2013, Great Year For Squaw Valley Real Estate Sales

The total dollar volume of sales in 2013 for both Single Family Homes and Condominiums in Olympic Valley (Squaw Valley) increased dramatically although the total number of units sold in both categories only increased slightly from the previous year.

2012 & 2013 Single Family Home Sales

• Units sold:  18 sold in 2012 and 20 sold in 2013 (+11.11%)
• Total Dollar Volume:  $17,192,000 in 2012 and $34,980,000 in 2013 (+103.47%)

2012 & 2013 Condominiums Sales

• Units sold:  45 in 2012 and 48 in 2013 (+6.67%)
• Total Dollar Volume:  $16,410,206 in 2012 and $23,687,637 in 2013 (+44.35%)

In my opinion, this is the result of the following factors;

• 47% drop in number of Distressed Property sales
• low level of inventory which has lead to prices going up
• increased sales in higher priced properties

Squaw Valley’s market is now ahead of pre economic downturn levels in both units sold and total dollar volume but the prices of both Single Family Homes and Condominiums are still generally lower than before the down turn in 2007.

2007 & 2013 Single Family Home & Condominium Sales

• Total units sold:  44 in 2007 and 68 in 2013 (+55%)
• Total Dollar Volume:  $45,488,445 in 2007 and $58,668,187 in 2013 (+29%)
• Median Price
  • Single Family Homes:  $1,462,500 in 2007 and $1,765,625 in 2013 (+21%)
  • Condominiums:  $605,600 in 2007 and $444,500 in 2013 (- 27%)
• Average Price
  • Single Family Homes:  $1,932,916 in 2007 and $1,841,081 in 2013 (- 5 %)
  • Condominiums:  $696,670 in 2007 and $493,492 in 2013 (-29%)

With the number of Distressed Property listings having dropped significantly (only one Distressed Property listing out of eighty two Active listings) sellers no longer need to compete with those below market value prices.  Condo Hotel Financing is again available and interest rates on both Condominiums and Single Family Homes are still quite low for qualified buyers.  As of the date of this posting we have six Condominiums and one Single Family Home in escrow and two Single Family Homes that have closed escrow since the beginning of the month.

It is still a great time to purchase in the valley.

Click here to view all Active Squaw Valley Listings.

Resort Realty Services, Inc. does not guarantee the accuracy of this information.  This data was obtained from the Tahoe Sierra Board of Realtors MLS.  Not all real estate transactions in our area go through our MLS, therefore, this information may not be completely accurate.  CalBRE License #01204227