Tahoe Donner Market Trends – 2nd Quarter 2011

Tahoe Donner Summary (Complete Report)

Inventory Increased. The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 145 as of July 6, 2011. This represents a significant increase over last quarter, a 59.3% increase in inventory of single family homes. This number is still a bit low compared to previous years at this time of the year. But, as expected, the large increase over the number of homes on the market during the 1st quarter that we’ve seen this quarter can be attributed to ski-leased homes coming on the market for sale and the usual general increase in inventory at this time of the year.

Lower priced homes are continuing to sell the best.The median sales price for single family homes in Tahoe Donner for April 2011 through June 2011 was $469,000. This represents a decrease of 8.4%, or $43,000, compared to the prior quarter. The median sales price for single family homes was $543,500 during the same period in the prior year (2nd Quarter 2010), thus we experienced a 13.7% decrease compared to the 2nd quarter of 2010. We still have lots of buyers looking for homes in the lower price ranges.

Market Activity staying the same. The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for April 2011 through June 2011 was 45 homes. Basically, the market activity for single family home sales has stayed the same as last quarter, but still represents a decrease of 6.5%, or 10 homes, compared to the same period in the prior year. Typically we see an increase in market activity during the 2nd quarter of year each year, over the activity in the 1st quarter, but this year it stayed pretty much the same in both quarters.

Homes are selling at about 94.7% of their asking price. The average listing price for single family homes in Tahoe Donner for April 2011 through June 2011 was $528,987. This represents a decrease of 7.3%, or $41,401, compared to the prior quarter and a decrease of 17.2% compared to the same period in the prior year. Single family homes in Tahoe Donner sold at an average of 94.7% of their last listed price, during April 2011 through June 2011, compared to the same period in the prior year when the homes were selling at an average of 95.9% 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 2nd Quarter was approx. $247, a decrease of 2.4% (at $253/sq.ft.) as compared to last quarter (1st Qtr 2011), and a decrease of 11.5% (at $279/sq.ft. in Q2 of 2010) 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.