Truckee Real Estate – Tahoe Donner Home Sales
March 17, 2010
The following Figure shows Tahoe Donner Single Family Home activity from Jan 2008 through February ‘10.
Figure 1. Tahoe Donner Single Family Home Sales
Single Family home sales continue to outpace last year’s sales. Inventory (# of listings) is at a multi-year low and flat over the last few months at a bit over 80 homes. The very strong sales in Sept-Dec 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. The inventory is also getting a bit old which explains why the Days-on-market (DOM) has jumped up.
Inventory is low at 83 homes on the market, up from 82 last month. When you consider we have over 5100 homes in Tahoe Donner this is approximately 1.6 % of the homes in TD. Based on historical data we could expect the inventory to climb as we get out of the slow part of the winter season and into the stronger summer and fall selling season.
Average Days on market (DOM) increased significantly to 127 from 39 days. As mentioned above I think this is due to the low inventory of homes, some of which has been on the market for a long time.
Single family home sales were 11 homes, up from 10 last month. I think a very strong factor here is due to seasonality – Jan tends to be a slow month based on historical data. Also, low inventory is also a significant factor. Based on seasonality data for the last couple years we can expect to see home sales rising, assuming we have enough inventory to sell. I would also 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 soon.
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 picked up back to similar levels as late last year. This is a good trend and could be construed as a sign that the Tahoe Donner single family home market is healthy. Interesting that Jan ’10 also had a significant decrease in Average and Median prices.
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
DRE #01495906
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