Truckee Real Estate – Tahoe Donner Homes – Jan ’12 Closings

Tahoe Donner Homes – Single Family Home Sales – January  2012

 

The following Figure shows Tahoe Donner Single Family Home activity from Jan 2008 through Jan 2012.

The data is obtained from the Tahoe MLS published data. Note, this data is for single family homes only – contact me for data on Tahoe Donner Condos, Lot Sales or data for other Truckee or Lake Tahoe areas. 

Tahoe Donner is a great area to study for market activity since it is has over 5000 homes and therefore presents a large database for meaningful statistical analysis. Home prices vary from roughly $300K to over $1.5M and ages range from brand new to over 30 years old.

 

    Tahoe Donner Single Family Home Closings – Jan ’08 to Jan ‘12

 

Tahoe Donner Homes – Jan ‘12 Closings

Single Family home closings in Jan ‘12 were strong with 19 homes compared to 17 last month and 20 the month before. Note that sales in Tahoe Donner are extremely seasonal and year to year comparisons are significant to get a valid picture of typical sales activity. Note that Jan ’12 was the strongest Jan in 5 years! Great news since sales tend to ramp up after Jan.

Regarding other sales, there are 4 pending, 22 contingent and 10 active contingent short sales with offers in the works. However, don’t expect strong overall closings for the next couple months. From a seasonality point of view, except for this year, Jan is typically the slowest month of the year with some recovery starting in Feb. Keep in mind the difference between closings and when the contract is signed can be 4-8 weeks for open and close of escrow.

 

Tahoe Donner Homes – Inventory  

The number of Single Family listings was 131 listings at the end of Jan, up from 91 in Dec and 116 in Nov. When you consider we have approximately 5000 single family homes in Tahoe Donner, inventory continues to be low – 2.6% of the homes in TD. This low inventory is obviously a positive sign for the continued good health of the Tahoe Donner Home Market.

 

Tahoe Donner Homes – Days on Market (DOM)

Average Days on market (DOM) was 120 days, which dropped a bit from 136 days last month. Looking at the first graph it appears as though this is roughly typical for the last 4 years.

 

 

Tahoe Donner Single Family Home Median and Average Home Price – Jan ’08 to Jan ‘12

 

Tahoe Donner Homes – Average and Median Prices

Average price was $458K and the median price was $405K.Looking at the above graph, it can be seen that Jan of 2009/10 and 2012 have all been in this price area with rebounds in Feb of these years. Let’s hope that Feb of 2012 has a similar upward change in average and median prices. It’s clear that we have virtually no sales in high end homes which are obviously affecting the average and median sales price. One can see a decline in the 1H of 2011 to June but also an increase after June 2011.

 

Average Price per Sq Ft

The average price per square foot for Dec was $214. Last month it was $247. Can’t build much for $214 per sq ft – great time to buy property in Tahoe Donner.

 

Sold Price vs. Last Listed Price

Average sold to last list price for Dec was 96%. So, when you are buying or selling keep this average number in mind.

 

Tahoe Donner Number of Single Family Homes Sold vs. Sale Price Category – Jan ’10 to Jan ‘12

 

The above graph shows sales by price range. The less than $300K band accounted for  2 of 19 sales, the $500 to $700K segment had 4 of 19 total homes sold.  The $300 to $500K segment was 11 out of 19 homes sold. Two homes sold in the $700K to $900K range and no homes sold above $900K. Cash buyers were out in force with 4 sales being cash. The remaining sales used conventional financing. One of the sales was a brand new home.

As mentioned last month, there are multiple remodels and a bit of spec home activity. At the present time, there are 2 brand new homes for sale in Tahoe Donner.  I believe the spring should see more building as the market continues to improve. That also says lot sales should improve accordingly.

 I hope this data, presented in this form was useful to you. 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 discuss these results or see additional data.

 

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Gary LaBelle        Truckeehome411.com       TruckeeRealEstate@gmail.com