Tahoe Donner April '10 Home Sales

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

Single Family home sales in April ’10 continue to outpace the last 2 year’s sales for April.  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 through the fall – assuming we have enough inventory to sell!

Inventory (# of listings) is still very low. The very strong sales late last year reduced the number of available homes for sale and the remaining inventory has really been picked over. Low inventory and strong demand will obviously help to put some upward bias on home pricing.

Inventory is low at 89 homes on the market, up from 73 last month. When you consider we have over 5100 homes in Tahoe Donner this is approximately 1.7 % of the homes in TD.  Based on historical data we could expect the inventory to climb as we get into the summer and fall selling season. Inventory typically rises this time of year because of the Ski Lease properties coming off lease and some owners deciding to list their properties.

Average Days on market (DOM) increased significantly to 128 from 86 days – which looking at theBo above graph seems slightly above average for the last few years.

Single family home sales were 22 homes, up from 13 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. Be aware that quarter-to-quarter sales comparisons may not make a lot of sense due to the seasonality of home sales in Tahe Donner.

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 an increase now as we enter the spring building season.

Tahoe Donner April '10 Home 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 have stayed fairly constant 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 SF home pricing a bit lower until we get some additional high end construction activity.

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

Something to keep in mind when you are selling or buying a home.

Call me if you want additional clarification for this data.

Total 2009 Sales have been 19 so roughly 1/2 of the sales have been in the last few months.

I showed Condos and Townhomes to a client yesterday and it was amazing to see the difference in the last couple months. Those of you that have been on the sidelines for a Condo or Townhouse had better get out and start looking!

We expect sales to continue to be strong becoaue of the upcoming ski season. Call me if you want to see what’s available and go look at properties.

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

Condo’s and Townhomes are also picking up. There were 4 sales in August.

I’ll be publishing a detailed report in a couple days.

Subject: Tahoe Donner Sales History for Single Family Homes

Date: August 5, 2009

Tahoe Donner is a relatively large community in Truckee with approximately 5000 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 July ‘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 July 2009.

Figure 1. Tahoe Donner Single Family Home Sales

Results for July, 2009

July was another good month for Tahoe Donner. Inventory is low and sales continue to go up from previous months.

Inventory is well behaved at 173 homes on the market. When you consider we have over 5000 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.

Days on market (DOM) stayed about the same – 103 days from 102 days in June and low historically. This is a very positive indicator and shows homes are moving well.

Single family home sales were 21 homes, up from 17 last month. The sales have increased monthly from Jan of ’09.

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 with a bit of a downturn in July. 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 July looks from a historical perspective. The 103 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.

Tahoe Donner New Listings! See the following for this weeks new Tahoe Donner home and condo listings for the last 7 days. Scroll down to see all. Click next to go to next page.

Click here for a Map of Tahoe Donner.

Click here for a Map of Tahoe Donner Amenities

Click here for a Map of Tahoe Donner Trails

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Tahoe Donner is a planned mountain community located minutes from Truckee and Interstate 80.  It is the perfect hub for Sierra activities – with several major ski resorts, Donner Lake, Lake Tahoe, and Reno all within a 5-35 minute drive.  It is close to everything that people come to the mountains for. Tahoe Donner’s approximate 6,000 acres contain 3300 acres managed by the association of which 1300 acres are interspersed among homes for privacy, hiking and natural habit preservation. There are over 5,900 residential lots of which 5090 were developed as of 1/1/08. About 20% of those are lived in year round.

Tahoe Donner Golf Course

Tahoe Donner® is wholly owned by the property owners and features many recreational amenities such as a campground, equestrian center and trails which double as the cross country facility in the winter, downhill ski area, a snow play area and an outstanding 18-hole championship golf course. A clubhouse/association office, outdoor swimming pools plus an year-round adult lap pool, tennis courts, a private beach marina at Donner Lake with boat facilities, hiking and biking trails and a newer recreational center complete with gym, sauna, spa and steam room.  Elevation ranges from 6,200 to almost 8,000 feet. The first home was built in 1972.

Tahoe Donner also has a Green Club to help homeowners with creating and sustaining a green environment and covers topics like selection and installation of wind and solar electricity generation – subsidies from our local PUD are also discussed.

For more information, or to visit properties in Tahoe Donner call or email me: 530-448-1100, glabelle@ltol.com

April was another good month for Tahoe Donner. Inventory is low, sales are up and days on market are decreasing. Report available in PDF form below.

Inventory is well behaved at 141 homes on the market. When you consider we have over 5000 homes in Tahoe Donner this is only 2.8% of the homes in TD. This is positive since inventory is remaining low and not putting extreme competitive pressure on sales prices.

Days on market (DOM) dropped to 124 days from 162 days in Mar and is equal to the Feb number.  One could have been concerned with the significant increase of DOM in Mar but this has dropped down in April to roughly 4 mths.

Single family home sales increased again to 16 homes, up from 13 last month. The sales are increasing from 12 or so to over 15. Looking at last year’s seasonality of sales, one could expect continued growth in home sales over the Jun-Oct period.

 Click here to read the April Home Sales Sales Report

Summary

Inventory is well behaved at 138 homes on the market. When you consider we have over 5000 homes in Tahoe Donner this is only 2.8% of the homes in TD. This is positive since inventory is remaining low and not putting extreme competitive pressure on sales prices.

Days on market, DOM, increased from 124 days in Feb up from 162 days in Mar. This is an increase of 30% and bears watching in the months to come.

Single family home sales increased slightly to 13 from 12 last month. The average here seems to be in the 12 or so per month area for the last 5 months.

Tahoe Donner Single Family Home Sales Data Through Mar 2009