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.
Tahoe Donner Wants Your Opinion on Logo
Tahoe Donner is taking a look at how it represents itself visually – on everything from signs to staff uniforms, our website and even email messages like this. Over the years, variation in the association’s visual identity has evolved. Soon you will begin to notice more consistency in how Tahoe Donner presents itself.
Part of the conversation right now is Tahoe Donner’s logo. Some feel that it could use updating to be more contemporary, while others enjoy the current look and its historical feel. What do you think? Members are invited to share their opinions through an online survey that will be available through April 30. Please note that each adult member may participate in the survey once. The results of this survey will guide our efforts. So think about what logo you’d be proud to show off on a Tahoe Donner shirt, hat or mug and let us know. Take the survey now.
Tahoe Donner Market Trends – 4th Quarter 2009
Tahoe Donner Summary (Complete Report)
Dramatic decrease in number of homes for sale. The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 75 as of Jan. 10, 2010, which represents a decrease of 47.6%, or 68 homes, compared to the prior quarter and a decrease of 38.0%, or 46 homes, compared to the same period in the prior year. This decrease in the number of home listings is unusual in our market. Clearly, we are now experiencing a severe drop in inventory which means that buyers will have fewer homes to choose from and sellers could start raising their asking prices.
Lower priced homes are continuing to sell the best, but buyers are now buying homes that cost a little more. The median sales price for single family homes in Tahoe Donner for Oct 09 through Dec 09 was $610,750. This represents an increase of 16.3%, or $85,750, compared to the prior quarter and a decrease of 4.3% compared to the same period in the prior year. Median sales prices have decreased about 15.5%, and average sales prices have decreased about 20% for the 4th Quarter periods over the last 4 years in Tahoe Donner (since 4th Quarter 2005). The market peak in Tahoe Donner was in 2005.
Market Activity continues to increase. The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for Oct 09 through Dec 09 was 80 homes. This represents an increase of 23.1%, or 15 homes, compared to the prior quarter and an increase of 53.8%, or 28 homes, compared to the same period in the prior year. The market activity has continued to increase over the last 2 quarters! We are still seeing many multiple offer situations, especially for homes listed under $450,000.
Homes are selling at about 95% of their asking price. The average listing price for single family homes in Tahoe Donner for Oct 09 through Dec 09 was $668,658. This represents an increase of 10.5%, or $63,366, compared to the prior quarter and a decrease of 9.3% compared to the same period in the prior year. Of course, there was also an increase in the average median sales prices of homes, thus the prices of homes may not actually be increasing at this point. Data such as this mostly shows us that more of the higher priced homes are selling, which raises the average sales prices of sold homes. Single family homes in Tahoe Donner sold at an average of 95.0% of their last listed price, during Oct 09 through Dec 09, compared to the same period in the prior year when the homes were selling at an average of 95.0% of their last listed price.
Percentage of bank owned and short sales, to standard sales, continues to increase. 18.8% of total single family home sales in the 4th Quarter 2009 were bank owned and short sale homes as compared to only 10.8% of the total single family home sales in the 3rd 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 $268, a decrease of 2.5% (at $275/sq.ft.) compared to last quarter (3rd Qtr 2009), and a decrease of 12.1% (at $305/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.
Winter at Martis Camp
Martis Camp is a welcoming spot to enjoy the winter season. The Family Barn is decorated and is a festive and cozy place to spend a little time. This newer Tahoe community has so much to offer! Click here to read the current information about Winter at Martis Camp.
