Gary LaBelle, CA Realtor®, (530) 448-1100, Email Gary
Subject: Tahoe Donner Sales History for Single Family Homes
Date: August 10, 2009
Tahoe Donner is a relatively large community in Truckee with approximately 5100 completed homes. So, statistically it is a good area to choose from to ascertain Truckee market activity and pricing trends.
This data covers 2007 and 2008 and 2009 through August ‘09. The data contained herein is obtained from the Tahoe Sierra MLS. This data is believed to be accurate but must be verified prior to submitting a purchase offer. Caution should be used when interpreting the data as there are many market factors influencing pricing that may or may not be relevant or obvious to the reader.
Call me if you have any questions about the data and graphs!
Please contact me if you would like more information about market activity for certain price ranges, Tahoe Donner Condominiums, or similar data for other Truckee/Tahoe housing communities
Good luck in selling or buying your home in Tahoe Donner or the other Tahoe/Truckee communities – please let me know if I can provide excellent service to you!
Gary LaBelle, Realtor
(530) 448-1100, TruckeeRealEstate@gmail.com
www.truckeehome411.com
Referrals greatly appreciated
The following Figure shows Tahoe Donner Single Family Home activity from Jan 2005 through August 2009.
Figure 1. Tahoe Donner Single Family Home Sales
Results for August, 2009
August was another good month for Tahoe Donner. Inventory is continues to be low and sales track with previous months.
Inventory is well behaved at 164 homes on the market. When you consider we have over 5100 homes in Tahoe Donner this is approximately 3% of the homes in TD. This is positive since inventory is remaining low and not putting extreme competitive pressure on sales prices.
Average Days on market (DOM) dropped considerably done to 67 from 103 in July and low historically. This is a very positive indicator and shows homes are moving quickly.
Single family home sales were 17 homes, down from 21 last month. This is a bit misleading since there are a considerable number of homes in escrow at this time. September and October should be very strong months for sales.
Figure 2. Tahoe Donner Single Family Home Median and Average Home Price
One important change that started in Jan of ’09 is that Average and Median prices had a significant downturn – see Figure 2. However, one can see that the average and median prices continued to climb since Jan ’09. This is generally a good trend and could be construed as a sign that the Tahoe Donner single family home market is healthy.
Figure 3. 2007, 2008 and 2009 Year to Date Sales Data
Figure 3 shows how the increase in DOM for August looks from a historical perspective. The 67 days looks very good from a historical perspective.
So, what’s the future hold? Hard to say but it is clear that building activity for spec homes is significantly down from the previous year. Our local market in Tahoe Donner is served by a number of smaller contractors that have reacted quickly to the market conditions by not building more new homes and inflating inventory.
Other factors that have affected the local market are lending agency repossessions and short sales. Repossessed properties can be “distressed” and therefore are quite often sold at a discount to the “accepted” fair market price. In some cases, an alternative to repossession is a short sale where the lending agency will allow the homeowner to sell the property at a price below that of the owners loan balance and “forgive” the difference. Such activity, if more continuing in the future, could adversely affect the average price of homes sold.
I hope this data, presented in this form was useful to you. For an instant update, or a discussion about condos/townhomes, please call me and I’ll be pleased to provide you with the most recent data available.
MLS data is available and I encourage the buyer or seller to study the data and arrive at their own conclusions before making a buy or sell decision. Contact me if you would like to see the “raw” data.
