Tahoe Donner Market Trends – 1st 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 91 as of May 11, 2011. This represents a slight increase over last quarter, a 1.1% increase in inventory of single family homes. This number is low compared to previous years at this time of the year. But, as expected, we are starting to see the number of listings increase over the number of homes on the market 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 January 2011 through March 2010 was $512,000. This represents a decrease of 1.5%, or $8,000, compared to the prior quarter. The median sales price for single family homes was $502,000 during the same period in the prior year (1st Quarter 2010), that’s a 2.0% increase compared to this past quarter. 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 January 2011 through March 2011 was 45 homes. This represents a decrease of 36.6%, or 26 homes, compared to the prior quarter and an increase of 18.4%, or 7 homes, compared to the same period in the prior year. The market activity has decreased during the last three quarters as compared to the previous quarter. It is fairly common to have a drop in market activity during the first quarter of year each year.

Homes are selling at about 95.7% of their asking price. The average listing price for single family homes in Tahoe Donner for January 2011 through March 2011 was $570,388. This represents a decrease of 6.4%, or $25,410, compared to the prior quarter and a decrease of 4.3% 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 January 2011 through March 2011, compared to the same period in the prior year when the homes were selling at an average of 93.1% 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 1st Quarter was $253, an increase of 3.3% (at $245/sq.ft.) as compared to last quarter (4th Qtr 2010), and a decrease of 0.8% (at $255/sq.ft. in Q1 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.