Tahoe Donner Single Family Home Sales Up in July! – Revised
August 5, 2009
Gary LaBelle, CA Realtor®, (530) 448-1100, Email Gary
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
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.
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