MLS Links Feb. 28 – Mar. 7

Market activity is picking up as 2010 progresses. Property showings have increased, offers are being made, and prices continue to drop.  As the end of the first quarter of 2010 nears, its clear that sales are up significantly from last year. Looking at the number of listings currently under contract shows what is selling and for how much, see the charts at the end of this post for details on this trend.

New Listings

• Single Family Homes

Current Single Family Homes Pricing

• Condos

Current Condo Pricing

• PUDs – no new listings

Current PUD Pricing

Price Changes

• Single Family Homes
• Condos
• PUDs

Under Contract

• Single Family Homes
• Condos

McCloud #81 is one of Lakeshore’s listings currently under contract. This is just one of 22 condos under contract!!

• PUDs

Sold in 2010

• Single Family Homes
• Condos
• PUDs

MLS Information Feb. 19 – Feb. 28

New Listings

• Single Family Homes
• Condos
• PUDs – no new listings

Price Changes

• Single Family Homes
• Condos
• PUDs – no price changes

Under Contract

The following status’ apply for listings “Under Contract” :

P = Pending Bank Approval (REO, Short Sale, Foreclosure)

C = Contingent

U = Under Contract – Contingencies Released

S = Sold

• Single Family Homes
• Condos
• PUDs

• Single Family Homes
  • Short Sales
• Condos
• PUDs

Snap shot of current market- Incline Village & Crystal Bay, Nevada, Lake Tahoe

Current Residential Listings:

Low - 803 Geraldine, $399,000

Median – 687 Cristina, $1,580,000

High – 593 Lakeshore, $34,000,000

MLS Information Feb. 13th- Feb. 21st

As 2010 moves on, real estate business is steadily increasing. See the links below for MLS information on the Incline Village and Crystal Bay, NV area in the past week.  There are a significant number of new listings and some price reductions worth noting.

New Listings

• Single Family Homes

• Condos
• PUDs – No new listings

Price Changes

• Single Family Homes

1069 Mill Creek was reduced to $699,000, a great value for this property!

• Condos
• PUDs – No price changes

Under Contract

• Single Family Homes
• Condos
• PUDs

Sold in 2010

• Single Family Homes
• Condos
• PUDs

Snap shot of current market- Incline Village & Crystal Bay, Nevada, Lake Tahoe

What to Expect in 2010 – Prices and Sales

As we approach the end of the first quarter of 2010 it looks like market trends for this year are heading in a positive direction for both buyers and sellers. Noting quarterly sales numbers from years past indicates that while prices continue to drop, the number of sales are increasing.  The chart below shows the median sales price for residential homes over the last four years. From 2006-2007 prices increased 5% and from 2007 on they have significantly gone down, dropping 6% in 2008 and 10.5% in 2009. The graph illustrates that in 2007 prices peaked and have since been decreasing.

What is interesting, however, is that sales activity is on the upward trend.  The two charts below track the quarterly sales for condos and single family homes.  The red line shows sales for 2009 and it’s clear that in both condo sales and residential sales, activity is increasing.

This chart shows the fourth quarter sales for 2008 and 2009.  Though PUD sales are even, both residential and condo sales have increased dramatically.

Looking at first quarter sales from 2009 shows that residential sales were at 15 and condo sales at 11.  So far in 2010 we are at 14 residential sales and 9 condo sales….considering we are only half way through the first quarter of this year, numbers are looking great!! If this steady flow of business continues, 2010 should follow on the trend of high sales activity and low prices.

• New Listings
  • Single Family Homes
  • Condos
  • PUDs
• Price Changes
  • Single Family Homes
  • Condos
  • PUDs – no price changes
• Under Contract
  • Single Family Homes
    • Under Contract total single family homes is 18, the popular price range for home sales in 2010 falls below $1,000,000
      • 12 units under $1,000,000
      • 3 units $1,000,000-$2,000,000
      • 2 units $2,000,000- $3,000,00
      • 1 unit   $4,000,000-$5,000,000
  • Condos
    • There are 11 units of the 15 under contract priced below $300,000.
  • PUDs

• Sold in 2010
  • Single Family Homes
    • A shout out goes to one of our agents- Nevada Methard  who closed 936 Lakeshore Blvd this week at $2,750,000 representing both buyer and seller.

• Condos
  • Out of the 9 sales 7 closed under $400,000.
• PUDs

Facts and Figures for Listings Under Contract or Sold Thus Far in 2010

Snap shot of current market- Incline Village & Crystal Bay, Nevada, Lake Tahoe

Residential Sales

Active Single Family Residential Listings:

Price breakdown:

$300-$600,000= 14 $1,800,000-2,000,000=9

$600,000-$800,000=13 $2,000,000-$2,500,000=11

$800,000-$1,000,000=20 $2,500,000-$3,000,000=13

$1,000,000-1,400,000=27 $3,000,000-$5,000,000= 20

$1,400,000-1,800,000=13 $5,000,000-34,000,000=16

Condominium Sales

Active Listings:

The largest number of listings (53) are priced below $400,000, followed by second largest group of 30 units priced between $400,000 to $600,000.

The complex with the largest number of listings is McCloud with 16 units ranging in price from $375,000 (Low) to $520,000(Median).  Bitterbrush follows McCloud with 10 units listed priced -$369,000 (Low) $475,000 (Median).

The lowest priced unit, listed for $169,950, is at Toepa. A median list of $449,000 is found at Fairway Pines while the highest price unit at $2,100,000 is located at Stillwater Cove.

Steve Peterson provides a great recap of economic activity concerning real estate sales and the housing market.  His weekly commentary provides some useful information and ideas. Click on the image below for a full size view.

MLS Update February 2010

New Listings

• Single Family Homes- Out of the four new listings three were previously on the market and  back on with much needed price reductions. The First time new listing is  555 Knotty Pine  and worth a look. As spring approaches we will see an increase in inventory and more price reductions on the homes still on the market who will need to stay competitive with the new inventory.

• Condos- One new listing at 1000 Lakeshore, larger floorplan priced under $700,000.  Looking for a short sale  this 2 bed 2 bath at 836 Southwood is a value at $238,000.
• Lots and Land
• PUD’s- no changes

Price Changes

• Single Family Home Price Reductions
• Condo Price Reductions

Under Contract (Escrow)

• Residential Listings Currently Under Contract
• Condo Listings Currenly Under Contract
• Planned Unit Developments (PUDs) Currently Under Contract

Lakeshore Realty PUD Under Contract

300 Glen Way – “The Reserve”

Sold

• Single Family Homes Sold in 2010
• Condos Sold in 2010
• Planned Unit Developments (PUDs) Sold in 2010

Snap Shot of Current Market Listings – Incline Village & Crystal Bay, NV

Incline Village & Crystal Bay, Nevada, Lake Tahoe

Real Estate Market Activity for January 29^th, 2010

New listings links:      Single Family Homes — Condos

Under Contract (Escrow) links: Residential Listings Under Contract — Condos Under Contract — PUDs Under Contract

Sold Links: Listings Sold in January 2010

Price Changes in the past week : Residential Price Changes —-  Condo Price Changes

Snap shot of current market- Incline Village & Crystal Bay, Nevada, Lake Tahoe

Incline Village  has a low inventory but… what is available offers impressive investment opportunities for buyers. Incline Village is one resort village which has the staying power with a life style and amenities no other lake front community can offer.
Following is the latest statistical information on Incline Village, Nevada including active listings, properties under contract and solds for this year.
Links will take you to additional information and views of sample properties.
Please contact us, Chris and Patti Plastiras,  for any additional information or to sign up (no obligation) for updates on properties that interest you.

Incline Village, Crystal Bay

 Condominiums:

Comments: Highest number of listings ‘for sale’ are found in the McCloud Complex w/14   link to McCloud listings
 Sample of  Bitterbrush  litings 12 on market     
           ”            Mountain Shadows  8 on market
Lakefront complexes = 10 units on the market,  link  to all  lakefront listings
Sold: Crystal Baycove lakefront, Listed @t $1,998,000 Sold @ $1,850,000

Homes:

 Sold Homes Incline Village  as Jan. 18, 2010    Average days on the market  to sell = 202

                    Average List    Median List         Lowest List         Highest List

Asking       1,850,000         1,049,000             599,000        4,200,000

Sold            1,567,000        951,500                 615,000          3,750,000

Average price differential between asking and selling 79.79 %

Planned Units Developments/ Pud’s(Freestanding town homes)

Link to review the 8 pud’s under contract  for Incline Village

Link to  the one sold Pud

Planned Unit Developments are freestanding town homes with home owner associations.

Out of the 44 listings 18  have reduced their  price since listing

Links give samples of  Pud’s in various complexes:  Incline Creek Estates=5,    Tyrolian Village= 9,     Country Club Villas= 5

Link to review the 8 pud’s under contract  for Incline Village

Mobil  Media and its impact on real Estate:

Lakeshore Realty takes full advantage of  Mobil Media to help buyer’s and seller’s.

Aa sign on a property is considered a small but effective step to advertise a property, brochures which give details, the most critical, price helps buyers determine if theywant to see the property.

What’s the next step? Having this property and all other’s in the neighborhood available to buyer’s through their phones.   Adding a simple application such as Zillow, Trulia and Smarter Agent to name a few, buyer’s can pull up other listings in the neighborhood and get all the data they need to make the decision to call for more information and a showing  or gathering more information about the area.  

Statistics:

The number of consumers using mobil technology is growing daily: 276.5 call phone subscribers   in the United States (80%) of the population.

20% of households do not have landlines phones

20% growth  is predicted for  mobile broadband predicted from 2008 by 2010

24/7 information available to consumers

Tracking leads and capturing inquiries is easy for consumers and for agents to react immediately

Consumers prefer mobil contact- texting is very popular and many clients utilize this media to communicate followed up by the  Internet.