Truckee Real Estate – Tahoe Donner SF Home Sales – July ’10

Truckee Real Estate – Tahoe Donner Single family Home Sales – July 2010

The following Figure shows Tahoe Donner Single Family Home Sales from Jan 2008 through July ‘10.

The data is obtained from the Tahoe MLS published data for July 2010. This is for single family homes only – contact me for data on Tahoe Donner Condos or data for other Truckee areas. Gary at 530-448-1100

Single family home sales were 13 homes, down from 15 last month. The 13 home sales are lower than last year but on par with 2008. As mentioned previously, based on seasonality data for the last couple years, we can expect to see home sales rising through the late summer and fall. Regarding new home sales, there are a few on the market with a few more coming before winter. Regarding lots, we only have another couple months of possible buildable lot sales as we enter the end of the summer building season.

 

Figure 1. Tahoe Donner Single Family Home Sales – Note seasonality of sales

Inventory (# of SF listings) picked up from 152 to 167. As mentioned in the last couple months report, the inventory has grown as property owners have worked on their homes over the summer and have now listed them before the busy fall selling season – note the seasonality of sales shown in Figure 1 where August through the end of the year is typically strong. Note that inventory tends to be a bit higher before we enter this strong selling season.

When you consider we have over 5100 homes in Tahoe Donner this is approximately 3 % of the homes in TD.

Average Days on market (DOM) increased  to 104 – which looking at the above graph is roughly about average.

Figure 2. Tahoe Donner Single Family Home Median and Average Home Price

One can see that the average and median prices are holding fairly steady through ‘09.  And ’10. This is a good trend and could be construed as a sign that the Tahoe Donner single family home market is healthy.

One factor that affects this price curve is a lack of new high end home construction activity in Tahoe Donner. This will tend to keep single family (SF) home pricing a bit lower until we get some additional high end construction activity and new homes for sale. This is another good sign of a strong market beause prices tend to be holding in even without the expensive new homes coming on the market.

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. I also have sold price vs. listed price data and prices per sq ft –  this is very helpful if you are considering selling or buying a home – call me for a copy of this data.

Gary LaBelle, your Truckee Realtor

www.truckeehome411.com

TruckeeRealEstate@Gmail.com

(530) 448-1100

DRE #01495906

Truckee Real Estate – Tahoe Donner July SF Sales

Update on August 3rd.

There were 13 single family home sales in July – down from 15 last month.

See data below.

Truckee Real Estate – Are Open Houses Effective or a Waste of Time?

Ah, the Open House Merry-Go-Round.

Do I do them? Do I don’t?  Do I do them?  Do I don’t? And round and round the debate goes.  And the ride never seems to stop.  “Yes, they’re great.”  “No.  They don’t sell houses.”  “Yes, I pick up buyers.”  “No. They are waste of my time.”

No doubt, you fall on one side of the argument or the other.  It seems like I read more blogs here at Active Rain that fall more on the, “No, I don’t do them” side of the argument, than I do supporting open houses.

For me, I do open houses and here’s why.  My sellers want me to do them.  They usually don’t care that open houses usually don’t sell houses.  What they want is every opportunity for a buyer to see the house, be in the house and consider the house.  The small chance that someone will walk through the door at an open house, love the home and buy it is important to most sellers.

And it does happen. I have actually sold several houses to people who walk into the open house.  Sometimes they’re with their agent and sometimes they have no agent. But even if it didn’t happen.  Even if I never sold a single house from an open house, I’d still hold houses open and here’s why.

1.  Open houses are good customer service!

2.  Not every Realtor will hold open houses.

3.  I can get an incredible amount of work done during an open house, including blogging.

4.  Open houses keeps me sharp.  I have to be ready to engage the buying public.

5.  Open houses keep me in the house, which keeps the house fresh in my mind.

6.  Open houses help keep me in touch with sellers, which sellers love.

One last reason I do open houses is because, if I were a seller, I would want open houses done on my home and I wouldn’t want my Realtor arguing with me about whether or not they are effective.  I hired you, I want this service, now do your job.  It kind of falls under that, “Do unto others as you would have them do unto” thing.

Picture courtesy of Flickr Creative commons:  http://www.flickr.com/photos/janekm/685367561/

Truckee Real Estate, Tahoe Donner 1H $/Sq Ft Sales Data

Been considering buying or selling a Tahoe Donner Home home and heard some reference to a $/sq ft number?

Here’s some data that will allow you to have a frame of reference for the number.

There has been 95 single family home sales in Tahoe Donner for the first half  of 2010. You can see from the graph below that $317 per sq ft is the highest distribution for sales – roughly 22 homes sold in this $/sq ft area. 269 and 293 are also statistically high for sales – accounting for another 38 homes. So, 60 of 95 sales were in the $269 to $317 per sq ft range.

Obviously this is helpful data for you as a buyer trying to determine a home value or as a seller trying to get a handle on what your home is worth. The $/sq ft number is obviously not the only way to value the home but it’s a good place to start. For example, if the home has high value construction (granite, wood floors, high end cabinets, views, etc.) and fairly new you could obviously peg the $/sq ft at a higher number and vice versa.

Call me if you would like to discuss or would like more specific data

Gary LaBelle,  truckeerealestate@gmail.com, 530-448-1100

Tahoe Donner June ’10 Single Family Home Sales

The following Figure shows Tahoe Donner Single Family Home activity from Jan 2008 through June ‘10.

Figure 1. Tahoe Donner Single Family Home Sales – Note seasonality of sales

Single Family home sales in May ’10 continue to outpace the last 2 year’s sales for May.  This is significant since sales in Tahoe Donner are extremely seasonal. The net-net is that for a true picture of the market activity one must look at seasonality throughout the year. So, based on seasonality one can expect that sales will continue to rise the rest of 2010 as we get into the fall season.

Inventory (# of SF listings) picked up from 120 to 152. As mentioned in the last couple months report the inventory has grown as the Ski Lease properties became available and some of these have been listed.

Inventory is still low at 152 homes on the market, up from 120 last month. When you consider we have over 5100 homes in Tahoe Donner this is approximately 3 % of the homes in TD.  Based on historical data we could expect that the inventory has peaked and will fall off a bit as we get into the fall selling season.

Average Days on market (DOM) decreased significantly to 64 from 100 days – which looking at the above graph is lower for June of ’08 and ’09.

Single family home sales were 15 homes, the same as last month. As mentioned previously, based on seasonality data for the last couple years we can expect to see home sales rising through the summer and fall. I would expect to see the home builders start to come out of hibernation due to the low inventory. A consequence of this is that demand for buildable lots should show some life as we enter the summer building season.

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 are picking up a bit since Jul of ‘09. This is a good trend and could be construed as a sign that the Tahoe Donner single family home market is healthy.

One factor that affects this price curve is that we have a dearth of high end new home construction activity in Tahoe Donner. This will tend to keep single family (SF) home pricing a bit lower until we get some additional high end construction activity and new homes for sale.

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. I also have sold price vs. listed price data – this is very helpful if you are considering selling or buying a home – call me for a copy of this data.

Gary LaBelle, Realtor

www.truckeehome411.com

TruckeeRealEstate@Gmail.com

(530) 448-1100

DRE #01495906

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