The Market Monitor

August 2, 2010

Re: Truckee Area Real Estate Market

Dear Client;

Market Overview

Well we were waiting to see what July developed so we could get an indication of the current market. June was a very slow month and July started out that way. Some areas like Tahoe Donner ended up with a good month for sales. Greater Truckee was actually slow. Greenwood, Grays, Lahontan, Martis and Timilick, the upper end subdivisions were about normal. Northstar has continued its active pace.

One interesting market barometer, days on market, was very low for July. This variable indicates how long a property is on the market before it sells. A low number, 35 days on market versus the normal 105 indicates that buyers focusing on new listings. They have rejected the offering price of the existing homes, not even making an offer and have decided to wait. When a new listing comes on the market, priced to the market, it is getting action right away. So the homes that are actually priced in a price range the market expects get snatched up quickly.

Homes over $700,000 in all areas did not see much action in July.

The number of homes sold year to date over $1 million is 36 for 2010 versus 35 for 2009.

Tahoe Donner

Tahoe Donner is an excellent barometer of the market as it has the biggest sample number of homes to work with.

There were 28 homes that went into contract in July. The median price was $499,975. This is the lowest median in many years. There was 1 sale over $1 million, 1 at $749,000 and all the rest were under $700,000. To date 130 homes have closed in Tahoe Donner versus 119 last year. The number of home sales over the last 2 months was 48 versus 50 last year. Standing inventory, number of homes for sale, is virtually the same as last year.

There was 1 lot sale bringing the total for the year to 14 versus 7 last year. This certainly can be attributed to the asking prices significantly lowering this year.

Lahontan/Martis Camp/Timilick

There were 2 home sales in Lahontan and no sales in Martis Camp or Timilick. The construction activity in Martis Camp is phenomenal with almost 30 homes under construction and 10 more ready to go.

Old Greenwood/Grays Crossing

Old Greenwood had 1 home sale and 2 fractional sales. Grays Crossing had 1 home sale. There were 4 lot sales in Grays Crossing.

Northstar

There were 5 home and condo sales for the month.

Glenshire/Sierra Meadows/Prosser/Donner Lake

There were 15 total sales in these neighborhoods. One sale was over $1.1 million and the rest were under $560,000. This is a very low number of sales for the month of July.

Squaw Valley / Alpine Meadows

There were 2 home and 4 condo sales in Squaw and 1 home sale in Alpine Meadows.

If you would like more detailed information or specific information related to your property, please do not hesitate to call.

If you know anyone that we can assist to become an owner in our beautiful area and be one of your neighbors, please let us know. If there is anything we can do to help you with your business, we would like to know.

Thank you for your support and referrals.

Sincerely,

Bob and Nancy

The Davis ♦ Yoder Realty Group

Keller Williams Boice Realty

www.truckeeinfo.com

ryoder@truckeeinfo.com

530-550-5175

	New Escrows for July 2010
Price Range	73-91 Homes	92 - 2008 Homes	New Homes	Condos
99-224	0	0	0	1
225-249	0	0	0	0
250-274	1	0	0	0
275-299	2	0	0	0
300-324	0	0	0	0
325-349	0	0	0	1
350-399	3	0	0	0
400-499	6	0	0	0
500-599	4	6	0	0
600-699	0	2	0	0
700-799	0	1	0	0
800-899	0	0	0	0
900-999	0	0	0	0
1,000,000 Plus	0	1	0	0
Total Sales	16	10	0	2
% of Total Sales	57.14%	35.71%	0.00%	7.14%
Current Listings	75	88	2	34
% of Total Listings	37.69%	44.22%	1.01%	17.09%
Price	LOT SALES
0 - 100	1
101 - 150	0
151 - 200	0
201-250	0
251-350	0
351-400	0
401-550	0
Total	1

			Yearly Tahoe Donner Home Sales
	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV	DEC	Total
2007
Inventory	134	131	133	160	197	217	227	228	211	169	153	149
Sold	14	21	19	24	15	17	12	8	20	27	20	12	209
New List	48	28	37	69	64	49	47	42	32	38	20	30	504
Escrows*	20	18	17	14	13	11	10	27	17	22	13	4	186
Sales/List	42%	64%	46%	20%	20%	22%	21%	64%	53%	58%	65%	13%	37%
2008
Inventory	152	159	167	161	197	212	228	204	178	178	152	147
Sold	9	13	17	18	13	22	19	24	22	30	11	13	211
New List	37	38	41	34	71	44	58	45	40	32	29	18	487
Escrows*	18	19	13	15	18	14	19	22	28	12	10	10	198
Sales/List	49%	50%	32%	44%	25%	32%	33%	49%	70%	38%	34%	56%	41%
2009
Inventory	147	156	158	168	173	186	197	200	181	160	115	112
Sold	9	16	15	19	16	18	26	21	29	35	20	37	261
New List	34	31	36	44	55	50	46	53	41	29	16	17	452
Escrows	21	16	17	25	26	30	20	29	41	33	45	25	328
Sales/List	62%	52%	47%	57%	47%	60%	43%	55%	100%	114%	281%	147%	73%
2010
Inventory	96	102	92	107	148	166	199
Sold	13	13	22	27	20	15	16						126
New List	20	26	28	44	67	50	17						252
Escrows	26	26	33	16	19	20	28						168
Sales/List	130%	100%	118%	36%	28%	40%	165%						67%
		Average Price		Median Price		Highest		Lowest		Average Days on Market
2007
Existing Homes		$697,197		$650,000		$2,465,000		$220,000		103
New Homes		$999,500		$795,000		$1,900,000		$508,000		181
2008
Existing Homes		$651,755		$615,000		$1,450,000		$195,000		99
New Homes		$1,134,067		$1,185,750		$1,850,000		$508,000		190
2009
Existing Homes		$563,020		$525,000		$1,599,900		$99,900		106
New Homes		$738,118		$700,000		$1,275,000		$350,000		239
2010
Existing Homes		$534,010		$474,000		$1,725,000		$265,000		109
New Homes		$631,250		$667,250		$865,000		$460,000		102
			Land Sales
2007
Inventory	46	49	55	61	65	72	73	76	73	64	54	45
Sold	1	1	2	6	1	5	1	3	2	1	0	0	23
New List	6	14	13	15	21	10	8	11	3	6	4	4	115
Escrows	3	1	5	1	3	0	3	2	1	0	0	2	21
Sales/List	50%	7%	38%	7%	14%	0%	38%	18%	33%	0%	0%	50%	18%
2008
Inventory	37	34	38	47	57	64	71	72	71	69	58	48
Sold	3	1	1	1	1	1	0	4	1	0	3	1	17
New List	5	3	9	12	10	15	11	6	4	9	5	5	94
Escrows	1	2	2	1	1	0	2	0	0	2	1	1	13
Sales/List	20%	67%	22%	8%	10%	0%	18%	0%	0%	22%	20%	20%	14%
2009
Inventory	49	56	62	59	60	61	59	49	49	42	37	32
Sold	1	1	1	0	1	1	1	1	1	2	2	0	12
New List	4	7	10	3	7	7	5	3	4	4	2	18	74
Escrows	2	0	0	1	0	1	2	1	0	2	0	2	11
Sales/List	50%	0%	0%	33%	0%	14%	40%	33%	0%	50%	0%	11%	15%
2010
Inventory	36	36	40	44	42	53	56
Sold	1	1	4	2	3	1	2						14
New List	7	4	8	8	6	10	1						44
Escrows	1	3	1	3	2	1	1						12
Sales/List	14%	75%	13%	38%	33%	10%	100%						27%
			Average and Median Lot Sales Prices
		Average Price		Median Price		Highest Price		Lowest Price		Average Days on Market
2007		$282,802		$285,000		$399,000		$160,000		119
2008		$260,234		$250,000		$390,000		$130,000		126
2009		$144,417		$148,750		$400,000		$7,500		77
2010		$157,078		$142,500		$450,000		$48,336		122
								NOTE: Figures shown are from
Inventory	>Existing Inventory							January 1, 2007 to July 31, 2010
Sold	>Closed Escrows which represent a sale							representation is based in whole or in part on data
		30 to 90 days earlier						supplied by the Tahoe Sierra Board of REALTORS,
New List	>New listings that came on the market that month							Inc. or its MLS. Neither the Board nor its Multiple
Escrows	>Escrows that opened that month ( *includes condos)							Listing Service guarantees or is in any way
Existing Homes		>Homes that are at least two years old						responsible for its accuracy. Data maintained
New Homes		>Homes built in current year and previous year						by the Board or its MLS may not reflect all real
Days on Market		>Time from initial listing to opening of escrow						estate activity in the market.
		>Homes built in current year and previous year
		>Time from initial listing to opening of escrow
Homes		>Includes homes and condos