Truckee Shared Ownership – Old Greenwood

Truckee Shared Ownership News

Tahoe fractional sales volume up, but values down in 2010

Sales of fractional real estate in the Lake Tahoe area during 2010 saw a saw a 62 per cent increase in sales volume, but a 60 per cent decrease in average overall sale prices.

Abby Moran of Tahoe’s Old Greenwood resort said: “This drop was primarily caused by a couple of very distressed sales, as well as a couple bank-owned foreclosure sales.”

“Through the beginning of the New Year, there continues to be a decline in list prices and sold prices, although most of the very lowest priced townhomes sold in 2010. With little now available in townhomes, 2011 should be the year for cabin, particularly due to the broad representation of primary use periods on the market and aggressive pricing of several sellers. The average days on market increased from 2009 to 2010, most likely due to the relative scarcity of owner listings in 2009 and prior, compared to an increase in listings in 2010. However, as of today, the percentage of all Old Greenwood fractional owners listed for sale is still below 9%, which, for any community, is a very low number in today’s market. This is a good sign for the strength of Old Greenwood fractional ownership in general, and will allow current listed properties to thin out a bit and stabilize at a lower percentage of total ownership on the market for sale,” added Moran.

Contact me if you would like to visit or hear more about these properties. Gary at 530-448-1100