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Market Snapshot: December 2016

Wednesday, December 14, 2016   /   by Sasha Spiegel

Market Snapshot: December 2016

Residential Sales Summary 2016

Total Residential Sales:  Through December 15th, residential sales continued their upward trend compared to the same period in 2015.  Sales are up over 17%. Of the total sales in the market this year, 1,076 have been single family homes, while 339 have been condominium sales. In 2015 for the same period, there were 948 single family homes sold and 255 condominium sales.

December 1st through December 15th Sales:  The first two weeks of sales in December were identical to the previous two-week period with 55 properties sold in the market.  Of the 55 properties sold this period, three (3) were sold at a price above $1.0 million.

Coldwell Banker Ranks #1:  Among all brokerages in the north Lake Tahoe and Truckee markets Coldwell Banker ranks #1 in units sold with 715 total sales with total sales volume of $393 million.  Coldwell Banker is #2 in luxury sales with 66 units sold and $103 million in sales volume.

Median and Average Sales Prices:  The median sales price for residential properties through December 15th was $565,000 which is up over 7%. The average sales price is up over 13% to $875,555.

Sales Under $500,000 Sales:  The lower end of the market, homes priced under $500,000, continuously has the highest level of sales activity as 41% of the sales or 585 properties have sold in this price range.

 Mid-Range Market Sales $500,000 to $999,999:  Mid-Range sales for 2016 are up 16%. There have been 553 properties sold at a price between $500,000 and $1,000,000 representing 39% of total sales.