes sold go up and down, the prices just keep climbing,”
Volumes, the number of homes sold, went from 439 in those areas of Placer in 2005 to 312 this year, Noble said.
Home prices are more affordable in the western portions of Nevada and Placer Counties.
Grass Valley remains the most affordable area to buy a house within Nevada County, with a median price at $413,500, an increase of 4.16 percent over November 2005, according to DataQuick.
Foresthill is the least expensive town in Placer County at $380,000 in 2006, down from $391,000 in 2005.
But local area trends are difficult to chart, because the markets are so small, county Board of Realtors Executive Director Skip Lusk told The Union, the Sierra Sun’s sister paper in Grass Valley. Year-to-year medians have been going both up and down in most areas in recent months, as the pace of house sales statewide slows and prices in many areas fall from record highs.
DataQuick tracks sales for new and used houses and condominiums recorded each month in county recorder’s offices.
” The Union’s Trina Kleist contributed to this story
No. Sold Nov 06 Nov. 05 % Increase
Truckee 47 $540,000 $525,000 2.86
112 $479,500 $453,500 5.73
Grass Valley 28 $413,500 $397,000 4.16
Nevada City 17 $525,000 $433,800 21.02
Placer County 505 $429,000 $491,000 -12.63
Bay Area 7,204 $616,000 $625,500 -1.4
So. Cal. 20,388 $487,000 $479,000 1.7
California 39,200 $469,000 $458,000 2.4
” Source: DataQuick Information Systems, San Diego
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Temperatures will remain sunny in Truckee through the work week, though the chance of snow remains in the forecast for the weekend.