The following Figure shows Tahoe Donner Single Family Home activity from Jan 2008 through March ‘10.
Figure 1. Tahoe Donner Single Family Home Sales
Single Family home sales continue to outpace last year’s sales. Inventory (# of listings) is at a multi-year low and continues to fall. It is now at 73 homes . The very strong sales in Sept-Dec reduced the number of available homes for sale and the remaining inventory has really been picked over. Low inventory and strong demand will obviously help to put some upward bias on home pricing. The inventory is also getting a bit old which explains why the Days-on-market (DOM) has jumped up.
Inventory is low at 73 homes on the market, down from 83 last month. When you consider we have over 5100 homes in Tahoe Donner this is approximately 1.4 % of the homes in TD. Based on historical data we could expect the inventory to climb as we get out of the slow part of the winter season and into the stronger summer and fall selling season. The main factor here will be expiring Ski leases that will be listed for sale by homeowners.
Average Days on market (DOM) remains low and is at 86 days.
Single family home sales were 13 homes, up from 11 last month. Based on seasonality data for the last couple years we can expect to see home sales rising into the summer months, assuming we have enough inventory to sell. I would also expect to see the home builders start to come out of hibernation due to the low inventory. A consequence of this is that we should see more new housing show up for sale.
Figure 2. Tahoe Donner Single Family Home Median and Average Home Price
One important change that started in Jan of ’09 is that Average and Median prices had a significant downturn – see Figure 2. However, one can see that the average and median prices picked up back to similar levels as late last year. This is a good trend and could be construed as a sign that the Tahoe Donner single family home market is healthy. Interesting that Jan ’10 also had a significant decrease in Average and Median prices. prices look healthy over the last few months.
One factor that affects this price curve is that we have a dearth of high end new home construction activity in Tahoe Donner. This will tend to keep SF home pricing a bit lower until we get some additional high end construction activity.
I hope this data, presented in this form was useful to you. For an instant update, or a discussion about condos/townhomes, please call me and I’ll be pleased to provide you with the most recent data available. MLS data is available and I encourage the buyer or seller to study the data and arrive at their own conclusions before making a buy or sell decision. Contact me if you would like to see the “raw” data. I also have sold price vs. listed price data – this is very helpful if you are considering selling or buying a home – call me for a copy of this data.
Gary LaBelle, Realtor
DRE #01495906
