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.
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.
Tahoe Donner Market Trends – 3rd Quarter 2009
Tahoe Donner Summary (Complete Report)
Tahoe Donner Market Trends for the third quarter of 2009:
More lower priced homes are selling. The median sales price for single family homes in Tahoe Donner for Jul 09 to Sep 09 was $525,000. This represents a decline of 8.6%, or $49,500, compared to the prior quarter and a decrease of 21.1% compared to the same period in the prior year. Median sales prices have decreased about 31.4%, and average sales prices have decreased about 29% for the 3rd Quarter periods over the last 4 years in Tahoe Donner (since 3rd Quarter 2005). The market peek in Tahoe Donner was in 2005.
Market Activity has increased. The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for Jul 09 to Sep 09 was 65 homes. This represents an increase of 35.4%, or 17 homes, compared to the prior quarter and an increase of 20.4%, or 11 homes, compared to the same period in the prior year. The market activity has increased dramatically over this last quarter! There are lots of buyers purchasing properties and we are seeing many multiple offer situations.
Great deals are being made! The average listing price for single family homes in Tahoe Donner for Jul 09 to Sep 09 was $605,296. This represents a decline of 8.4%, or $55,240, compared to the prior quarter and a decrease of 21.4% compared to the same period in the prior year. Single family homes in Tahoe Donner sold at an average of 94.3% of their last listed price, during Jul 09 to Sep 09, compared to the same period in the prior year when the homes were selling at an average of 96.2% of their last listed price. Some great deals are being made!
Fewer homes on the market. The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 143 as of Oct. 11, 2009, which represents an decrease of 15.9%, or 27 homes, compared to the prior quarter and an increase of 5.9%, or 9 homes, compared to the same period in the prior year. This activity represents the usual seasonal activity we see in home listings for the beginning of the 3rd Quarter each year. Normally, we see the number of listings decline in the 3rd Quarter as sellers withdraw their homes listings to ski lease the properties for the winter season.
Decrease in the average $/sq.ft. of sold homes. Average price per square foot for Tahoe Donner homes sold during the 3rd Quarter was $275, a decrease of 15.1% (at $324/sq.ft.) compared to the same period last year.
View Tahoe Donner Market Trends for the fourth quarter of 2009
