Laura Allen | 530.414.1260 Broker Associate, CRS Tahoe REALTOR®, Tahoe-Truckee Area, CalBRE#01473598

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Martis Camp Lots for Sale Market Report

Martis Camp Lots for Sale Market Report – Year End 2015

It’s that time of year to review how the Martis Camp real estate market has performed for the year 2015. Here is the Martis Camp,Truckee, California Lots for Sale Market Report data for the January 1, 2015 through December 31, 2015 time period.

Martis Camp Lots Sold Market Report – Year End 2015:

Sold Sales: Martis Camp had 19 lots sold for the 2015 year that were report in the Tahoe Sierra Multiple Listing Service (TSMLS). The Martis Camp lot sales price increased +14.4% in 2015 over the reported MLS Sales for 2014, with a median lot sales price of $915,000. Please note, that these are only third party re-sales and not builder sales that were reported in the Tahoe Sierra Multiple Listing Serice (TSMLS). 

The Martis Camp area did not have any distressed lot, or home sales in 2015 - no bank foreclosure sales, no short sales, or court approval sales.

The median average days on market for a Martis Camp lot sale was 292 DOM.

Martis Camp Lots for Sale Market Report

Cash Sale Transactions: The number of cash sale transactions for the Martis Camp neighborhood area for 2015 was 74%, which is 3 out of every 4 lots sold in the Martis Camp area was a cash buyer, which is slightly below the Tahoe-Truckee region of 83.9% for lot cash transactions in the area.

Distress Sales: Distress sellers (bank foreclosures- Real Estate Owned (REO’s), short sales, or court approval sales) remains at 0% of all lots sold in 2015. The Martis Camp lots sales market did experience distressed sales back in 2010, 2011, and 2012.

As a point of reference in a normal real estate market the range for distressed sales is 1-5% of all sales falling into the distressed sales category. The continued absence of short sales and REO/Bank Foreclosures is good news for sellers, but bad news for buyers looking for a deal.

Active Martis Camp Lots for Sale: There are twenty-four (24) Active– available lots for sale in Martis Camp as of 04/22/2016. They ranged in price from $785,000 to $2.75 million.

Keep in mind that the Martis Camp neighborhood is a newer subdivision that is nearing the end of the developer involvement.
 
Martis Camp Quick Facts:
  • +/- 653 Home Building Sites in the Martis Camp Development.
  • +/- 301 Homes have been built in Martis Camp, or 46% of the subdivision has been completed.
  • +/- 92 Homes are under construction in Martis Camp, or 393 Homes are close to being completed moving the subdivision, or 60% build-out between built and under-construction phase.
  • +/- 99 Homes are in the design review stage in Martis Camp, which brings the total to approximately +/- 492 Homes are completed, under-construction, or planning stage, or 75% of the home sites are in various stages of either being completed, under-construction, or in the planning stage for development.
  • +/- 161 Lots are undeveloped in Martis Camp with +/- 15 home site still for sale by the builder.
The current available homes for sale in Martis Camp are good given that there are only 301 homes that are built in the subdivision, with an additional +/-92 homes that are under-construction as of 04-17-2016.
Of the twenty-eight (28) homes offered for sale, there are no short sales, no REO (Bank Foreclosures), or Court Approval Sales, or 0% of the current listings are distressed.

Pending Lot Sales: There are four (4) pending lot sales in the Martis Camp area with a listed price range of $895,000 to $2.289 million.

Martis Camp Lots for Sale Market Report Summary - Multiple Years 2015 - 2008

Only TSMLS Data has been used. No direct builder/developer Sales Data has been included:
 

Year

Lots

Sold

Median Average Sales Price

Lowest

Price Sold

Highest

Price Sold

%

Cash

Transactions

%

Distressed

Sales

Breakdown

of distressed

Sales

2015

19 MLS Sales

70 Developer Sales**

$915,000

$675,000

$2,400,000

74%

0%

0 REO’s

0 Short Sales

2014

8 MLS Sales

NA Developer Sales

$800,000

$630,000

$1,800,000

75%

0%

0 REO’s

0 Short Sales

2013

12 MLS Sales

NA Developer Sales

$776,250

$504,000

$1,800,000

92%

0%

0 REO’s

0 Short Sales

2012

24 MLS Sales

NA Developer Sales

$716,500

$325,000

$1,961,000

83%

8%

2 REO’s

0 Short Sales

2011

22 MLS Sales

NA Developer Sales

$600,000

$345,000

$915,000

79%

4.5%

0 REO’s

1 Short Sales

2010

8 MLS Sales

NA Developer Sales

$525,000

$266,000

$1,070,000

100%

50%

3 REO’s

1 Short Sale

2009

3 MLS Sales

NA Developer Sales

$730,000

$360,000

$745,000

100%

0%

0 REO’s

0 Short Sale

2008

2 MLS Sales

NA Developer Sales

$825,000

$450,000

$1,200,000

100%

0%

0 REO’s

0 Short Sale

2007

0 MLS Sales

NA Developer Sales

$NA

$NA

$NA

0%

0%

0 REO’s

0 Short Sale

2006

0 MLS Sales

NA Developer Sales

$NA

$NA

$NA

0%

0%

0 REO’s

0 Short Sale

 
 
 
NA= Not Available
REO's = Real Estate Owned, which is the name banks use for their bank foreclosed properties.
Short Sales = Owner does not have the money to pay off all of the debt and asks the debt holders to take less back in order to close the sale.

*YTD period is 01/01/2015 – 12/31/2015.

** Developer Lot sales data is from a private third party source and has not been verified. 

Use caution when only a handful of sales are available in a neighborhood. The percent changes can be significant and numbers are easily moved in either direction

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS).
Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS). Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the TMLS's may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change, modification, and/or correction without prior notice. If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

If you’d like more information on the Martis Camp area, or would like to know
what your Martis Camp Lot or Home may be worth, call Laura Allen at 530.414.1260
 
 
 
For all of your Tahoe real estate needs –
Overview and summary of this complex completed by:
BROKER ASSOCIATE, Tahoe Real Estate Agent, Tahoe REALTOR®,
Cal BRE# 01473598
All information is deemed reliable, but is subject to change, and/or correction without notice. Buyers and Sellers should investigate and verify all information to their own satisfaction.