July 2, 2010
Your Full Service Truckee Realtor
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
(530) 448-1100
DRE #01495906
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