The real estate market in Squaw Valley is off to a strong start for 2013. Residential sales for the 1st quarter are up 50% in units sold compared to the same period in 2012. Dollar volume is 63% higher than the 1st quarter of 2012. The increase has been in condominium sales, up 150% in units sold and 330% in dollar volume from this time last year. The condominium sales have been throughout the valley with 40% in the Village at Squaw Valley. Single family home sales, in units sold are 50% less and in dollar volume 25% less than this time last year.
Another interesting fact, only 1 of the residential sales since Jan 1st, was a Distressed (bank owned or short sale) Property (8%). The 1st quarter last year had 3 Distressed Property sales (38%). Of the total residential sales in 2012, 15 were of Distressed Properties (24%).
Currently there are:
- 13 residential listings in escrow: 6 single family homes and 7 condominiums. Of those, 2 are short sales (15%).
- 74 active residential listings: 18 single family homes and 56 condominiums. Of those, 2 are bank owned (3%).
Our market is definitely improving and turning from a buyer’s market to a seller’s market. We are coming off of a very strong 4th quarter finish to 2012 with a better start to this year than we had last year. The first quarter is traditionally the slowest quarter of the year. I expect our market to get busier and our sales activity to continue to increase as the year progresses for the following reasons;
- The number of Distressed Property listings has dramatically decreased to just 3% of total active listings so seller’s have much less pressure to keep their listing prices low.
- Inventory levels are low.
- Condo Hotel Financing is now available for purchases in the Village at Squaw Valley
- Financing is available at historically low rates for most other condominiums in the valley and for single family homes.
If you are interested in property in Squaw Valley, Now is the time to act, before prices go higher and we start seeing multiple offers on listings as is starting to happen in Truckee.
Click here to view Squaw Valley property listings.
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Contact me to schedule an appointment; 530-913-6020 or info@GoSquaw.com
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. DRE License #01204227
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