North Tahoe and Truckee real estate listing inventory is currently very low due a very active 2012 market and a large reduction in distressed listings. Currently there are 507 Active Residential Listings in our market, a decline of approximately 37% from this time last year. Distressed Properties (short sales and bank owned) currently are only 3% of Active Residential Listings, down from approximately 30%+ last year.
We are now in a seller’s market, especially in the $500,000 and below price range. Currently only 32% of our Active Residential Listings are in that price range, which means that 68% of the market is priced above $500,000. In 2012, sales sold at $500,000 and below were 64% of all Residential sales. The market has definitely changed.
We are also seeing a similar trend with inventory levels across the country according to a recent article in Inmann News
. Nationwide inventory is 16.5% below this time last year.
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