Truckee real estate sales along with other resort areas are experiencing significant changes. Sales are increasing and inventory is shrinking. The entry level of the Tahoe Donner and Truckee market has been especially hot. Now we are seeing mid level market segments experience increasing interest. Inventory is very tight and buyers are in the marketplace. What this indicates is when a home hits the Truckee real estate market, there could be multiple interested parties.

Truckee and Lake Tahoe are not the only real estate markets seeing this type of buyer interest. This comes from a Vail real estate brokerage -”the market sales for February have seen over a 100% increase from February 2011. Most segments of the market are moving, with prices ranging from $200,000 all the way up to $11million. Our top 2 sales this year have both been in Bachelor Gulch, one selling for $10.5 million and the other for $11 million. Vail has been our busiest area in the Valley so far, with 11 sold properties in the past 2 months. Beaver Creek is not far behind with 7 residences sold by SSFRE to date.”

Hilton Head Island sales agents are reporting the same thing -”If Spring is a time of renewal, I can assure you that the real estate market is soaking up its fair share of that sentiment as sales numbers continue to increase.  There was a nearly 7% increase in the number of Pending sales in 2/12 over 2/11, and Closed sales YTD are up nearly 12% over this time last year!  A lot of what is fueling this is the continual drop in inventory coinciding with the continual rise in interest by ready/willing/able buyers.  In short, the market IS shiftin”

Warren Buffet in his latest address to shareholders indicated home sales are picking up and if he could he would buy several hundred thousand and take advantage of low mortgage rate.

Could the market be changing? You will never know that answer for sure until it has already changed. The question to ask yourself is what are the odds that mortgage rates and home prices will go lower rather than higher? Only 1 person will get the lowest value in your market. So if your are around the bottom, that should be ok. Truckee real estate is selling for less than you can replace it and lot prices are back to mid 1990 prices. Truckee real estate especially when compared to prices in other resort markets, is extremely attractive.