Tahoe Donner Market Trends – 3rd Quarter 2010
Tahoe Donner Summary (Complete Report)
Inventory Steady. The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 153 as of Oct. 04, 2010. This represents a slight decrease over last quarter at this time, a 1.3% decrease in inventory of single family homes. Although the inventory seems pretty steady right now, we expect to start seeing the usual decrease in inventory for this time of the year as homes are taken off the market to be ski leased for the winter season.
Lower priced homes are continuing to sell the best. The median sales price for single family homes in Tahoe Donner for July 2010 through September 2010 was $525,000. This represents a decrease of 3.4%, or $18,500, compared to the prior quarter and the very same median sales price as compared to the same period in the prior year. We still have lots of buyers looking for homes in the lower price ranges.
Market Activity increase. The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for July 2010 through September 2010 was 63 homes. This represents an increase of 23.5%, or 12 homes, compared to the prior quarter and a decrease of 3.1%, or 2 homes, compared to the same period in the prior year. The market activity increased during the last two quarters, which is pretty normal for the 2nd and 3rd quarters of each year.
Homes are still selling at about 96% of their asking price. The average listing price for single family homes in Tahoe Donner for July 2010 through September 2010 was $577,836. This represents a decrease of 9.6%, or $61,226, compared to the prior quarter and a decrease of 4.5% compared to the same period in the prior year. Single family homes in Tahoe Donner sold at an average of 95.7% of their last listed price, during July 2010 through September 2010, compared to the same period in the prior year when the homes were selling at an average of 94.3% of their last listed price.
Decrease in the average $/sq.ft. of sold homes. Average price per square foot for Tahoe Donner homes sold during the 3rd Quarter was $270, a decrease of 3.2% (at $279/sq.ft.) as compared to last quarter (2nd Qtr 2010), and a slight decrease of 1.8% (at $275/sq.ft. in Q3 of 2009) as compared to the same period last year. Note: If you are a buyer of property, please remember that the sold price/sq.ft. is generally higher for smaller homes and lower for larger homes.
Martis Camp Home Tour
Come join us for the 2010 Martis Camp Home Tour, Saturday, Aug. 7 from 10 a.m. to 4 p.m. presented by the Tahoe Board of Realtors. Tickets are on sale now for $35 in advance or $40 at the door. Proceeds benefit quality education within the Tahoe Truckee unified school district. AND, “Green Weather” starring our own Garrison Green on guitar and singing will be performing at the benefit!
Spend an afternoon exploring six remarkable one-of-a-kind custom homes in Truckee’s Martis Camp and help raise money to benefit local schools. Discover many of the latest trends and creative ideas in luxury home building as envisioned by several of the region’s premiere architects, builders, designers and landscapers. The Tour begins at Martis Camp: Turn in on Schaffer Mill Road (across from Truckee Airport Road) off of Hwy 267. Follow the Home Tour signs to the designated parking areas and shuttle buses will take guests on the Tour.
Tickets may be purchased at Dickson Realty, Coldwell Banker, Keller Williams, Prudential Realty, Tahoe Mountain Resorts Real Estate in the Village at Northstar and online at www.ExinEd.org.
Tahoe Donner Market Trends – 2nd Quarter 2010
Tahoe Donner Summary (Complete Report)
High Inventory. The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 155 as of July 10, 2010. This represents a dramatic increase over last quarter at this time, a 96.2% increase in inventory of single family homes. This number is still low compared to previous years at this time of the year. But, as expected, this is the usual increase that we see each year over the number of listings during the winter/spring seasons.
Lower priced homes are continuing to sell the best. The median sales price for single family homes in Tahoe Donner for April 2010 through June 2010 was $543,500. This represents an increase of 8.3%, or $41,500, compared to the prior quarter and a decrease of -5.4% compared to the same period in the prior year. We still have lots of buyers looking for homes in the lower price ranges.
Market Activity increase. The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for April 2010 through June 2010 was 51 homes. This represents an increase of 34.2%, or 13 homes, compared to the prior quarter and an increase of 6.3%, or 3 homes, compared to the same period in the prior year. The market activity increased during the last quarter, which is pretty normal for the 2nd quarter of each year.
Homes are selling at about 96% of their asking price. The average listing price for single family homes in Tahoe Donner for April 2010 through June 2010 was $639,062. This represents an increase of 7.3%, or $43,264, compared to the prior quarter and a decrease of 3.3% compared to the same period in the prior year. We have had a lot of new listings on the market in the last few weeks, and many of the sellers will start their listing prices high and then lower the prices over time, as the summer progresses. Single family homes in Tahoe Donner sold at an average of 95.9% of their last listed price, during April 2010 through June 2010, compared to the same period in the prior year when the homes were selling at an average of 93.7% of their last listed price.
Increase in the average $/sq.ft. of sold homes. Average price per square foot for Tahoe Donner homes sold during the 4th Quarter was $279, an increase of 9.4% (at $255/sq.ft.) compared to last quarter (1st Qtr 2010), and a slight increase of 0.4% (at $278/sq.ft. in 2009) compared to the same period last year. Note: If you are a buyer of property, please remember that the sold price/sq.ft. is generally higher for smaller homes and lower for larger homes.
Truckee Real Estate Trends from Trulia.com
Trulia.com now offers a widget that shows a chart of the average listing price and available inventory for any city or neighborhood in the US for the past year. I’ve just created this widget for the Truckee, CA area real estate market trends . . . interesting . . . take a look.
Truckee Real Estate – Trulia |
Tahoe Donner Market Trends – 1st Quarter 2010
Tahoe Donner Summary (Complete Report)
Low Inventory. The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 79 as of April 11, 2010. This is a slight increase over last quarter at this time, only a 5.3% increase in inventory of single family homes. This number is still low compared to previous years at this time of the year. We expect to see the usual increase in inventory over the next few months as we approach the summer season.
Lower priced homes are continuing to sell the best. The median sales price for single family homes in Tahoe Donner for Jan 10 through Mar 10 was $502,000. This represents a decrease of -17.8%, or $108,750, compared to the prior quarter and a decrease of -10.0% compared to the same period in the prior year. We still have lots of buyers looking for homes in the lower price ranges.
Market Activity decrease. The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for Jan 10 through Mar 10 was 38 homes. This represents a decrease of 52.5%, or 42 homes, compared to the prior quarter and an increase of 11.8%, or 4 homes, compared to the same period in the prior year. The market activity decreased during the last quarter, which is not too unusual for the 1st quarter of each year.
Homes are selling at about 93% of their asking price. The average listing price for single family homes in Tahoe Donner for Jan 10 through Mar 10 was $595,798. This represents a decrease of 10.9%, or $72,860, compared to the prior quarter and a decrease of 10.5% compared to the same period in the prior year. Of course, there was also a decrease in the average median sales prices of homes, thus the prices of homes may not actually be decreasing at this point. This data just shows us that more lower priced homes sold during this last quarter, which lowers the average sales prices of sold homes. Single family homes in Tahoe Donner sold at an average of 93.1% of their last listed price, during Jan 10 through Mar 10, compared to the same period in the prior year when the homes were selling at an average of 92.4% of their last listed price.
Percentage of bank owned and short sales, to standard sales, continue to increase. 28.9% of total single family home sales in the 1st Quarter 2010 were bank owned and short sale homes as compared to 18.8% of the total single family home sales in the 4th Quarter 2009.
Continued decrease in the average $/sq.ft. of sold homes.Average price per square foot for Tahoe Donner homes sold during the 4th Quarter was $255, a decrease of -4.9% (at $268/sq.ft.) compared to last quarter (4th Qtr 2009), and a decrease of -1.5% (at $272/sq.ft.) compared to the same period last year. Note: If you are a buyer of property, please remember that the sold price/sq.ft. is generally higher for smaller homes and lower for larger homes.
